- Net income of $0.74 per diluted share.
- Adjusted net income per diluted share1 of $0.86, excluding losses in Argentina primarily due to currency devaluation.
- Revenue of $5.7 billion and operating margin of 18%.
- Cash flow from operations of $1.4 billion and free cash flow2 of $1.1 billion.
- 2024 first quarter dividend increases by $0.01 per share to $0.17 per share.
Halliburton Company has announced net income of $661 million, or $0.74 per diluted share, for the fourth quarter of 2023. This compares to net income for the third quarter of 2023 of $716 million, or $0.79 per diluted share. Adjusted net income3 for the fourth quarter of 2023, excluding losses in Argentina primarily due to the currency devaluation, was $769 million, or $0.86 per diluted share. Halliburton's total revenue for the fourth quarter of 2023 was $5.7 billion, flat when compared to the third quarter of 2023. Operating income was $1.1 billion in the fourth quarter of 2023, a 2% increase when compared to the third quarter of 2023.
Total revenue for the full year of 2023 was $23.0 billion, an increase of $2.7 billion, or 13% from 2022. Operating income for 2023 was $4.1 billion, compared to 2022 operating income of $2.7 billion and adjusted operating income4 of $3.1 billion, excluding impairments and other charges related to our exit from Russia.
'2023 was a great year for Halliburton, both of our divisions achieved their highest operating margins in over a decade,' commented Jeff Miller, Chairman, President and CEO.
'We generated about $2.3 billion of free cash flow during the year, retired approximately $300 million of debt, and returned $1.4 billion of cash to shareholders through stock repurchases and dividends, which represents over 60% of our free cash flow.
'I am excited about 2024. The outlook for oilfield services demand remains strong. I expect we will deepen and strengthen our value proposition, and generate significant free cash flow,' concluded Miller.
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Source: Halliburton
