$HAL - Setting up stage for 2013.
Halliburton's overall financial performance has been incredibly strong. Revenues for the firm increased 38% in 2011 in contrast with 2010 and by an additional 30% in the first quarter of the current year compared with the same period in the previous year. The firm recorded an adjusted EBITDA of $6.9 billion at the end of March this year, up from $4.8 billion during the previous year.
Due to the recent recovery in the business, profitability and cash flow in 2012 will improve. Halliburton is profiting from management's focus on improving operating efficiency, together with working capital management.
In the most recent guidance, the management announced a capital expenditure of between $3.5 and $4 billion for 2012. Halliburton has moderate debt levels, and the total long term debt of the company stands just below $5 billion. Halliburton has strong cash flows. The firm generated cash flows from operations of over $3 billion at the end of the last year.
In the most recent earnings report, Halliburton reported cash flow from operations of $1.13 billion and capital expenditures of $1.6 billion. At the end of the second quarter, Halliburton had cash equivalents of $2.1 billion. In addition, Halliburton's liquidity is incredibly strong. The key elements of its liquidity are the cash reserves of $2.1 billion and $100 million of conservatively invested marketable securities.
Additionally, the company also has a revolving credit facility worth $2 billion, which will expire in 2016. None of the long term debt for Halliburton is maturing before 2016, and strong cash flows indicate the firm will be able to meet its capital expenditures.
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