An Earnings Beat: World’s No. 2 oilfield-services company Halliburton Company (HAL - Free Report) reported fourth quarter income per share from continuing operation (adjusted for Venezuela write-downs and charges associated with U.S. tax reform) of 53 cents, higher than the Zacks Consensus Estimate of 46 cents. Strong drilling activity and pricing on the back of recovery in crude prices led to the outperformance.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 30 days.

Nonetheless, Halliburton have an impressive earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in all prior four quarters, as shown in the chart below:

Halliburton Company Price and EPS Surprise

Halliburton Company Price and EPS Surprise | Halliburton Company Quote

Overall, the company has a positive earnings surprise of 41.2% in the trailing four quarters.

Revenues: Halliburton posted revenues of $5,940 million, beating the Zacks Consensus Estimate of $5,567 million. Also, it compared favorably with the year-ago number of $4,021 million.

Key Stats: Operating income from the Completion & Production segment was $552 million, significantly higher than the year-ago level of $85 million. The division also improved from previous quarter’s income of $525 million.

Halliburton’s Drilling & Evaluation unit profit improved from $248 million in the fourth quarter of 2016 to $291 million this year. The number was also above the $180 million earned in the September quarter.

Zacks Rank: Currently, Halliburton carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.