Halliburton Profit More Than Triples Despite Flat Sales

By Kimberly Chin

Halliburton Co. (HAL) said profit more than tripled in the first quarter as the oilfield services company recorded lower impairment charges and had a smaller provision for taxes in this quarter compared with a year earlier.

Net income was $152 million, or 17 cents a share, compared with $46 million, or five cents a share. Analysts polled by Refinitiv expected per-share earnings of 24 cents.

The company said that excluding impairments and other charges, adjusted earnings were 23 cents a share, one cent ahead of analysts' estimates of 22 cents a share.

Sales were flat at $5.74 billion compared with the year-earlier period, but more than the $5.53 billion analysts predicted.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 22, 2019 07:21 ET (11:21 GMT)

Halliburton (NYSE:HAL.WD)
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