Halliburton sees q3 rev falling in low single digits vs. q2 - conf call

Ceo says 75% completed on $1 billion cost reductions program, expect remaining part to be completed by q3 end.ceo says anticipate mid-teens decline in international customer activity and spending for fy.ceo says expect modest uptick in completions activity in q3.ceo says fy outlook for n. america activity remains unchanged.ceo says fy outlook for n. america activity remains unchanged at a 50% decline in customer spending from 2019 levels.ceo sees international business continuing to be a more meaningful contributor to co going forward - conf. call.ceo says believe north america services market, though smaller, will be more profitable to co.ceo says believe north america production will remain structurally lower in the foreseable future.ceo expcets to see more disciplined market with stronger operators and service cos - conf call.ceo says reducing real estate footprint by over 100 facilities.cfo says anticipate additional cash cost of about $60 million in q3 due to restructuring actions.cfo says expect q3 and fy tax rate to be about 24%.cfo says expect full year fcf to be over $1 billion.sees q3 revenue to decline in low single mid-digits sequentially.cfo says for q3, expect overall revenue to fall low single digits versus q2, with lower average rig activity across most regions hitting d&e unit.cfo says for q3, expect modest completions improvement to drive c&p unit revenue flat to slightly up versus q2.
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