This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Halliburton Announces Second Quarter Earnings From Continuing Operations Of $0.80 Per Diluted Share

“In Middle East/Asia, we recovered well from the seasonal weather experienced by Australia in the previous quarter and sales in China rebounded sharply from seasonally low levels in the first quarter. Compared to the second quarter of last year, operating income across the region was up 59%, highlighted by a 72% improvement in our Asia Pacific countries.

“Going forward, we intend to maintain our market leading position in North America, strengthen our international margins, and grow our market share in deepwater and in underserved international markets. The results for this quarter clearly demonstrate that our ongoing strategy is working. Additionally, we believe we are well-positioned to capture additional market share in the expanding international unconventional basins by leveraging our technology and expertise developed in North America,” concluded Lesar.

2012 Second Quarter Results

Completion and Production

Completion and Production (C&P) revenue in the second quarter of 2012 was $4.5 billion, an increase of $170 million, or 4%, from the first quarter of 2012. Increased demand in oil and liquids-rich basins in the United States land market and strong Eastern Hemisphere growth more than offset the effects of the seasonal Canadian spring break-up.

C&P operating income in the second quarter of 2012 was $914 million, a decrease of $122 million, or 12%, from the first quarter of 2012. North America C&P operating income decreased $180 million, or 21%, from the first quarter of 2012, primarily due to increased costs associated with guar gum and pricing pressure in production enhancement services. Latin America C&P operating income was relatively flat compared to the first quarter of 2012, as increased activity in production enhancement services in Mexico was offset by higher costs in Mexico and Argentina. Europe/Africa/CIS C&P operating income increased $38 million, or 67%, from the first quarter of 2012 driven by increased activity and improved cost controls in Angola, improved completion tools results in Norway, and increased demand for cementing services in Russia. Middle East/Asia C&P operating income increased $21 million, or 40%, compared to the first quarter of 2012. This increase was primarily due to increased activity levels in Australia and higher production enhancement activity and completion tools sales in Qatar and Saudi Arabia.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs