Haliburton (HAL) Jumps 11.6% on Upbeat International Outlook

We recently published 10 Stocks Leaving Wall Street in the Dust. Halliburton Company (NYSE:HAL) is one of the best performers on Tuesday.

Halliburton extended its winning streak to a third consecutive day on Tuesday, jumping 11.58 percent to end at $25.24 apiece, as investors cheered its optimistic outlook from international oilfields in the fourth quarter of the year, despite a dismal earnings performance in the past quarter.

“In the international market, our value proposition is winning with customers, we are demonstrating differentiated performance both on and offshore, and our growth engines are on track,” said Halliburton Company (NYSE:HAL) President and CEO Jeff Miller.

For the third quarter of the year, Halliburton Company (NYSE:HAL) saw its attributable net income dwindle by 97 percent to $18 million from $571 million in the same period last year.

Revenues dipped by 1.7 percent to $5.6 billion from $5.697 billion year-on-year, as revenues from completion and production decreased by 2.3 percent, while that of drilling and evaluation ended flat.

Looking ahead, Halliburton Company (NYSE:HAL) said it took steps to deliver estimated savings of $100 million per quarter, reset its 2026 capital expenditures, and idled equipment that no longer meets its expectations.

“We are committed to returning cash to shareholders, maintaining cost and capital discipline, and investing in differentiated technologies that drive long-term performance,” Miller said.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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