July 24, 2017 / 11:08 AM / a year ago

BRIEF-Halliburton reports Q2 adj EPS $0.23 from continuing operations

July 24 (Reuters) - Halliburton Co

* Halliburton announces second quarter 2017 results

* Q2 adjusted earnings per share $0.23 from continuing operations

* Q2 earnings per share $0.03 from continuing operations

* Q2 earnings per share view $0.18 — Thomson Reuters I/B/E/S

* Q2 revenue $5.0 billion versus i/b/e/s view $4.86 billion

* ‍Q2 results include a $0.04 per diluted share impact from litigation settlements​

* Completion and production revenue in Q2 of 2017 was $3.1 billion, an increase of $528 million, or 20 pct, from Q1 of 2017

* Drilling and evaluation revenue in Q2 of 2017 was $1.8 billion, an increase of $150 million, or 9 pct, from Q1 of 2017

* Qtrly north america revenue growth of 24 percent outpaced average sequential U.S. Land rig count growth of 21 percent

* ‍Q2 results also include impact from one-time executive compensation charge​

* Expects to exchange $375 million of outstanding trade receivables with primary customer in venezuela for interest-bearing promissory note

* ‍”Confident about halliburton’s ability to grow north america margins​”

* Revenue from ‍completion and production segment improvements in quarter due to improved pressure pumping utilization, pricing in U.S. Land market​

* North America revenue improvement in Q2 driven primarily by increased utilization and pricing throughout U.S. land sector

* ‍Confident about co’s ability to continue to maintain run rate for international business​

* Recognized pre-tax charge of $262 million for fair market value adjustment related to expected trade receivables exchange with venezuela customer

* Q2 ‍drilling and evaluation revenue increases primarily due to increased drilling activity in North America, Latin America, North Sea, Russia

* In quarter, ‍recognized a $262 million fair market value adjustment associated with an expected promissory note in venezuela​

* International revenue growth in Q2 resulting primarily from higher drilling activity in Latin America

* International revenue growth in Q2 also from increased well completion, drilling services in Europe/Africa/CIS, fluid activity in eastern hemisphere Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below