Halliburton Increased Its Net Profit More Than 5 Times in the Second Quarter
American oilfield services company Halliburton Co. increased net profit in the 2nd quarter of 2023 by more than 5 times. This is stated in the company’s financial statements.
The company’s net profit reached USD 610 million. Per share, the figure is 68 cents compared to 12 cents for the same period in 2022.
Adjusted earnings increased more than 1.5 times to 77 cents per share. Revenue increased by 14% to $5.798 billion. Well equipment and services revenues increased 19% to $3.476 billion, while reserve appraisal and well drilling revenues increased 3% to $2.322 billion.
Experts estimated adjusted earnings of 75 cents per share on revenue of $5.85 billion.
Revenue from operations in North America decreased by 2% (to $2.7 billion), international operations increased by 7% (to $3.1 billion). In Latin America, operating income grew by 9%, in the Middle East and Asia – by 6%, in Europe and Africa – by 5%.
Over the past year, the company’s market value has added 30.3% to $33.7 billion, while the Standard & Poor’s 500 stock index has gained 15.7%.
