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Key Takeaways
- Shares of Halliburton fell Tuesday after the oilfield services company reported first-quarter profit that came in well short of analysts' estimates.
- CEO Jeff Miller said the company faced "recent pressures on the energy macro."
- CFO Eric Carre said, "We need a bit more clarity and stability in the structure of tariffs so that we can really understand what levers we can pull."
Halliburton shares (HAL), the oilfield services provider, fell on Tuesday following a disappointing first-quarter earnings report.
The Houston-based company reported earnings per share of $0.24. This is a sharp drop from $0.68 one year ago, and well below the $0.60 consensus set by Visible Alpha. The adjusted EPS was $0.60, which was the same as expected. Revenue of $5.42 billion also exceeded expectations.
CEO Jeff Miller said the company faced "recent pressures on the energy macro," but that the firm's "consistent focus on technology, collaboration, and service quality execution create value for our customers and drive long-term success for Halliburton and its shareholders."
Halliburton Needs Tariffs 'Clarity and Stability,' CFO Says
When asked about tariffs during the earnings call, CFO Eric Carre replied, “We have reasonable insight into what will happen in Q2, which is about a $0.02 to $0.03 impact” on earnings per share. This is according to a transcription provided by AlphaSense.
"In terms of the overall impact, we need a bit more clarity and stability in the structure of tariffs so that we can really understand what levers we can pull and then what the overall outcome is going to be," Carre said.
Halliburton’s stock fell over 5% in recent trading and was among the biggest S&P 500 decliners on a day the index was up nearly 2%. Shares will have lost a quarter in value by 2025.
