Halliburton (HAL) Q3 Earnings and Revenues Miss Estimates

Company Performance - Halliburton reported quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.75 per share, and down from $0.79 per share a year ago, representing an earnings surprise of -2.67% [1] - The company posted revenues of $5.7 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.20%, and down from $5.8 billion year-over-year [2] - Over the last four quarters, Halliburton has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Halliburton shares have lost about 15.6% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The current Zacks Rank for Halliburton is 4 (Sell), indicating expected underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.80 on revenues of $5.9 billion, and for the current fiscal year, it is $3.12 on revenues of $23.37 billion [7] - The estimate revisions trend for Halliburton is currently unfavorable, which may impact future stock movements [6] Industry Context - The Oil and Gas - Field Services industry, to which Halliburton belongs, is currently in the bottom 43% of the Zacks industry rankings, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could affect Halliburton's stock performance [5]