Halliburton Q4 Loss Widens; Adj. EPS, Revenues Top View; Says Optimistic On FY18

(RTTNews) - Oilfield services company Halliburton Co. (HAL) reported Monday that its fourth-quarter net loss attributable to share holders widened to $824 million or $0.94 per share from last year's loss of $149 million or $0.17 per share.

Loss from operations was $805 million, or $0.92 per share, compared to $149 million or $0.17 per share a year ago.

The results reflected charges related to United States tax reform and Venezuela receivables.

Adjusted income from continuing operations for the fourth quarter was $462 million, or $0.53 per share, compared to $35 million or $0.04 per share last year.

On average, 33 analysts polled by Thomson Reuters expected earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Halliburton's total revenue was $5.94 billion, higher than $4.02 billion a year ago. Analysts were looking for revenues of $5.63 billion.

Excluding special items, adjusted operating income for the fourth quarter of 2017 was $764 million.

Jeff Miller, President and CEO, said, "I continue to believe we are on the path to normalized margins in North America in 2018.... I am optimistic about what I see in 2018. Commodity prices are supportive of increasing activity in North America and I am encouraged by the increase in tender activity and the positive discussions we are having with our international customers."

In pre-market activity, Halliburton shares were trading at $54, up 1.87 percent.