Awww. Halliburton share price falls as profits arent what was expected.

[n2doc]

Stock sheds 6% on missed per-share earnings

By Jim Jelter, MarketWatch
Last Update: 10:07 AM ET Jul 21, 2006

SAN FRANCISCO (MarketWatch) -- Halliburton Co. reported late Thursday a 51% increase in its second-quarter profit, with a sharp rise in oilfield services revenue more than offsetting a loss for its KBR subsidiary caused by a decline in U.S. Defense Department contracts in the Middle East and costly delays on a big natural gas project in Nigeria.
But the results fell short of what investors had been looking for, triggering a sell-off at the open Friday that sent the stock as much as 7.5% lower to $30.22 a share.

Halliburton's energy services group accounted for $3.12 billion of sales during the quarter, up 26% from a year ago, while its government services segment provided $1.88 billion, energy and chemicals provided $548 million, and KBR adding the remaining $2.43 billion.
Dave Lesar, chairman, president and chief executive officer of Halliburton, said in a statement that operating margins for the energy services group were above 25% on strong demand for oil field services. The sector has been booming as crude oil prices hit record highs, spurring a rush by oil companies to tap new resources.

KBR, which has held lucrative U.S. Army service and supply contracts awarded by the Bush administration on a no-bid basis after the invasion of Iraq, reported a 3% drop in revenue.

Comment- I still hope for the day this company pulls and Enron and goes bankrupt.

[whistle]

1. So stock holders were expecting an 851% increase in profits

...Dick Cheney I hear has sold short

[partylessinOhio]

2. Oh, but Halliburton will pay billions to the Dickster won't they?

Let the stockholders eat cake but pay him first!

[FSogol]

3. However their profits almost doubled. From the WAPO:

"Halliburton, an oil services conglomerate, said its second-quarter profit nearly doubled, to $591 million from $392 million a year earlier, mostly on strong demand for and higher prices charged by its energy services sector. Revenue rose 12 percent, to $5.54 billion."

http://www.washingtonpost.com/wp-dyn/content/article/2006/07/20/AR2006072001887_2.html

[marmar]

4. I guess BushCo will have to invade a new country for them to exploit...

So Dick's stock options can rise again.

[dysfunctional press]

5. long-term holders didn't sell it- they bought it.

at a bargain price.

[babylonsister]

6. And from yesterday, Halliburton Almost Doubles Earnings

Halliburton Almost Doubles Earnings

http://biz.yahoo.com/ap/060720/earns_halliburton.html?....

HOUSTON (AP) -- Oil services conglomerate Halliburton Co. posted second-quarter net income nearly double that of a year ago mostly on strong demand for and higher prices charged by its energy services sector, the company announced late Thursday.

Net income was $591 million, or 55 cents per share, compared with $392 million, or 38 cents per share, in the second quarter of 2005. Results in the most recent quarter include $82 million in after-tax income from discontinued operations, or 7 cents per share, and a pretax gain of $123 million on the sale of the production services group of KBR, Halliburton's construction and engineering segment.

Revenue reached $5.54 billion, up 12 percent from $4.97 billion in the year-ago period.

The energy service segment's performance reflected increased rig activity, higher use of assets and higher prices, the company said.

[sgxnk]

7. kewl

i sold my HAL stock quite some time ago

still long Boeing