Halliburton (HAL) Q2 Earnings In Line on International Growth

Financial Performance - Halliburton Company (HAL) reported second-quarter 2024 adjusted net income per share of 80 cents, matching the Zacks Consensus Estimate and exceeding the year-ago profit of 77 cents [1] - Revenues for the quarter were $5.8 billion, which was $35 million higher than the same period in 2023 but fell short of the Zacks Consensus Estimate of $6 billion due to weak performance in North America [1] Regional Performance - North American revenues decreased by 8% year over year to $2.5 billion, missing projections of $2.6 billion [2] - International revenues increased by 8.1% from the previous year to $3.4 billion, surpassing estimates by $42.5 million [2] Segment Analysis - Operating income from the Completion and Production segment was $723 million, up from $707 million year over year but slightly below the projection of $728.1 million [2] - The Drilling and Evaluation unit's profit improved from $376 million in Q2 2023 to $403 million in Q2 2024, although it was below the estimated $417.3 million [3] Capital Expenditure and Cash Flow - Halliburton's capital expenditure for the second quarter was $347 million, exceeding the projection of $303 million [4] - The company generated $1.1 billion in cash flow from operations, resulting in free cash flow of $793 million [4] Management Insights - Management highlighted that strong returns and cash flow were key to the robust second-quarter results, with solid demand in international markets [5] - The company emphasized its service quality, strategic approach, and technological leadership as factors that will support future performance [5]