Halliburton (NYSE: HAL) is expected to report Q2 earnings on July 22. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Halliburton's revenues will grow 0.4% and EPS will wither -10.0%.

The average estimate for revenue is $7.26 billion. On the bottom line, the average EPS estimate is $0.72.

Revenue details
 Last quarter, Halliburton notched revenue of $6.97 billion. GAAP reported sales were 1.5% higher than the prior-year quarter's $6.87 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.67. GAAP EPS were -$0.02 for Q1 compared to $0.68 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 14.0%, 630 basis points worse than the prior-year quarter. Operating margin was 12.9%, 640 basis points worse than the prior-year quarter. Net margin was -0.3%, 940 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $29.65 billion. The average EPS estimate is $3.16.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halliburton is outperform, with an average price target of $49.50.

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