Halliburton beat consensus expectations by 7%+.
Just comparing numbers, it was a 22% growth in income. BUT netting for one time tax differences and a one-time sale last year of $85M for a toll road, the actual growth in income is a massive 53%.
Even better, margins grew to their highest ever as revenues surged 20%. Most of the growth was in drilling and well services.
Watch oil equipment companies race up tomorrow.
You were right about the oil sector. I took positions in TTI at ~24, instead of DO which I held off coz of some analyst downgrade(s). Lets see how both of these run up to and through their earnings. Congrats on getting this right though Andrew.
ReplyDeleteOIL is falling..not sure if these oil related stocks go up ? I do have 5 calls on HAL though.
ReplyDeleteI wont agree that oil is to fall a lot more .. or even stay at these levels. From early November onwards, I really see oil related stocks picking up with oil prices .. lets see.
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