Halliburton 1st Quarter Earnings Surge

[Triana]

Government by Halliburton, of Halliburton, for Halliburton. Is anyone surprised they're making money hand over fist off the backs of Americans paying rediculously high prices for oil and gas? I won't even mention the overpriced, no-bid contracts they were handed with OUR taxpayer dollars in Iraq or the shitty shabby work they did and continue to do on those contracts.
_ _ _ _ _

HOUSTON (Reuters) - Halliburton Co. (NYSE:HAL - news), the world's No. 2 oilfield services company, posted sharply higher first-quarter earnings on Thursday as energy producers continued to spend heavily to boost oil and gas output.

The Houston-based company reported first-quarter net income of $488 million, or 91 cents per share, versus $365 million, or 72 cents per share in the year-earlier quarter.

Net income for the quarter from continuing operations was 90 cents per share, beating analysts consensus forecast of 88 cents per share, according to Reuters Estimates.

Revenue rose to $5.21 billion from $4.78 million a year earlier.

Halliburton, like other energy service companies, has registered a sharp jump in profits over the past two years as soaring energy prices have spurred oil and gas companies to ramp up production.

http://news.yahoo.com/s/nm/20060420/bs_nm/energy_halliburton_earns_dc_4

[Horse with no Name]

1. Color me shocked

:crazy:

[luckyleftyme2]

2. and the game goes on

IS IT ANY WONDER: that he told "bush" i could find no other to be your second(vp) so i'll do it.
if there is any decent politicians left in washington they"ll make jail birds outta these two
oil company puppets!

[Tight_rope]

3. CROOKS!....N/T

[BrklynLiberal]

4. Weren't they on the verge of bankruptcy before * was elected?

[napi21]

5. Yes, and that's just comparing 05 to 04. I wonder what their

earnings were BEFORE Iraq?????

[Triana]

8. I'd like to see their earnings for the past 7 years...

...just out of curiosity, ya know?

[napi21]

12. Well, this info is close to what you're looking for.

Past Quarterly Results
Quarter Sales (MM) EPS Profit
Margin

12/05 $5,798 $1.06 9.7%

9/05 $5,095 $0.99 10.3%

6/05 $5,163 $0.76 7.6%

12/04 $5,201 $0.49 4.2%

9/04 $4,790 $0.42 3.9%

Past Fiscal Year Results
Year Sales (MM) EPS Profit
Margin

FY 2001 $13,046 $1.89 6.20%

FY 2000 $11,944 $1.13 4.19%

FY 1999 $14,898 $1.00 2.94%

FY 1998 $17,353 ($0.03) -0.08%

FY 1997 $8,819 $1.78 5.15%

FY 1996 $7,385 $1.19 4.07%

http://www.stockselector.com/earnings.asp?symbol=HAL

[Triana]

13. Strange. Where is 2002 and 2003?

Hmmm...notice the big jump in 2001.

[salin]

18. which year(s) were they caught filing fraudulent reports

due to a practice of booking overruns on govt projects as 'profits'. Before 911 (as in WE KNOW THEY DID THIS) they had a habit of lowballing bids in order to get govt jobs, then when the real costs (and profits) came in - they would have to file suits to try negotiate to get some of those costs paid by the govt - generally they wouldn't get anything, sometimes a little, never all and if I recall the news stories it averaged out to about 15 cents per dollar. Yet they booked the expected overcharge recoup as 100% profit, and wouldn't take off the books until it was settled with the govt entity. I think they were caught in 2001 (maybe 2002) - and the practice maybe stretched back to 1999? Certainly to 2000.

[Triana]

23. Well now one of them is part of the 'gov't entity'

...so the plutocracy is obviously live and well. Tricky Dick II still playing the game, but now from both sides - just take the $$ from the public and put it in Halliburton's coffers. Weeeeeee! Don't have to worry about getting caught anymore.

:mad:

[Tight_rope]

6. I'LL BE SURPRISED WHEN THEY FILE CHAPTER 7,11 & 13!

[rumpel]

7. "earnings" ? They meant "pilfering"

Rep. Waxman Calls for Subpoena of Documents on Halliburton Profits
Monday, February 27, 2006 -- In a letter to Chairman Davis, Rep. Waxman outlines over $250 million in cost reimbursements, profits, and bonuses that Halliburton has received from the Army Corps of Engineers for billings Defense Department auditors deemed unreasonable and unsupported. Rep. Waxman requests that the Committee subpoena key documents relating to Halliburton’s bonuses that the Defense Department has failed to provide.

http://www.democrats.reform.house.gov/story.asp?ID=1015&Issue=Iraq+Reconstruction

[Triana]

11. HA! Exactly. Pilfering the Public Coffers ...

...has Carlyle bought them yet? Or do they already own them? I swear I've never seen such a humongous crime ring as the BFEE. Carlyle, Halliburton/KBR, etc. etc.

The tentacles practically strangle the entire country - and parts of the entire world. Squeezing out every last drop of blood, profit, and oil at any cost to anyone - except themselves, of course.

Bastards.

[Jayhawk Lib]

9. Business is good....nt

[Just Me]

10. Cheney's EXPLOITATION policy to profiteer is succeeding.

Must feel great to be an amoral, greedy fuck getting the buck he wanted, with little resistence.

[Rex]

14. That is B for billion.

A billion dollar organization is a whole different monster than a million dollar company. Watch the monster gain more and more over the next three years.

Oh yeah, Hallibuton...a wart on the ass of someone like the Carlyle Group. There are monsters and then there are MONSTERS...

http://www.thecarlylegroup.com/eng/portfolio/index.html

[killbotfactory]

15. Nothing to see here

Move along

[OneBlueSky]

16. those are your dollars -- and mine -- that Halliburton is reaping . . .

well, that's not technically true . . . they're actually the dollars of our children, our grandchildren, our great grandchildren -- and on, and on, and on, ad infinitum . . .

[Peter Frank]

17. When Does the Average American Begin to Grasp the Obvious?...

This admin is only friendly to the most powerful "entrepreneurs."

[Triana]

24. Around the time the mainstream media starts reporting on it...

...NEVER. Most people listen to CNN, Faux, MSRNC (who owns them?). They don't have a freakin clue...

[sarcasmo]

19. Kick and Nom for Enron 2, same scam but with Oil.

[Starbucks Anarchist]

20. This comes as a surprise to exactly nobody.

[dusty64]

21. Jeesh this is

a fuckin shock, NOT! Where exactly IS the outrage? Can anyone imagine a corporation tied to Gore in this situation........

[Triana]

25. They'd have lynched Gore or any Democrat for such obvious

plutocratic practices.

[oneinok]

22. Gear for the troops

Do you think they would use some of that profit to buy gear for the troops?

[Triana]

26. From what I read, they cut funding for that in the latest budget? (n/t)