Oilfield Services Company Halliburton’s Quarterly Revenue Growth Fell Short of Market Forecasts
American oilfield services company Halliburton Co. in 2023, it increased its net profit from 1.7 times, to $2.64 billion, its annual revenue increased by 13%, to $23 billion.
In the fourth quarter of 2023, the company increased net profit by 1% and revenue by 3%.
The company’s net profit in October-December amounted to $661 million versus $656 million a year earlier.
Earnings per share rose to $0.74 from $0.72 a year earlier.
Earnings excluding one-time factors were $0.86 per share, exceeding the average forecast of analysts surveyed by FactSet of $0.8 per share.
Halliburton’s quarterly revenue increased to $5.74 billion from $5.58 billion a year earlier, with the market forecast at $5.78 billion.
Revenue in the segment of equipment for wells and their services (Completion and Production) increased in the fourth quarter by 4%, to $3.32 billion, in the segment of assessment of reserves and well drilling (Drilling and Evaluation) – by 1%, to $2.42 billion .
The company’s revenue from operations in North America in October-December decreased by 7%, to $2.42 billion.
The company’s board of directors approved an increase in quarterly dividends to $0.17 per share from $0.16 per share.
Over the past 12 months, Halliburton’s capitalization has decreased by 13.6%.
