2023-01-24 12:45:00

Halliburton Clocks 31% Revenue Growth In Q4 Backed By Strong Segmental Performance; Boosts Quarterly Divi

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By Anusuya Lahiri
  • Halliburton CompanyHAL, a provider of products and services to the energy industry, reported fourth-quarter FY22 revenue growth of 30.5% year-over-year to $5.582 billion, marginallybeating the consensus of $5.580 billion.
  • Adjusted EPS of $0.72 beat the consensus of $0.67.
  • Operating income increased to $976 million (+77.5% Y/Y), and the margin expanded by 463 bps to 17.5%.
  • Completion and Production revenue increased 35.1% Y/Y to $3.18 billion, and the corresponding operating income increased by 89.9% Y/Y to $659 million.
  • Drilling and Evaluation revenue increased by 24.9% Y/Y to $2.40 billion, and operating income increased by 43.9% Y/Y to $387 million.
  • Halliburton's cash flows provided by operating activities were $1.16 billion. The company held cash and equivalents of $2.35 billion.
  • Q1 Dividend:Halliburton boosted the quarterly dividend by 33% to $0.16 per share, payable on Mar. 29, 2023, to shareholders of record on Mar. 1, 2023. Halliburton paid aQ4 dividend of $0.12per share in December 2022.
  • "Halliburton's execution in 2022 demonstrated the earnings power of our strategy, and I expect this earnings power to strengthen in 2023 and beyond. Both operating divisions delivered strong margins in the international and North America markets," commented Jeff Miller, Chair and CEO.
  • Price Action:HAL shares are trading higher by 0.59% at $40.81 in the premarket on the last check Tuesday.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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