Pressure Pumping Operational Issues Weigh on Halliburton's 1Q Results; Our FVE Is Unchanged
Halliburton reported unremarkable first-quarter results, matched by the market’s muted reaction. Revenue declined 3% sequentially, driven by a 12% decline in international market revenue, which was due to seasonal declines as well as weakness in Latin America, as also experienced by peers. Adjusted operating margins fell to about 11% from 13% in the prior quarter, driven by the top-line decline (affecting primarily the drilling and evaluation segment) as well as cost increases affecting the comp...Halliburton assists its customers throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion and optimizing production throughout the life of the asset. The company's segments are: Completion and Production, which delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion products and services; and Drilling and Evaluation, which provides field and reservoir modeling, drilling, evaluation and wellbore placement solutions that enable customers to model, measure, drill and optimize their well construction activities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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