
Energy industry services provider Halliburton Co. has reported a net income of $615 million for the fourth quarter of 2024, compared to $571 million for the third quarter of the year. However, it is below the $667 million reported for the corresponding quarter a year ago.
Halliburton’s total revenue for the fourth quarter of 2024 was $5.6 billion, compared to $5.7 billion for the third quarter of 2024. Operating income was $932 million for the fourth quarter of 2024, compared to $871 million for the third quarter of 2024, Halliburton said in a media release.
Total revenue for the full year was $22.9 billion, flat compared to 2023. Operating income for 2024 was $3.8 billion, compared to 2023 operating income of $4.1 billion. Net income attributable to Halliburton for the full year of 2024 landed at $2.5 billion, below the $2.64 billion reported for 2023.
“I am pleased with our performance in 2024. We generated over $2.6 billion of free cash flow and returned over $1.6 billion of cash to our shareholders”, Jeff Miller, Chairman, President and CEO of Halliburton, said. “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”.
Halliburton said its North American revenue was $2.2 billion for the fourth quarter, a 7 percent decrease sequentially. This decline was primarily driven by lower stimulation activity and decreased fluid services on U.S. land and Canada, along with lower wireline activity on U.S. land, it said.
The company also experienced a drop in Q4 revenue for its Latin America operations. The revenue of $953 million was 9 percent lower sequentially, primarily due to lower activity across multiple product lines in Mexico, decreased pressure pumping services, and lower wireline activity in Argentina, Halliburton said.
“I expect to execute our value proposition, deepen our technology portfolio, and drive value through our growth engines: drilling technology, unconventionals, well intervention, and artificial lift”, said Miller.
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