Halliburton Reports Increased Q2 Profit Driven by International Gains
Halliburton Company (NYSE: HAL) reported a net income of $709 million or $0.80 per share for the second quarter of 2024, up from $610 million in the same period last year. The company's revenue for the quarter rose by 0.5% to $5.83 billion, compared to $5.80 billion the previous year. The increase in profit was attributed to stable demand for drilling equipment and services from international customers.
International revenue rose 3% to $3.4 billion, driven by growth in Europe, Africa, and the Middle East, while North America revenue increased 3% sequentially. Operating income also saw sequential growth due to improved activity mix from completion tool sales in the Eastern Hemisphere, international stimulation activity and well intervention services, and cementing services in the Western Hemisphere. Additionally, Halliburton introduced new technologies such as the GeoESP® advanced submersible and surface pump technology and the Sentinel ProemC™ single-sack packaging.
