Halliburton posted adjusted income of US$656mil (RM2.8bil), or 72 US cents (RM3.07) per share, for the three months ended Dec 31, topping the 67 US cents (RM2.86) per share estimate compiled by Refinitiv. — Reuters
HOUSTON: US oilfield services firm Halliburton Co has topped Wall Street profit estimates for its fourth quarter and says its shale oil-well fracking equipment remains fully booked with oil prices driving increased drilling.
The largest provider of hydraulic fracking services used to complete shale oil and gas wells maxed out on its North American fracking equipment and crews.
The business last year was in a standoff with oil producers, not adding new equipment until customers agreed to pay higher fees.
Halliburton executives said they expect North America customer spending to grow by at least 15% this year, but warned its oil-well completions equipment remains fully contracted.
Pricing for its services has recovered, company executives said during a conference call, with operating income margins in its Completions and Productions division hitting 20.7%, the highest level since 2012.
It posted adjusted income of US$656mil (RM2.8bil), or 72 US cents (RM3.07) per share, for the three months ended Dec 31, topping the 67 US cents (RM2.86) per share estimate compiled by Refinitiv.
Fourth-quarter revenue was US$5.58bil (RM23.8bil), slightly exceeding Wall Street’s US$5.57bil (RM23.77bil) estimate.
For the full-year 2022, international revenue grew by 20% and North America revenue grew 51% compared with last year.
Halliburton also raised its first-quarter dividend by 33% to 16 US cents (RM0.68) per share. Wall Street analysts said the results were positive, pointing to strong margins and focus on shareholder returns.
Revenue in Halliburton’s North American division declined by 1% sequentially during the fourth quarter to US$2.6bil (RM11.1bil), driven primarily by weather-related disruptions in simulation and artificial lift.
Latin America revenue grew 12%, the largest jump across its geographical business units, to US$945mil (RM4.04bil).
The rise was driven by more pressure pumping in Argentina, activity in Mexico and well construction services in Colombia. — Reuters
