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HALLIBURTON Halliburton Announces Second Quarter 2021 Results July 20 , 2021 • Net income of $ 0.26 per diluted share • Cash flow from operating activities of $ 409 million and free cash flow of $ 265 million HOUSTON -- ( BUSINESS WIRE ) -- Jul . 20 , 2021-- Halliburton Company ( NYSE : HAL ) announced today net income of $ 227 million , or $ 0.26 per diluted share , for the second quarter of 2021. This compares to net income for the first quarter of 2021 of $ 170 million , or $ 0.19 per diluted share . Halliburton's total revenue for the second quarter of 2021 was $ 3.7 billion , compared to revenue of $ 3.5 billion in the first quarter of 2021. Operating income was $ 434 million in the second quarter of 2021 compared to operating income of $ 370 million in the first quarter of 2021 . " Our second quarter performance demonstrates that our strategy is working well and Halliburton's strategic priorities are driving value in this transition year . Total company revenue increased 7 % sequentially , as both North America and international markets continued to improve , and operating income grew 17 % with solid margin performance in both divisions , " commented Jeff Miller , Chairman , President and CEO . " Halliburton's Completion and Production division margin reached three - year highs , while our Drilling and Evaluation division margin outperformed expectations , setting both divisions up for robust margin growth this year . " Our solid free cash flow generation further demonstrates the effectiveness of our strategy to strengthen the cash flow profile of our business . " The positive activity momentum we see in North America and international markets today , combined with our expectations for future customer demand , gives us conviction for an unfolding multi - year upcycle . " Halliburton's value proposition , unique exposure to both international and North America markets , and differentiated technologies across an integrated services portfolio solidify our sustainable competitive advantage , and deliver strong free cash flow and industry - leading returns , " concluded Miller . Operating Segments Completion and Production Completion and Production revenue in the second quarter of 2021 was $ 2 billion , an increase of $ 178 million , or 10 % , when compared to the first quarter of 2021 , while operating income was $ 317 million , an increase of $ 65 million , or 26 % . These results were driven by increased activity across multiple product service lines in North America land , higher cementing activity in the Eastern Hemisphere and Latin America , increased completion tools sales in the Middle East , the North Sea , and Latin America , as well as higher well intervention services in Saudi Arabia and Algeria . Partially offsetting these improvements was lower stimulation activity in Latin America . Drilling and Evaluation Drilling and Evaluation revenue in the second quarter of 2021 was $ 1.7 billion , an increase of $ 78 million , or 5 % , when compared to the first quarter of 2021 , while operating income was $ 175 million , an increase of $ 4 million , or 2 % . These results were due to improved drilling - related services and wireline activity across all regions , along with increased testing services in the Eastern Hemisphere . Partially offsetting these increases were reduced software sales globally . Geographic Regions North America North America revenue in the second quarter of 2021 was $ 1.6 billion , a 12 % increase when compared to the first quarter of 2021. This increase was primarily driven by higher pressure pumping services , drilling - related services , and wireline activity in North America land , as well as higher well construction activity in the Gulf of Mexico . Partially offsetting these increases were reduced software sales across the region . International International revenue in the second quarter of 2021 was $ 2.1 billion , a 4 % increase when compared to the first quarter of 2021. This improvement was primarily driven by higher well construction activity , completion tools sales , and well intervention services across all regions . Partially offsetting these increases were lower software sales across all regions and decreased stimulation activity in Latin America . Latin America revenue in the second quarter of 2021 was $ 534 million , flat sequentially . Increased activity in multiple product service lines in Mexico , higher fluid services in Brazil , as well as additional completion tools sales in Guyana , were offset by reduced stimulation activity in Argentina , Mexico , and Brazil , lower software sales across the region , and decreased project management activity in Mexico and Ecuador . Europe / Africa / CIS revenue in the second quarter of 2021 was $ 679 million , a 7 % increase sequentially , resulting from increased activity across multiple product service lines in Russia , Norway , Algeria , and Ghana . These increases were partially offset by lower software sales across the region and lower activity in Nigeria . Middle East / Asia revenue in the second quarter of 2021 was $ 925 million , a 5 % increase sequentially , resulting from improved activity in multiple product service lines in Saudi Arabia , higher well intervention services across the region , increased drilling - related services in Oman , higher completion tools sales in Kuwait , higher well construction activity in Australia , and increased pipeline services in China . These improvements were partially offset by lower software sales across the region , lower project management activity in India , and lower activity in Bangladesh . Selective Technology & Highlights