Halliburton reports Q2 EPS 55c, consensus 56c

Reports Q2 revenue $5.5B, consensus $5.43B. “Halliburton (HAL) today is more differentiated, with deeper technology advantages to address our customers’ requirements, and more collaborative than ever before. I believe our value proposition, to collaborate and engineer solutions to maximize asset value for our customers, is a powerful driver of both customer and shareholder value,” commented Jeff Miller, Chairman, President and CEO. “What I see tells me the oilfield services market will be softer than I previously expected over the short to medium term. We will of course take action to address this near term softness, and we remain fully committed to our shareholder returns framework. “In international markets, while activity reductions in a few large markets will likely overshadow the solid performance of other geographies, I am confident our strategy is the right one, and our growth engines, including unconventionals, drilling, production services and artificial lift, remain key to that strategy. “In North America, my customer conversations tell me technology and service execution are key to maximizing the value of their assets and I believe Halliburton has unmatched capability to deliver both of these at scale, which is why I expect Halliburton to continue to outpace our competitors in this important market,” concluded Miller.