Halliburton reported higher second-quarter earnings and revenue, citing stronger drilling and completion activity across key markets and an expanding pipeline of international contracts. The oilfield services provider posted net income of $534 million, or $0.64 per diluted share, up from $461 million, or $0.55 per share, in the first quarter, with adjusted earnings of $0.55 per share excluding special items. Revenue rose to $5.7 billion from $5.4 billion in the previous quarter, while operating margin reached 14%, and the company generated $824 million in operating cash flow and $668 million in free cash flow, repurchasing approximately $200 million of its shares during the quarter. CEO Jeff Miller said Halliburton sees a strong global outlook, pointing to growing international demand and a recovery in North America that is expected to continue through the rest of the year. The Completion and Production division generated $3.2 billion in revenue, up 6% sequentially, and the Drilling and Evaluation division revenue climbed 5% to $2.5 billion, while North America revenue increased 7% to $2.3 billion and international revenue rose 5% to $3.4 billion, led by a 19% jump in Europe and Africa.
Halliburton CompanyHalliburton reports higher earnings and revenue driven by stronger international demand and North America recovery.