Halliburton shares dip as income misses estimates

HOUSTON – Halliburton Firm (NYSE:HAL) reported fourth quarter earnings that met expectations, however income fell in need of analyst estimates, sending shares down 1.79% in early buying and selling, Wednesday.

The oilfield companies big posted adjusted earnings per share of $0.70 for the quarter, according to Wall Avenue forecasts. Nevertheless, income got here in at $5.61 billion, lacking the consensus estimate of $5.64 billion.

Halliburton’s whole income declined 2% in comparison with the earlier quarter and a couple of.2% YoY. The corporate attributed the sequential lower primarily to decrease stimulation exercise in North America and decreased strain pumping companies in Latin America.

“I’m happy with our efficiency in 2024. We generated over $2.6 billion {dollars} of free money circulate, and returned over $1.6 billion {dollars} of money to our shareholders,” commented Jeff Miller, Chairman, President and CEO.

Trying forward, Miller famous that whereas 2025 is predicted to be “sequentially softer” in North America, he stays optimistic about Halliburton’s long-term outlook.

The corporate reported working earnings of $932 million for the fourth quarter, up from $871 million within the third quarter. North America income fell 7% sequentially to $2.2 billion, whereas worldwide income rose 3% to $3.4 billion.

Halliburton repurchased roughly $309 million of its frequent inventory throughout the quarter. For the complete yr 2024, the corporate returned 60% of free money circulate to shareholders by way of dividends and share buybacks.

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