Halliburton Increased Quarterly Net Profit by a Third
In the third quarter of 2023, the American oilfield services company Halliburton Co. increased net profit by a third, revenue – by 8%, and profit was slightly better than market expectations, and revenue – slightly worse.
The company’s net income in July-September was $716 million, or $0.79 per share, compared to $544 million, or $0.6 per share, in the same period the previous year.
Halliburton’s quarterly revenue rose to $5.8 billion from $5.36 billion a year earlier.
Experts surveyed by FactSet on average expected the company’s net income to be $0.77 per share on revenue of $5.85 billion.
Revenue in the segment of equipment for wells and their services (Completion and Production) increased in the third quarter by 11%, to $3.49 billion, in the segment of assessment of reserves and well drilling (Drilling and Evaluation) – by 4%, to $2.32 billion .
The company’s revenue from operations in North America in July-September decreased by 1%, to $2.6 billion, while income from international operations increased by 17%, to $3.2 billion.
Since the beginning of 2023, Halliburton’s capitalization has grown by 5.8%, to $37.8 billion.
