HAL - Is Halliburton poised for robust topline growth in Q2?

• Halliburton ( NYSE: HAL ) is scheduled to announce Q2 earnings results on Tuesday, July 19th, before market open.
• The consensus EPS Estimate is $0.45 and the consensus Revenue Estimate is $4.71B (+27.3% Y/Y).
• The oil field services firm's Q1 adjusted EPS topped Wall Street estimates by a penny, but expectations ahead of the report were running high, as shares hit a 52-week high $42.25 on Monday.
• "First quarter revenue growth in all our international regions together with North America demonstrates that this multi-year upcycle is well underway," CEO Jeff Miller said.
• Halliburton also warned of "tightness across the entire oil and gas value chain in North America", but positive movement in commodity prices and strengthening customer demand against an almost sold-out equipment market will drive margin expansion in Completion and Production division.
• The company expects strong international business to increase throughout the remainder of the year and expects to deliver profitable growth, strong free cash flow and industry-leading returns.
• Bank of America last week cut its price target on Halliburton to $34 from $47, as part of a ratings reshuffle prompted by concerns that a recession and related downward pressure on oil prices could pose downside risk to U.S. drilling and completions activity.
• Still, BofA believes the international market is set for accelerated growth into year-end 2022 and 2023, even under a base case for a mild U.S. recession.
• Halliburton and Schlumberger should be favored in Q2 and beyond in the oilfield service sector, Laurentian Research wrote in an SA analysis.
• More recently, Daniel Jones wrote in a bullish analysis that although prices have sunk in the past month, shares of Halliburton look to be attractively priced and a recovery is in full swing.
• Shares are down -13.40% in the past month but remain up +21.43% YTD. Here is a look at its YTD price return performance versus peers:

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