Halliburton (NYSE: HAL) reported Q2 EPS of $0.05, $0.16 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.31 billion.

• Reported net loss of $1.91 per diluted share
• Adjusted net income of $0.05 per diluted share, excluding impairments and other charges
• Cash flow from operating activities of $598 million and free cash flow of $456 million

“Halliburton’s second quarter performance in a tough market shows we can execute quickly and aggressively to deliver solid financial results and free cash flow despite a severe drop in global activity. Our results demonstrate a significant and sustainable reset to the power of our business to generate positive earnings and free cash flow,” commented Jeff Miller, Chairman, President and CEO.

“Total company revenue was $3.2 billion and adjusted operating income was $236 million. Despite the market headwinds, the margin performance of our Completion and Production and Drilling and Evaluation divisions and the $456 million of positive free cash flow generated this quarter show the speed and effectiveness of our aggressive cost actions.

“We have an excellent international business, an efficient North America service delivery improvement strategy, a disciplined capital allocation approach, and a committed and competitive team. Our continued deployment of leading digital technologies will drive efficiency and cost reductions for our customers and Halliburton.

“Halliburton is charting a fundamentally different course. The strategic actions we are taking will further boost our earnings power and ability to generate free cash flow as we power into and win the eventual recovery,” concluded Miller.

For earnings history and earnings-related data on Halliburton (HAL) click here.