- Halliburton (NYSE:HAL) +3.8% premarket after Q3 earnings and revenues beat Wall Street estimates and its board approves a 20% increase to its quarterly dividend.
- Q3 revenues rose 16.5% Y/Y to $8.7B, led by a 10% gain in its completion and production segment to $5.4B, primarily driven by higher activity in North America and strong growth across most product lines in Latin America and other regions.
- Drilling and evaluation revenue also rose 10%, to $3.28B, boosted by growth across most product lines in Latin America and more consulting and fluid services in the Eastern Hemisphere.
- North America posted the sharpest increase in revenue among all regions, jumping 22% to $4.7B on higher completion volumes, followed by the Middle East/Asia region with an 18% increase to $1.47B and the Europe/Africa/CIS region with a 9% rise to $1.46B.
- HAL also says it lowered its loss contingency for the Macondo well blowout by $100M and recorded $95M for an expected insurance recovery related to the settlement.