Halliburton's Outlook Overshadowed by Weak End to 2018
- Fracking giant gives disappointing forecast for fourth quarter
- CEO Jeff Miller says pipeline contraints are temporary issues
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Halliburton Co.’s optimistic outlook for the U.S. oil and gas industry in 2019 was overshadowed by a worse-than-expected projection for the final three months of this year as activity slows throughout North America.
Shares of the world’s biggest provider of fracking services dropped as much as 3.5 percent on Monday after it forecast earnings per share in the current quarter will be as much as 40 cents, compared with the 49-cent average of analysts’ estimates compiled by Bloomberg.