Research Desk Line-up: Baker Hughes, a GE company Post Earnings Coverage

LONDON, UK / ACCESSWIRE / July 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Halliburton Co. (NYSE: HAL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=HAL, following the Company's posting of its second quarter fiscal 2017 earnings results on July 24, 2017. The world's No.3 oilfield services provider outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Oil & Gas Equipment & Services industry. Pro-TD has currently selected Baker Hughes, a GE company (NYSE: BHGE) for due-diligence and potential coverage as the Company announced on July 28, 2017, its pre merger Baker Hughes Inc. financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Baker Hughes, a GE company when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HAL; also brushing on BHGE. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended June 30, 2017, Halliburton reported revenue of $4.96 billion compared to revenue of $3.84 billion in Q2 2016. The Company's revenue results exceeded analysts' forecasts of $4.86 billion. Halliburton's operating income totaled $146 million for Q2 2017 compared with operating loss of $3.88 billion in Q2 2016, while its total adjusted operating income for the reported quarter was $408 million. These results were primarily driven by continued strengthening of market conditions in North America, which were partially offset by pricing pressure internationally.

Halliburton's corporate and other expense was $114 million in Q2 2017, inclusive of approximately $42 million of litigation settlements and a one-time executive compensation expense. Of the $42 million, $29 million is related to a loss contingency in connection with an understanding with the Securities and Exchange Commission (SEC) staff to settle the previously disclosed investigation of certain past matters related to the Company's operations in Angola and Iraq.

Halliburton reported income from continuing operations of $28 million, or $0.03 per diluted share, for Q2 2017 compared with a loss of $3.21 billion, or $3.73 a share, in Q2 2016. The Company's adjusted income from continuing operations for the reported quarter, excluding a fair market value adjustment associated with an expected promissory note in Venezuela, was $201 million, or $0.23 per diluted share, outperforming Wall Street's expectations for earnings of $0.18 per share.

Operating Segments

During Q2 2017, Halliburton's Completion and Production revenue totaled $3.1 billion, reflecting an increase of 20% from Q1 2017; while operating income was $397 million, an increase of $250 million on a q-o-q basis. The Company stated that these improvements were primarily driven by improved pressure pumping utilization and pricing in the United States land market, while they were also supported by increased well completion activity in the Gulf of Mexico, North Sea, and Russia.

Halliburton's Drilling and Evaluation segment's revenue rose 9% on a q-o-q basis to $1.8 billion, while the segment's operating income was $125 million, an increase of $3 million compared to the previous quarter. These increases were primarily due to increased drilling activity in North America, Latin America, North Sea, and Russia.

Geographic Regions

On a geographical basis,, Halliburton's revenue from North America surged 24% on a sequential basis to $2.8 billion, a 24%, driven by increased utilization and pricing throughout the United States land sector, particularly in pressure pumping and well construction product service lines as well as higher completion tool sales in the Gulf of Mexico. The Company's International revenue in Q2 2017 was $2.2 billion, representing a 7% gain sequentially, resulting primarily from higher drilling activity in Latin America, increased well completion, and drilling services in Europe/Africa/CIS, and increased fluid activity in the Eastern Hemisphere.

Halliburton's revenue from Latin America rose 10% in Q2 2017 to $508 million, driven by increased drilling activity in Mexico, Venezuela, and Colombia, as well as higher stimulation activity in Argentina. The Company's revenue from Europe/Africa/CIS was $679 million in the reported quarter, reflecting a 12% gain on a q-o-q basis, primarily due to a seasonal rebound in the North Sea and Russia resulting in higher drilling, well completions and pipeline, and process service activity.

Halliburton's revenue from Middle East/Asia revenue grew 2% to $1.0 billion in Q2 2017, primarily resulting from increased fluid services in Asia/Pacific and higher well wire-line and well completion activity in the Middle-East.

Cash Matters

Halliburton's cash flow from operations during Q2 2017 was approximately $350 million, and the Company ended the reported quarter with approximately $2.1 billion in cash and equivalents. These results were largely driven by an improvement in Company's days' sales outstanding.

Stock Performance

On Friday, July 28, 2017, the stock closed the trading session at $42.93, slightly dropping 0.37% from its previous closing price of $43.09. A total volume of 8.86 million shares have exchanged hands. Halliburton's stock price advanced 2.19% in the last one month and 0.37% in the previous twelve months. The stock has a dividend yield of 1.68%. The stock currently has a market cap of $37.40 billion.

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