Halliburton Posts Loss on Charges

Halliburton(HAL Quote) reported a third-quarter loss of $21 million, or 2 cents a share, which included a non-deductible loss of 79 cents a share from the settlement of a convertible senior notes premium and a charge related to an acquisition.

A year earlier, the company reported net income of $727 million, or 79 cents a share.

Third-quarter profit excluding non-recurring items was $687 million, or 76 cents a share, down from year-earlier earnings of $727 million, or 79 cents a share.

Hurricanes in the Gulf of Mexico trimmed $33 million, or 4 cents a share, from the latest quarter's earnings. Sales in the quarter rose 24% to $4.9 billion, the oil services company said in a press release Monday.

Halliburton said revenue in the quarter was driven by all its product service lines, including increased international activity and higher demand in the U.S. The North American market had revenue growth of 22% year-over-year, as "unconventional activity throughout the United States and Canada accelerated," the company said.

Analysts surveyed by Thomson Reuters expected Halliburton to report earnings of 74 cents a share in the third quarter.