Halliburton Company exceeded analyst expectations for the fourth quarter of 2024, driven by robust international oilfield services activity. While North America experienced a decline in fracking and completion services, the company's global operations, particularly in the North Sea, West Africa, and Middle East, compensated for this weakness.
Halliburton Company, listed on the New York Stock Exchange under the ticker symbol HAL, recorded a net income slightly exceeding analyst projections. This positive performance was primarily driven by its international oilfield services segment, which effectively compensated for the weaker U.S. fracking and completion activities. Halliburton announced a net income of $615 million, or $0.70 per diluted share, for the fourth quarter of 2024.
This represents a notable increase from the $571 million, or $0.65 per share, reported for the third quarter of 2024. Importantly, the Q4 earnings per share surpassed the analyst consensus estimate of $0.69. The company's total revenue for the fourth quarter of 2024 reached $5.6 billion, slightly lower than the $5.7 billion recorded in the third quarter. However, for the full year 2024, revenues remained stable compared to 2023, closing at $22.9 billion. A closer look at the regional performance reveals that North America experienced a 7% sequential decline in revenue during the fourth quarter, reaching $2.2 billion. Halliburton, a prominent provider of fracking services in the U.S., attributed this decrease to reduced stimulation activity, lower fluid services in U.S. land and Canada, and decreased wireline activity onshore in the U.S. Conversely, international revenue witnessed a 3% sequential surge to $3.4 billion for the fourth quarter of 2024. This growth was fueled by robust activity in the North Sea, West Africa, and Middle East, effectively offsetting weaker performance in Latin America, particularly Mexico. The company also noted a decline in pressure pumping services in Argentina. Looking ahead to 2025, Halliburton anticipates a softening of activity in its North American market compared to the end of 2024. Jeff Miller, the company's chairman, president, and CEO, expressed confidence in the long-term outlook, stating, 'While we expect 2025 to be sequentially softer in North America, we begin the second half of this decade in a great position, with a transformed balance sheet, leading returns, and strong free cash flow.” He further highlighted the company's strong performance in 2024, noting, 'We generated over $2.6 billion dollars of free cash flow, and returned over $1.6 billion dollars of cash to our shareholders.
HALIBURTON OILFIELD SERVICES EARNINGS INTERNATIONAL GROWTH NORTH AMERICA FRACKING COMPLETION
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More to Holywood Co Down than a quick drink before Bangor, cllr saysComment made as North Down bar gets entertainment licence at Ards North Down Council
Read more »
Brisbane International: Aryna Sabalenka beats Renata Zarazua in second roundWorld number one Aryna Sabalenka comfortably beats Renata Zarazua to start her Brisbane International campaign.
Read more »
Ukrainian Drones Wipe Out North Korean Troops in KurskChilling POV footage shows Ukrainian drones attacking North Korean soldiers in an open field. Ukraine's Special Operation Forces claim 77 North Korean troops were killed and 40 injured in recent battles. President Zelensky reports over 3,000 North Korean casualties in the Kursk region, linking it to growing Russia-North Korea cooperation.
Read more »
North Korean Soldiers Allegedly Committing Suicide to Avoid Capture in UkraineUS sources claim North Korean soldiers deployed to Ukraine by Russia are taking their own lives rather than surrendering to Ukrainian forces. The White House National Security Council and South Korea's National Intelligence Service confirmed reports of North Korean soldier suicides, citing fear of reprisal against their families in North Korea. Ukrainian President Volodymyr Zelensky alleged that over 3,000 North Korean soldiers had died or been injured in Russia's Kursk region.
Read more »
UFC Fighter's Pay Slip Exposes the Reality of Fighter EarningsA UFC fighter's pay slip reveals the low earnings fighters receive despite the risks and sacrifices they make.
Read more »
Netflix Fireplace Video Beats Squid Game to Top Spot on Boxing DayA seemingly simple video of a crackling fireplace has become Netflix's biggest Christmas hit in the UK, surpassing even the new season of Squid Game in popularity on Boxing Day.
Read more »