Halliburton (HAL) Drops Ahead of Earnings Results

Halliburton Company (NYSE:HAL) is one of the stocks that bleed heavily.

Halliburton dropped its share prices by 4.59 percent on Monday to close at $22.02 apiece, as investors repositioned portfolios ahead of its expected earnings release this week.

Based on its historical earnings reporting dates, Halliburton Company (NYSE:HAL) is set to report its second quarter financial and operating results anytime this week or early next week.

Investors will be closely watching out for its earnings results, especially following a slump in its net income in the first quarter of the year.

During the period, Halliburton Company’s (NYSE:HAL) attributable net income fell by 66 percent to $204 million from $606 million registered in the same period last year.

Revenues, on the other hand, were lower by 6.7 percent to $5.4 billion from $5.8 billion year-on-year.

Halliburton (HAL) Drops Ahead of Earnings Results

A drilling rig in the desert with an orange sunset in the background.

Last month, Halliburton Company (NYSE:HAL) bagged a new contract to design and drill wells for GeoFrame Energy’s geothermal and direct lithium extraction project. Work is expected to begin in late 2025.

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Disclosure: None. This article is originally published at Insider Monkey.