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2018-01-24 07:20:00

HALLIBURTON NET LOSS $824 MLN

HALLIBURTON NET LOSS $824 MLN

HALLIBURTONHalliburton Company (NYSE:HAL) announced a loss from continuing operations of $805 million, or $0.92 per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United States tax reform and Venezuela receivables, was $462 million, or $0.53 per diluted share. This compares to income from continuing operations for the third quarter of 2017 of $365 million, or $0.42 per diluted share. Halliburton's total revenue in the fourth quarter of 2017 was $5.9 billion, a 9% increase from revenue of $5.4 billion in the third quarter of 2017. Reported operating income was $379 million during the fourth quarter of 2017, compared to operating income of $634 million in the third quarter of 2017. Excluding special items, adjusted operating income for the fourth quarter of 2017 was $764 million.

Total revenue for the full year of 2017 was $20.6 billion, an increase of $4.7 billion, or 30%, from 2016. Reported operating income for 2017 was $1.4 billion, compared to a reported operating loss of $6.8 billion for 2016. Excluding special items, adjusted operating income for 2017 was $2.0 billion, a three-fold improvement from adjusted operating income of $690 million for 2016.

"Outstanding execution resulted in an excellent fourth quarter and we are well positioned to take advantage of opportunities presented by a growing North America market and improving international outlook. I continue to believe we are on the path to normalized margins in North America in 2018," remarked Jeff Miller, President and CEO.

"2017 was a dynamic year for the oil and gas sector that marked another step on the road to recovery for our industry. I am pleased with the way our team executed on our value proposition, maintained strong service quality, and generated superior results and industry leading returns.

"Our Drilling and Evaluation division delivered an impressive performance over the second half of 2017, achieving nearly 50% incrementals in the fourth quarter. These results demonstrate the strength and diversity of our portfolio.

"Our Completion and Production division revenue grew 8% sequentially, outperforming the change in average United States land rig count. The North America completions market is tight, and demand for our completions equipment and our service quality remains strong.

"I am optimistic about what I see in 2018. Commodity prices support increasing activity in North America and I am encouraged by the increase in tender activity and the positive discussions we are having with our international customers," concluded Miller.

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Earlier:

 MAERSK-AKER-HALLIBURTON ALLIANCE
2017, November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

 

 HALLIBURTON NET INCOME $365 MLN
2017, October, 24, 22:27:00

HALLIBURTON NET INCOME $365 MLN

Halliburton Company (NYSE:HAL) announced income from continuing operations of $365 million, or $0.42 per diluted share, for the third quarter of 2017.

 

 HALLIBURTON NET INCOME $28 MLN
2017, July, 25, 22:16:00

HALLIBURTON NET INCOME $28 MLN

Halliburton Company (NYSE:HAL) announced income from continuing operations of $28 million, or $0.03 per diluted share, for the second quarter of 2017.

 

 HALLIBURTON NET LOSS $32 MLN
2017, April, 25, 21:58:00

HALLIBURTON NET LOSS $32 MLN

Halliburton Company (NYSE:HAL) announced a loss from continuing operations of $32 million, or $0.04 per diluted share, for the first quarter of 2017.

 

 HALLIBURTON NET LOSS $149 MLN
2017, January, 24, 21:45:00

HALLIBURTON NET LOSS $149 MLN

Halliburton Company (NYSE:HAL) announced a loss from continuing operations of $149 million, or $0.17 per diluted share, for the fourth quarter of 2016.

 

 HALLIBURTON NET LOSS $5.6 BLN
2016, October, 25, 18:35:00

HALLIBURTON NET LOSS $5.6 BLN

Total company revenue was flat at $3.8 billion, operating income was $128 million, and cash flow from operating activities for the third quarter was in excess of $1.0 billion. These results were driven primarily by increased utilization in North America, as well as effective global cost and working capital management.

 

 HALLIBURTON NET LOSS $3.21 BLN
2016, July, 26, 18:55:00

HALLIBURTON NET LOSS $3.21 BLN

“Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe,” said Dave Lesar, Chairman and CEO.

Tags: HALLIBURTON