Halliburton Cites Margin Gains

The third quarter beats targets.
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Halliburton (HAL) - Get Report beat third-quarter earnings targets.

The Houston-based oil services giant said Sunday night it made $615 million, or 58 cents a share, from continuing operations for the quarter ended Sept. 30, up from the year-ago $492 million, or 49 cents a share. Sales rose 19% from a year ago to $5.8 billion.

Analysts surveyed by Thomson Financial were looking for a 54-cent profit on sales of $5.54 billion.

The Energy Services Group benefited from increased customer activity and pricing gains, Halliburton said. Operating margins at ESG were their highest ever, at 26.7%.

"This was an exceptional quarter for Halliburton," said CEO Dave Lesar. "The Energy Services Group improved on its impressive second quarter results, growing revenue 9% sequentially, and again setting new records for revenue, operating income, and operating margins. I'm also pleased with the quarterly performance of KBR, which posted a 7.5% operating margin in the Energy and Chemicals segment."