Jul 18, 2011
Halliburton (NYSE:HAL) reported Q2 EPS of 81 cents, ex-items, topping estimates of 73 cents per share. Revenue rose 34% year-over-year to $5.9 billion, better than the $5.7 billion analysts were expecting.
International revenue grew 8% vs the prior quarter while North America rose 16% sequentially.
Dave Lesar, chairman, president, and chief executive officer said, "We have for some time expressed confidence in the strength of the North America cycle, and our results this quarter validate our positive view on the market. Strong crude prices, operators' improved cash flows combined with their ability to access capital, and the increasingly liquids-rich nature of the United States land market, give us continued confidence in the strength of North America through 2012."
Halliburton (NYSE:HAL) has a potential upside of 20.1% based on a current price of $53.08 and an average consensus analyst price target of $63.76.
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