Get ready for a busy trading day! Several companies are set to report earnings before the bell, including Hershey, Upwork, and Halliburton. Meanwhile, Avid Bioservices is being acquired and Block’s earnings are expected after the close. Discover which stocks might make waves in the market today.
Get ready for a busy trading day! Several companies are set to report earnings before the bell, including Hershey, Upwork, and Halliburton. Meanwhile, Avid Bioservices is being acquired and Block’s earnings are expected after the close. Discover which stocks might make waves in the market today.
Halliburton Company’s stock fell in pre-market trading after the company revealed a cyberattack that disrupted critical business applications. While the company claims the attack won’t significantly impact its finances, it faces potential risks including management distractions, lawsuits, and increased regulatory scrutiny.
Halliburton, an oilfield services company, experienced a cyberattack on Wednesday, affecting operations at its north Houston campus and some global connectivity networks. The company is working with experts to resolve the issue, and some staff have been instructed not to connect to internal networks.
Halliburton Company (HAL) reported revenue growth of 2.2% year-over-year to $5.804 billion in the first quarter of 2024, exceeding analysts’ expectations of $5.668 billion. The company’s diverse global service improvements and higher product sales contributed to a 3% increase in operating income to $688 million. Drilling and Evaluation revenue rose 7% to $2.4 billion, driven by increased drilling services in the Middle East and North America. International revenue grew by 12%, with particularly strong growth in Latin America (+21%) and Europe/Africa (+10%). Halliburton’s adjusted EPS was $0.76, beating the consensus estimate of $0.74. The company expects continued revenue growth in the low double digits for 2024.
Halliburton Company reported stronger-than-anticipated adjusted earnings for the first quarter of 2024, primarily attributed to a surge in foreign demand for oilfield services. The company reported an adjusted net income of $679 million, equating to $0.76 per diluted share, surpassing analyst predictions of $0.74 EPS. This positive performance was driven by a 12% surge in international revenue, reaching $3.3 billion, as demand for oilfield services and equipment rose in major markets across the Middle East, Europe, and Latin America.
