Halliburton stock down 8% this year but shows potential internationally, with forecasted growth

From Nasdaq: 2024-07-05 01:11:25

Halliburton stock (NYSE: HAL) has seen an 8% decline this year but has upside potential with strong demand for its services, particularly internationally. The company achieved record margins in Q1 2024 and expects growth in its international business, although North American revenues may remain flat due to weak demand for drilling.

Q1 2024 saw Halliburton’s adjusted net income grow to $679 million, driven by growth in international markets. While North American revenue fell, international revenue jumped by 12%, with growth in the Middle East/Asia, Europe/Africa, and Latin America. The company expects flat North American revenues and margin expansion internationally for FY 2024.

With a forecasted revenue of $24.6 billion and an EPS of 3.38 for 2024, Halliburton’s valuation has been revised to $42 per share. Comparisons with peers show HAL’s performance, with 2024 returns at -8% YTD and total returns from 2017-24 at -38%. Consider investing with Trefis Market-Beating Portfolios for potential gains.



Read more at Nasdaq: Halliburton Stock Down 8% This Year, What’s Next?