- Net income of $0.68 per diluted share.
- Adjusted net income per diluted share(1) of $0.76.
- Revenue of $5.8 billion and operating margin of 17%.
- Cash flow from operations of $487 million and free cash flow(2) of $206 million.
- Repurchases of approximately $250 million of common stock.
Halliburton Company has announced net income of $606 million, or $0.68 per diluted share, for the first quarter of 2024. This compares to net income for the first quarter of 2023 of $651 million, or $0.72 per diluted share. Adjusted net income(3) in the first quarter of 2024, was $679 million, or $0.76 per diluted share. Halliburton's total revenue for the first quarter of 2024 was $5.8 billion, a 2% increase when compared to the first quarter of 2023. Operating income was $987 million in the first quarter of 2024, flat when compared to the first quarter of 2023.
'Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth,' commented Jeff Miller, Chairman, President and CEO.
'Our customers' multi-year activity plans across markets and asset types confirms my confidence in the strength and duration of this upcycle.
'Halliburton demonstrated its commitment to shareholder returns in the first quarter and repurchased $250 million of common stock - a solid start to the year and a good benchmark for our expectations going forward,' concluded Miller.
Q1 2024 Earnings Release - view the complete report (pdf)
Source: Halliburton
