From Seekingalpha · APAC Research · · 50s
Halliburton Earnings: Headwinds Today, Venezuela Tomorrow
Halliburton's Q1 earnings flat year-over-year but with Middle East growth and Venezuela contracts ahead.
In brief
Halliburton's Q1 earnings flat year-over-year but with Middle East growth and Venezuela contracts ahead. Halliburton reported flat Q1 revenue with North America down 5% and Middle East up 8%, but sees growth in Venezuela and Middle East reconstruction. Originally reported by Seekingalpha.
Q1 Earnings Report
Halliburton's Q1 revenue flat year-over-year with North America down 5% and Middle East/Asia up 8%.
Revenue Surprise
HAL delivered a $125 million revenue surprise despite flat year-over-year Q1 results.
Financial Metrics
Adjusted EBITDA rose to $1 billion with operating margin improving to 10.9%.
Dividend and Valuation
Supporting a 17-cent dividend and an attractive 17.5x GAAP PE despite slightly rich valuation.
Future Growth Areas
Halliburton well-positioned for Venezuelan contracts and Middle East reconstruction opportunities.
What it means
Halliburton reported flat Q1 revenue with North America down 5% and Middle East up 8%, but sees growth in Venezuela and Middle East reconstruction.
