Financial Data and Key Metrics Changes - The reported net income per diluted share for Q2 2025 was $0.55, with total company revenue of $5.5 billion, reflecting a 2% increase compared to Q1 2025 [19] - Operating income was $727 million, with an operating margin of 13% [19] - Cash flow from operations was $896 million, and free cash flow was $582 million [19] Business Line Data and Key Metrics Changes - Completion and Production division revenue for Q2 was $3.2 billion, a 2% increase from Q1, but operating income decreased by 3% to $513 million [20] - Drilling and Evaluation division revenue also increased by 2% to $2.3 billion, but operating income decreased by 11% to $312 million [21] Market Data and Key Metrics Changes - International revenue for Q2 was $3.3 billion, showing a 2% sequential growth, with notable increases in Latin America and Europe Africa [9] - North America revenue remained flat at $2.3 billion, with seasonal improvements offset by lower service pricing and reduced artificial lift activity [13] Company Strategy and Development Direction - The company plans to align its business with current market conditions by reducing costs and reallocating underperforming assets [26] - Halliburton aims to focus on growth engines such as unconventionals, drilling, production services, and artificial lift, which are seen as key to its international strategy [9][12] Management's Comments on Operating Environment and Future Outlook - Management noted that the oilfield services market is expected to be softer than previously anticipated due to reduced activity and lower discretionary spending in international markets [6] - The company remains confident in its future, emphasizing its differentiated technology and collaborative approach to maximize asset value for customers [18] Other Important Information - The company expects international artificial lift revenue to grow over 20% this year and plans to double the installed base of its remote operations and automation platform [13] - Capital expenditures for Q2 were $354 million, with expectations to be about 6% of revenue for the full year [25] Q&A Session Summary Question: C and P margins were softer in the quarter; what are the contributing factors? - Management explained that the softness was due to lower pricing for stimulation services in the U.S. and reduced activity in Saudi Arabia, with expectations for a 1% to 3% revenue decline in Q3 [30][32] Question: What is the outlook for customer activity in North America? - Management indicated that customers are cautious and focused on conserving cash, with expectations for activity to pick up earlier in 2026 but not until there are catalysts for change [35][36] Question: How is Halliburton positioned in the unconventional market, particularly in the Middle East? - Management expressed confidence in their positioning and noted ongoing work in the UAE, emphasizing a disciplined approach to bidding based on returns [56][57] Question: What is the impact of tariffs on the artificial lift market? - Management acknowledged that tariffs have affected the U.S. land artificial lift market, with efforts underway to adjust the supply chain [105] Question: What is the expected performance in Mexico and Kuwait? - Management noted solid growth expectations in Kuwait, while Mexico's performance remains uncertain due to ongoing issues [108]

Financial Data and Key Metrics Changes - The reported net income per diluted share for Q2 2025 was $0.55, with total company revenue of $5.5 billion, reflecting a 2% increase compared to Q1 2025 [19] - Operating income was $727 million, with an operating margin of 13% [19] - Cash flow from operations was $896 million, and free cash flow was $582 million [19] Business Line Data and Key Metrics Changes - In the Completion and Production division, Q2 revenue was $3.2 billion, a 2% increase from Q1 2025, but operating income decreased by 3% to $513 million [20] - The Drilling and Evaluation division reported Q2 revenue of $2.3 billion, also a 2% increase from Q1 2025, but operating income decreased by 11% to $312 million [21] Market Data and Key Metrics Changes - International revenue for Q2 was $3.3 billion, showing a 2% sequential growth, with notable increases in Latin America and Europe Africa, while Saudi Arabia experienced a reduction in activity [8][22] - North America revenue remained flat at $2.3 billion compared to Q1 2025, with seasonal improvements offset by lower service pricing and reduced artificial lift activity [13][14] Company Strategy and Development Direction - The company plans to align its business with current market conditions by reducing costs and reallocating underperforming assets [27] - Key growth engines identified include unconventionals, drilling, production services, and artificial lift, with a focus on technology and operational excellence [9][27] Management's Comments on Operating Environment and Future Outlook - Management noted that the oilfield services market is expected to be softer than previously anticipated due to reduced activity and lower discretionary spending in international markets [5] - The company remains confident in its strategic execution and believes it is well-positioned to deliver industry-leading returns despite near-term challenges [6][18] Other Important Information - Capital expenditures for Q2 were $354 million, with expectations for full-year capital expenditures to be about 6% of revenue [25] - The company anticipates a negative impact from tariffs of approximately $35 million in Q3 2025 [26] Q&A Session Summary Question: About C and P margins and guidance for Q3 - Management explained that softer margins were due to reduced activity in Saudi Arabia and pricing headwinds in U.S. Land, with expectations for a 1% to 3% revenue decline in Q3 [30][31][32] Question: Customer conversations regarding North American frac business - Management indicated that customers are cautious and focused on technology and service quality, with expectations for activity to pick up in early 2026 [34][35] Question: Current state of E&Ps and pricing dynamics - Management discussed the importance of supply and demand fundamentals, noting that they will not work at uneconomic levels and will strategically stack fleets as necessary [40][45] Question: Unconventional market opportunities - Management highlighted growth potential in Argentina and Saudi Arabia, with expectations for continued double-digit growth in international frac business [48][50] Question: Cost structure and margin protection - Management emphasized the need to variabilize costs and maintain efficiency, targeting a reduction in costs as activity slows down [76][78] Question: Impact of tariffs on artificial lift market - Management confirmed that tariffs are affecting the U.S. land artificial lift market, while international demand is driven by technology in conventional wells [104][105] Question: Outlook for Mexico and Kuwait - Management expressed optimism for growth in Kuwait, while noting that issues in Mexico remain unsettled, leading to a cautious outlook [107][108]

Core Viewpoint - Liberty Energy Inc. (LBRT) is expected to report second-quarter earnings on July 24, with earnings estimated at 15 cents per share and revenues at $1.01 billion, reflecting significant year-over-year declines in both metrics [1][9]. Group 1: Recent Performance - In the previous quarter, LBRT reported adjusted net income of 4 cents per share, exceeding the Zacks Consensus Estimate by 1 cent, driven by improved operational efficiency and higher utilization of its frac and wireline fleets [3]. - The company's revenues for the last quarter were $977.5 million, surpassing the Zacks Consensus Estimate by 3.4% [3]. - LBRT has beaten the Zacks Consensus Estimate three times in the last four quarters, with an average surprise of 6.98% [3]. Group 2: Q2 Earnings Expectations - The Zacks Consensus Estimate for second-quarter earnings indicates a 75.41% year-over-year decline, while revenues are expected to decrease by 13.04% from the previous year's $1.16 billion [4][5][9]. - Factors contributing to the anticipated revenue decline include a subdued global macroeconomic environment and fluctuating energy prices, which typically affect demand for hydraulic fracturing services [6]. Group 3: Cost Management - LBRT is expected to see a reduction in operating expenses, projected to reach $963.3 million, down 5.4% from the previous year [7]. - The cost of services is anticipated to decrease from $835.8 million to $783.6 million, which may help mitigate the impact of lower revenues [7][9]. Group 4: Earnings Prediction Model - The Zacks model does not indicate a conclusive earnings beat for LBRT this quarter, with an Earnings ESP of -6.21% and a Zacks Rank of 4 (Sell) [8][10].

Core Viewpoint - Schlumberger is a leading company in the oilfield services industry, offering a diverse range of services including well construction, reservoir performance, digital services, and well management. The company has experienced a decline in oil prices and stock value in recent months, which may present strategic buying opportunities for investors [1]. Group 1: Company Overview - Schlumberger (NYSE: SLB) is recognized as a world leader in the oilfield services sector [1]. - The company provides a wide array of services that cater to various aspects of oilfield operations [1]. Group 2: Market Performance - Recent trends indicate that both oil prices and Schlumberger's stock have drifted lower in recent months [1]. - The company has recently reported its earnings, which could influence investor sentiment and market positioning [1].

It's time for the final trade. Let's go around the horn. Mike, you get to start us off.Yeah, I think you can still continue to play BABA to the upside. Use call spread risk reversals. All right, Tim.Courtney, first of all, thank you for all your help this week. We had a lot of Courtney this week. It was great.Google, I think next week, again, the setup is easy. I think the tailwind for cloud and what's going on broadly in the sector. YouTube up 13%.I like it. Bonoan, I think you've heard from both SLB and H ...

Core Insights - SLB reported Q2 2025 earnings of 74 cents per share, exceeding the Zacks Consensus Estimate of 73 cents, but down from 85 cents in the same quarter last year [1][10] - Total quarterly revenues reached $8.55 billion, surpassing the Zacks Consensus Estimate of $8.49 billion, but decreased from $9.14 billion year-over-year [1][10] - The positive quarterly results were mainly driven by international growth, strong digital revenues, and increased demand for production systems [2] Segment Performance - Digital & Integration unit revenues totaled $995 million, a 5% decline from the previous year, with pre-tax operating income slightly up to $327 million, missing the Zacks estimate of $330 million [3] - Reservoir Performance unit revenues decreased by 7% to $1.69 billion, with pre-tax operating income down 16% to $314 million, but beating the Zacks estimate of $297 million [4] - Well Construction segment revenues fell 13% to $2.96 billion, with pre-tax operating income down 26% to $551 million, aligning with the Zacks estimate [5] - Production Systems segment revenues increased slightly to $3.04 billion, with pre-tax operating income up 5% to $499 million, exceeding the Zacks estimate of $488 million [6] Financials - SLB reported free cash flow of $622 million for Q2 2025 [7] - As of June 30, 2025, the company had approximately $3.75 billion in cash and short-term investments, with long-term debt at $10.89 billion [7] Outlook - SLB's full-year 2025 capital investment guidance is approximately $2.4 billion, lower than the 2024 level of $2.6 billion [8] Stock Performance - SLB currently holds a Zacks Rank 5 (Strong Sell) [9]

Schlumberger Limited SLB will release earnings results for the second quarter, before the opening bell on Friday, July 18.Analysts expect the Westlake, Texas-based company to report quarterly earnings at 75 cents per share, down from 85 cents per share in the year-ago period. Schlumberger projects to report quarterly revenue at $8.51 billion, compared to $9.14 billion a year earlier, according to data from Benzinga Pro.On April 25, SLB reported worse-than-expected first-quarter 2025 results.SLB shares gaine ...

The world’s biggest oilfield-service companies are expected to post the steepest profit declines in roughly four years as shale drilling slows https://t.co/Orc75d04jR ...

Core Viewpoint - Halliburton Company (HAL) is expected to report second-quarter earnings on July 22, with a consensus estimate of 56 cents per share and revenues of $5.4 billion, reflecting a challenging operating environment primarily due to North American market pressures and declining margins in its Drilling & Evaluation division [1][8]. Group 1: Q1 Performance and Trends - In the first quarter, Halliburton met the consensus estimate with an adjusted net income of 60 cents per share and revenues of $5.4 billion, surpassing the Zacks Consensus Estimate of $5.3 billion [2]. - Over the last four quarters, Halliburton has beaten the Zacks Consensus Estimate once and matched it three times, with the second-quarter estimate indicating a 30% year-over-year decline in earnings and a 6.7% decrease in revenues [3]. Group 2: Factors Influencing Q2 Performance - The North American business is under pressure due to weaker commodity prices and customer uncertainty, with expected sales of $2.3 billion, representing a 6.6% year-over-year decline [4]. - The projected gross profit for the second quarter is $846.8 million, down nearly 25% from the previous year, attributed to a significant margin decline in the Drilling & Evaluation division, with an estimated operating margin of 13.8%, down 280 basis points [5]. Group 3: Strategic Developments - Halliburton's shift towards digitalization and integrated services is gaining traction, particularly with the Zeus IQ platform, which enhances automation and efficiency in hydraulic fracturing, potentially stabilizing revenues and improving client relationships [6][8].

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Baker Hughes due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Baker Hughes is expected to report quarterly earnings of $0.55 per share, reflecting a -3.5% change year-over-year, with revenues projected at $6.63 billion, down 7.1% from the previous year [3]. - The consensus EPS estimate has been revised 0.41% lower in the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Baker Hughes is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +3.03% [12]. - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a favorable Zacks Rank [10]. Historical Performance - In the last reported quarter, Baker Hughes exceeded the expected earnings of $0.47 per share, achieving $0.51, which was a surprise of +8.51% [13]. - Over the past four quarters, the company has consistently beaten consensus EPS estimates [14]. Investment Considerations - Despite a positive Earnings ESP, Baker Hughes currently holds a Zacks Rank of 4, complicating predictions of an earnings beat [12]. - The potential for stock movement is influenced by various factors beyond earnings results, including market conditions and investor sentiment [15].