HALLIBURTON ANNOUNCES THIRD QUARTER 2019 RESULTS

Halliburton Company (NYSE:HAL) announced net income of $295 million, or $0.34 per diluted share, for the third quarter of 2019.
This compares to reported net income for the second quarter of 2019 of $75 million, or $0.09 per diluted share, and adjusted net income for the second quarter of 2019 of $303 million, or $0.35 per diluted share, excluding impairments and other charges.

Operating income was $536 million during the third quarter of 2019, compared to reported operating income of $303 million and adjusted operating income of $550 million for the second quarter of 2019.

“Our organization executed effectively in the third quarter. We managed the market dynamics and delivered our financial results as per expectations,” commented Jeff Miller, Chairman, President and CEO.

“Total company revenue was $5.6 billion and operating income was $536 million, representing decreases of 6% and 3%, respectively, compared to revenue and adjusted operating income in the second quarter of 2019.

“International revenue, which was flat sequentially, was up 10% year to date and we remain confident that we will achieve high single-digit international growth for all of 2019. International growth continues across multiple regions, benefitting both our Drilling and Evaluation and Completion and Production divisions.


“Our North America revenue decreased 11% sequentially driven by customer activity declines and the execution of our new playbook. I am proud of how our team performed in this challenging market. We are successfully implementing our new strategy and are focused on taking the right actions to deliver returns and cash flow for our shareholders.
“As the international recovery continues and the North American market matures, our strategy is allowing us to thrive in this dynamic environment, generate strong free cash flow and produce industry-leading returns,” concluded Miller.

Source / More : Halliburton

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