Halliburton Co., a leading oil-services company, announced its fourth-quarter results on Tuesday, with the company’s shares rising 2.1% in pre-market trading.
Financial Highlights
- Net income for the quarter was $661 million, or 74 cents per share, compared to $656 million, or 72 cents per share, in the same period last year.
- On an adjusted basis, excluding losses in Argentina primarily due to currency devaluation, Halliburton earned 86 cents per share.
- Analysts surveyed by FactSet were expecting earnings of 93 cents per share, falling short of expectations.
- Fourth-quarter revenue was $5.74 billion, showing a slight increase from $5.58 billion in the same period last year.
- However, revenue fell below the FactSet consensus of $6.41 billion.
- North America revenue was $2.4 billion, down from $2.6 billion in the same period last year.
- International revenue saw a significant increase to $3.3 billion, up from $2.97 billion in the prior year’s quarter.
Dividend Announcement
Halliburton also announced an increase in its first-quarter dividend by 1 cent per share, bringing it to a total of 17 cents per share.
Positive Outlook for Oilfield Services
Chief Executive Jeff Miller expressed his excitement for the future of Halliburton, stating that the outlook for oilfield services demand remains strong. He expects the company to deepen and strengthen its value proposition while generating significant free cash flow.
Stock Performance
Over the past 52 weeks, Halliburton shares have fallen 13.6%, contrasting with the S&P 500 index’s gain of 20.7%.
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