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Halliburton reports profit in 2Q21

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Oilfield Technology,

Halliburton has announced a net income of US$227 million, or US$0.26 per diluted share, for 2Q21.

This compares to net income for 1Q21 of US$170 million, or US$0.19 per diluted share. Halliburton's total revenue for 2Q21 was US$3.7 billion, compared to revenue of US$3.5 billion in 1Q21. Operating income was US$434 million in 2Q21 compared to operating income of US$370 million in 1Q21.

“Our second quarter performance demonstrates that our strategy is working well and Halliburton’s strategic priorities are driving value in this transition year. Total company revenue increased 7% sequentially, as both North America and international markets continued to improve, and operating income grew 17% with solid margin performance in both divisions,” commented Jeff Miller, Chairman, President and CEO.

“Halliburton’s Completion and Production division margin reached three-year highs, while our Drilling and Evaluation division margin outperformed expectations, setting both divisions up for robust margin growth this year.

“Our solid free cash flow generation further demonstrates the effectiveness of our strategy to strengthen the cash flow profile of our business.

“The positive activity momentum we see in North America and international markets today, combined with our expectations for future customer demand, gives us conviction for an unfolding multi-year upcycle.

“Halliburton’s value proposition, unique exposure to both international and North America markets, and differentiated technologies across an integrated services portfolio solidify our sustainable competitive advantage, and deliver strong free cash flow and industry-leading returns,” concluded Miller.

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