Research Desk Line-up: Baker Hughes, a GE company Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Halliburton Co. (NYSE: HAL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=HAL, following the Company's disclosure of its third quarter fiscal 2017 operating results on October 23, 2017. The provider of drilling services to oil and gas operators outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Oil & Gas Equipment & Services industry. Pro-TD has currently selected Baker Hughes, a GE company (NYSE: BHGE) for due-diligence and potential coverage as the Company announced on October 20, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Baker Hughes, a GE company when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HAL; also brushing on BHGE. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=HAL

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Earnings Reviewed

For the quarter ended September 30, 2017, Halliburton's revenues totaled $5.44 billion; representing a 42% increase compared to revenues of $3.83 billion in Q3 2016. The Company's revenue figures beat analysts' estimates of $5.34 billion.

For Q3 2017, Halliburton's operating income was $634 million compared to $128 million in Q3 2016; primarily driven by the continued strengthening of market conditions in North America and an improved profitability in the Company's Drilling and Evaluation product lines.

Halliburton announced income from continuing operations of $365 million, or $0.42 per diluted share, for Q3 2017. This compares to income from continuing operations of $6 million, or $0.01 per diluted share, for Q3 2016. The Company's earnings figures topped Wall Street's expectations of $.37 per share.

Operating Segments

During Q3 2017, Halliburton's Completion and Production segment's revenues were $3.54 billion; an increase of 62% from revenues of $2.18 billion in Q3 2016, while operating income was $525 million versus $24 million in the year-ago same period. These increases were primarily due to improved utilization and pricing throughout the United States land sector in the majority of the Company's product service lines, as well as contributions from its recent artificial lift acquisition.

For Q3 2017, Halliburton's Drilling and Evaluation segment's revenue totaled $1.91 billion; an increase of 15% versus revenues of $1.66 billion for Q3 2016. The segment recorded an operating income of $180 million versus $151 million in the year-earlier comparable quarter. These increases were primarily due to increased drilling activity in the Middle-East, North America and Latin America. In the Eastern Hemisphere, growth in the Company's Consulting and Project Management product line was partially offset by activity declines across Asia/Pacific.

Geographic Regions

During Q3 2017, Halliburton's North America revenues were $3.2 billion; a 14% increase sequentially, relative to a 6% increase in the average US rig count. This improvement was driven primarily by increased utilization and pricing throughout the United States land sector in the majority of the Company's product service lines, primarily pressure pumping, as well as higher well completion and pressure pumping activity in Canada.

For Q3 2017, Halliburton's International revenue totaled $2.3 billion; reflecting a 4% increase sequentially, resulting primarily from increased activity across multiple product services lines in Latin America, and increased pressure pumping services and drilling activity in the Eastern Hemisphere. The Company's Latin America's revenue grew 4% to 530 million on a q-o-q basis in the reported quarter, driven by increased activity in Argentina; higher production group activity in Brazil; and increased drilling activity in Mexico. These results were partially offset by reduced well completion activity in Venezuela.

Halliburton's Europe/Africa/CIS's revenues gained $722 million in Q3 2017, up 6% sequentially, primarily due to improved utilization in the majority of the Company's product services lines in the North Sea and improved drilling and well completion services in Russia and Nigeria. The Company's Middle-East/Asia's revenues in the reported quarter were $1.0 billion; reflecting a 3% increase sequentially, primarily resulting from increased drilling activity in the Middle-East and project management activity in Indonesia.

Cash Matters

During Q3 2017, Halliburton's cash flow from operations was approximately $1.1 billion.

Stock Performance

At the close of trading session on Friday, October 27, 2017, Halliburton's stock price rose 2.89% to end the day at $42.43. A total volume of 12.46 million shares were exchanged during the session, which was above the 3-month average volume of 8.24 million shares. The Company's shares are trading at a PE ratio of 176.06 and have a dividend yield of 1.70%. At Friday's closing price, the stock's net capitalization stands at $35.94 billion.

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SOURCE: Pro-Trader Daily