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Halliburton: Q2 Earnings Snapshot
International demand offset weaker Middle East activity as Halliburton posted $534 million in profit and $5.71 billion in revenue, both above estimates.
- On Tuesday, Halliburton reported second-quarter revenue of $5.7 billion, a 6% sequential increase, with net income of $534 million beating Wall Street estimates as international demand offset declining Middle East activity.
- Global performance varied, with international revenue reaching $3.4 billion, a 6% year-over-year increase; Middle East revenue dropped nearly 11% to $1.3 billion due to regional conflict affecting Kuwait, Iraq, and Qatar.
- Completion and Production revenue rose 6% sequentially to $3.2 billion, while Drilling and Evaluation revenue grew 5% to $2.5 billion. Halliburton generated $824 million in operating cash flow and $668 million in free cash flow.
- CFO Eric Carre reported the company repurchased about $200 million in stock and paid $143 million in dividends. Halliburton incurred $46 million in SAP S4 migration expenses while maintaining full-year capital expenditure guidance of about $1.1 billion.
- Management projects low double-digit international growth for 2026 driven by offshore and unconventional expansion. CEO Jeff Miller expressed confidence that differentiated technology and value proposition set the stage for continued revenue growth and margin expansion.
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Halliburton surpassed profit expectations in the second quarter, but its actions fall after the oil field service giant records a substantial decline in sales in the Middle East, with the impacts of the US war with Iran affecting business. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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Halliburton beats estimates on Europe, Latin America oilfield services demand
July 21 (Reuters) - Halliburton edged past Wall Street estimates for second-quarter profit on Tuesday, as steady demand for its oilfield equipment in Latin America, Europe and Africa offset declining activity in the Middle East due to the Iran war. T...
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Total News Sources14
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
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