Halliburton Company (NYSE:HAL, XETRA:HAL) reported first-quarter profit and revenue above Wall Street expectations on Tuesday, as strength in both North American and international operations lifted results.
The oilfield services company posted revenue of $5.4 billion for the quarter ended March 31, compared with analysts’ estimate of $5.3 billion, according to data compiled by LSEG.
Adjusted earnings per share came in at $0.55, beating expectations of $0.50, while operating income totaled $679 million versus estimates of $659.8 million.
Halliburton’s Drilling & Evaluation segment generated $2.39 billion in revenue, ahead of estimates of $2.3 billion, while Completion & Production revenue reached $3.02 billion, slightly above forecasts of $3 billion.
Operating income for the Drilling & Evaluation unit was $351 million, compared with expectations of $339.4 million.
The company reported an operating margin of 13%, with cash flow from operations of $273 million and free cash flow of $123 million during the quarter.
Halliburton returned capital to shareholders through roughly $100 million in share repurchases and a quarterly dividend of $0.17 per share.
CEO Jeff Miller said in a statement that he is seeing “clear signs” of a recovery in North America.
Miller also noted that its international operations performed strongly, more than offsetting disruptions related to the conflict in the Middle East.
Shares of Halliburton were up 4.3% following the results.