Halliburton’s second quarter earnings report shows a 15 percent drop in North America revenue but company leaders remain optimistic. Revenues totaled $1.5 billion and the operating loss came to $124 million.
“Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe,” commented Dave Lesar, chairman and CEO.
International revenue was $2.3 billion, a drop of 4 percent from a year ago. The international operating income was $246 million, a drop of $64 million or 21 percent.
Revenue in Latin America was down 12 percent, landing at $476 million, but Lesar said overall, Halliburton’s activity outlook has not changed and the company strategy is working.
“During the coming recovery, we plan to scale up our integrated delivery platform by addressing our product line building blocks one at a time through a combination of organic growth and selective acquisitions.
Halliburton recorded $1 billion in second quarter revenue in the Middle East and Asia. That’s a drop of 3 percent with $160 million in operating income, a decline of 22 percent.