Halliburton cites international pipeline and North American recovery alongside earnings beat
Halliburton Co. reported higher profit and revenue for the second quarter on Tuesday, beating Wall Street forecasts as the oilfield-services company posted gains in both its international and North American operations.
The Houston-based company reported net income of $534 million, or 64 cents a share, compared with $472 million, or 55 cents a share, in the same quarter a year earlier.
Revenue increased 3.7% to $5.71 billion, ahead of the $5.5 billion that analysts had expected, according to analyst estimates reported by The Wall Street Journal. Excluding one-time items, adjusted earnings were 55 cents a share, a penny above the consensus estimate of analysts polled by FactSet, the Journal reported.
The company notched gains in its completion-and-production unit and its drilling-and-evaluation unit.
Chief Executive Jeff Miller said the company has a strong pipeline of opportunities in international markets and saw an encouraging recovery in North America during the second quarter, according to the Journal.
Halliburton shares slipped 0.31% in Tuesday trading.