Halliburton slides as Q1 profit drops, weighs on oilfield services sector

Shares of oilfield services provider Halliburton HAL.N fall more than 8% to $20.10 after co posts lower Q1 profit

HAL results drag down stocks of other OFS stocks even as the broader S&P 500 energy sector .SPNY climbed 1.5%

Shares of SLB SLB.N down 1.7%, Baker Hughes falls ~1% and Patterson-UTI Energy PTEN.O slips 2.3%

*HAL is the first of the Big Three U.S. OFS firms to report results; BKR will post results on Tuesday after markets close while SLB reports on Friday

*HAL reports Q1 profit of $204 million, or 24 cents per share, vs $606 million, or 68 cents per share last year; driven by a slowdown in drilling activity in North America

Says Q1 revenue in North America fell 12% to $2.2 bln

*Co also expects a 2 cents to 3 cents per share impact in Q2 from ongoing tariffs-related trade tensions

Analysts were expecting HAL to post Q2 profit of 63 cents per share, according to LSEG data

Including session's moves, HAL shares are down 25.6% YTD