A part of Watch Media

EnergyWatchThursday2 February 2023

  • Search
  • Log in
  • Utilities
  • Oil & Gas
  • Renewables
  • Cleantech
  • Search
  • Log in
  • Latest
  • Search
  • Log in
  • Utilities
  • Oil & Gas
  • Renewables
  • Cleantech
  • Policy & Trading
  • Danish
25/01/2023at 07:47

Halliburton posts strong Q4 results, increases dividend

Despite topline growth of 31%, the oil services company’s share slides during early trading.
Photo: Hamad I Mohammed/Reuters/Ritzau Scanpix
BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

US oil services company Halliburton’s Q4 results exceeded analysts’ expectations with double-digit growth on nearly all items in the accounts.

Nevertheless, the share price is on a downward trajectory in early trading Tuesday.

Halliburton posted a 31% revenue increase to USD 5.58bn in the fourth quarter, entirely in line with analysts’ expectations, according to consensus estimates compiled by Bloomberg News.

The North American business saw highest revenue growth at 46% to USD USD 2.61bn against expectations of USD 2.69bn. Meanwhile, European, African and other territories slid by 10% from USD 730m to USD 657m.

Net income per diluted share came to USD 0.72 against analysts’ forecast of USD 0.67, though nearly twice that of last year’s result of USD 0.36.

Operating income shot by 77% to USD 976m in Q4 2022 against an expected USD 929.4m.

”Both operating divisions delivered strong margins in the international and North America markets,” states Chief Executive Officer Jeff Miller in a statement on the fourth quarter financials.

The drilling division generated USD 387m, an increase of 44%, against expectations of USD 361.2m. Meanwhile the Completion & Production division, which collects data from oil drillings and assists customers during production, saw a 90% increase in operating income to USD against analysts’ estimates of USD 629m.

As a result of the positive results, Halliburton has decided to increase dividends by 33% and launch a USD 250m stock repurchase program.

Nevertheless, Halliburton’s share price depreciates by 1.7% to USD 39.89 during early trading on the New York Stock Exchange.

Related articles:

  • Photo: CHRIS HELGREN/REUTERS / X00378

    Baker Hughes weakened by Russian activities in Q2

  • Photo: Steve Gonzales/AP/Ritzau Scanpix

    Halliburton benefits from oil market gains in Q2

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Foto: Horisont Energi
Cleantech

Equinor pulls out of hydrogen and CCS project

The Norwegian oil company and partner Vår Energi have decided to withdraw from the Barents Blue project, which Horisont Energi aims to continue with new partner.
  • Barents Blue awards contract for extended concept studies
  • Horisont Energi signs MoU on ammonia production with Lhyfe

For subscribers

Foto: René Schütze
Renewables

Orders halved in Europe's wind industry in 2022

Foto: Ørsted
Utilities

Ørsted CEO pleased with the 2022 result, but not the earnings mix

Foto: Ørsted / PR
Renewables

11 wind developers back common methodology for calculating carbon footprint

For subscribers

Foto: Aker Carbon Capture Pr
Cleantech

Aker Carbon Capture inks PtX deal in Finland

For subscribers

Foto: PR / Statkraft
Renewables

Automaker commissions Spanish solar wind farm

For subscribers

Further reading

Oil & Gas

Marathon Petroleum's Q4 earnings surpassed forecast

The US oil refinery operator nearly quadrupled earnings in the last quarter of 2022.
Foto: Michael Probst/AP/Ritzau Scanpix
Renewables

Global clean-energy investments match fossil fuel for first time

New study from BNEF shows that 2022’s global investments in greener energy forms reached parity for the first time with money underwriting fossil fuels – at roughly USD 1.1trn.
Foto: Michael M. Santiago
Oil & Gas

Chevron rewards shareholders by boosting dividends, buying back stock

The US oil and gas company is raking in money following Russia’s invasion of Ukraine and resulting surge in oil prices.

Latest news

  • Ørsted CEO pleased with the 2022 result, but not the earnings mix – 1 Feb
  • Equinor pulls out of hydrogen and CCS project – 1 Feb
  • Orders halved in Europe's wind industry in 2022 – 1 Feb
  • 11 wind developers back common methodology for calculating carbon footprint – 1 Feb
  • Automaker commissions Spanish solar wind farm – 1 Feb
  • Ørsted suffers Q4 loss while booking strong full-year profit – 1 Feb
  • Aker Carbon Capture inks PtX deal in Finland – 1 Feb
  • Marathon Petroleum's Q4 earnings surpassed forecast – 1 Feb
  • Glennmont Partners buys two Eolus wind farms in Sweden – 31 Jan
  • ExxonMobil planning large-scale hydrogen plant – 31 Jan
See all

Jobs

  • Energy Analyst

  • Senior Project Manager

  • Business Development Manager

  • Economist or political scientist with a flair for coordination and secretarial support

  • Regulatory Lawyer

  • Economist for transfer pricing

  • Engineer or mechanical engineer for the green transition

  • Senior Engineering Project Manager

  • Construction Project Manager for onshore wind turbines and solar farms

  • Business Oriented Senior Product Manager

  • Innovative Engineer to secure critical infrastructure

  • Installers for the electricity grid and the green transition

  • Director - Project Management (DK)

  • Senior Project Manager On Grid Development And Grid Connection

  • Electrical and Instrumentation Engineer (E&I) - New graduate or with few years of experience

  • Planner - Denmark

  • Team leader with focus on both operations and development

  • Technical Business Development Manager

  • Electrical Engineer specialised in PV systems

  • Financing Associate

  • Responsible for MR stations

  • Sustainability Lead on energy island Bornholm and energy island North Sea

  • Project Manager - AURA Installation

  • Manager for facilities and projects

  • Project Cost Estimator & Planner

See all jobs

Jobs

  • Energy Analyst

  • Senior Project Manager

  • Business Development Manager

  • Economist or political scientist with a flair for coordination and secretarial support

  • Regulatory Lawyer

  • Economist for transfer pricing

  • Engineer or mechanical engineer for the green transition

  • Senior Engineering Project Manager

  • Construction Project Manager for onshore wind turbines and solar farms

  • Business Oriented Senior Product Manager

  • Innovative Engineer to secure critical infrastructure

  • Installers for the electricity grid and the green transition

  • Director - Project Management (DK)

  • Senior Project Manager On Grid Development And Grid Connection

  • Electrical and Instrumentation Engineer (E&I) - New graduate or with few years of experience

  • Planner - Denmark

  • Team leader with focus on both operations and development

  • Technical Business Development Manager

  • Electrical Engineer specialised in PV systems

  • Financing Associate

  • Responsible for MR stations

  • Sustainability Lead on energy island Bornholm and energy island North Sea

  • Project Manager - AURA Installation

  • Manager for facilities and projects

  • Project Cost Estimator & Planner

See all jobs

Colophon

EnergyWatch
Search

Sections

  • Utilities
  • Oil & Gas
  • Renewables
  • Cleantech
  • Policy & Trading
  • Danish
  • Sitemap
  • RSS feeds

Editor

Maz Plechinger

mp@energiwatch.dk

Tel.: +45 3330 8323

Editor-in-chief

Anders Heering

Publisher

JP/Politiken Media Group Ltd

Advertising

annoncering@infowatch.dk

Tel.: +45 7077 7448

Advertising

Job Advertising

job@infowatch.dk

Tel.: +45 7077 7448

Jobs

Subscription

Try EnergyWatch or get an offer for a subscription meeting the exact needs of you or your company.

energywatch@infowatch.dk

Tel.: +45 7077 7448

Learn more about subscriptions here

Address

EnergyWatch

Rådhuspladsen 37

1785 Copenhagen K, Denmark

Tel.: +45 3330 8320

Guidelines

  • Privacy Policy

Copyright © EnergyWatch — All rights reserved

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
EnergyWatch

Google ChromeMozilla FirefoxMicrosoft Edge