Halliburton Company (NYSE:HAL) saw its shares rocket on third-quarter results.
The Houston-based oil company announced today net income of $295 million, or $0.34 per diluted share, for the third quarter of 2019. This compares to reported net income for the second quarter of 2019 of $75 million, or $0.09 per diluted share, and adjusted net income for the second quarter of 2019 of $303 million, or $0.35 per diluted share, excluding impairments and other charges.
Operating income was $536 million during the third quarter of 2019, compared to reported operating income of $303 million and adjusted operating income of $550 million for the second quarter of 2019.
North America revenue in the third quarter of 2019 was $2.9 billion, an 11% decrease when compared to the second quarter of 2019, primarily associated with lower activity and pricing in pressure pumping and well construction services in North America land.
International revenue in the third quarter of 2019 was $2.6 billion, essentially flat when compared to the second quarter of 2019, with increased cementing activity in the Eastern Hemisphere and activity increases in Argentina offset by lower project management and stimulation activity in Middle East/Asia.
Said CEO Jeff Miller, "Our organization executed effectively in the third quarter. We managed the market dynamics and delivered our financial results as per expectations.
"Total company revenue was $5.6 billion and operating income was $536 million, representing decreases of 6% and 3%, respectively, compared to revenue and adjusted operating income in the second quarter of 2019."
Shares gained $1.05, or 5.7%, to $19.48
