Halliburton says Libya sanctions will hit earnings
HOUSTON — Halliburton Co. said Monday that turmoil in the Middle East and North Africa, and especially sanctions imposed on Libya, will cut first-quarter earnings by 3 cents to 4 cents per share.
The oilfield-services company also said winter weather usually shaves 5 cents to 8 cents per share from earnings, and this quarter might be on the high side because of severe weather in North America and Australia.
Analysts surveyed by FactSet expected 61 cents per share in the quarter ending this week.
Halliburton said it might incur charges due to unrest in the Middle East and North Africa, particularly Libya. It is scheduled to report results April 18.
Halliburton shares rose $1.86, or 4 percent, to $47.90 in regular trading before the announcement, then fell $1.03 to $46.87.