Halliburton’s segment-wise performance
From 3Q15 to 3Q16, Halliburton’s revenues from North America fell ~33%. Its revenue from Middle East/Asia was more resilient, declining 24% year-over-year in 3Q16.
Does Halliburton expect growth to happen soon?
David Lesar, Halliburton’s chair and CEO, commented in the 3Q16 conference call, “we continue to believe meaningful activity increases from our customers will not start until we see sustainable commodity prices above $50 per barrel. And while the international markets will take a little more time to rebound, we are maintaining our integrated global services footprint, managing costs and continuing to fight for market share. We expect to see the bottom for activity in this market to occur in the first half of 2017.”
Next, we’ll discuss Halliburton’s operating income from these segments and what affects its net income.