Halliburton reports third quarter EPS of $0.01

Company News | Business | Markets 10/19/2016, 1:30 PM
Halliburton reports third quarter EPS of $0.01

Oil field services company Halliburton announced that its profit in the third fiscal quarter of the year was $0.01 per share or $6 million, which is a significantly better result than the $54 million loss the company reported in the same period last year.

Total revenue was flat at $3.8 billion compared to the previous quarter, Halliburton said in a press statement on Wednesday. A year ago, the company’s revenue stood at $5.58 billion. Meanwhile, operating income was $128 million in the third quart this year.

“During the quarter, North America results improved as we took advantage of the rig count growth by increasing utilization, working our surface efficiency model and relentlessly managing costs. Our North America business delivered 9% sequential revenue growth, and operating results improved by $58 million, which represents 41% incremental margins,” chairman and CEO Dave Lesar commented.

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