Halliburton Company (NYSE:HAL) shares were sharply higher Monday, on the release of second-quarter financial figures.
The Houston-based corporation announced today net income of $75 million, or $0.09 per diluted share, for the second quarter of 2019. This compares to net income for the first quarter of 2019 of $152 million, or $0.17 per diluted share.
Adjusted net income for the second quarter of 2019, excluding impairments and other charges, was $303 million, or $0.35 per diluted share.
This compares to adjusted net income for the first quarter of 2019 of $201 million, or $0.23 per diluted share. Reported operating income was $303 million during the second quarter of 2019, compared to reported operating income of $365 million in the first quarter of 2019.
Excluding impairments and other charges, adjusted operating income was $550 million for the second quarter of 2019 compared to $426 million for the first quarter of 2019.
Completion and Production revenue in the second quarter of 2019 was $3.8 billion, an increase of $143 million, or 4%, when compared to the first quarter of 2019, while operating income was $470 million, an increase of $102 million, or 28%.
These improvements were primarily driven by increased cementing activity and completion tool sales internationally, higher artificial lift activity in North America, increased stimulation activity in North America and Middle East/Asia, and increased pipeline services in Europe/Africa/CIS.
Said CEO Jeff Miller, "We continue to build on the growth momentum internationally and successfully manage the market dynamics in North America."
Shares popped $1.42, or 6.5%, to $23.17
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