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Halliburton financials hit by softer markets in Americas
//business-finance.news-articles.net/content/202 .. inancials-hit-by-softer-markets-in-americas.html
Published in Business and Finance on Thursday, January 23rd 2025 at 2:01 GMT by Upstream🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
New York-listed Halliburton reported a fall in profit for both the 2024 fourth quarter and full year — 7.5% and 5.6% respectively — due to softer market conditions in North America and Latin America..
The article from Upstream Online discusses Halliburton's financial performance, highlighting a significant impact from softer markets in the Americas. Halliburton, a major oilfield services company, reported a decrease in its North American revenue by 16% to $2.9 billion in the third quarter, primarily due to reduced drilling activity in the US onshore market. This downturn was attributed to lower natural gas prices and a cautious approach by exploration and production companies. Despite this, Halliburton's international operations showed resilience with a 12% revenue increase to $3.2 billion, driven by strong demand in the Middle East/Asia, Europe/Africa, and Latin America. The company also managed to improve its operating income and free cash flow, although overall profits were down. CEO Jeff Miller expressed optimism about future growth, particularly in international markets, and emphasized the company's strategic focus on operational efficiency and technology deployment to navigate through the challenging market conditions.
Read the Full Upstream Article at:
[ https://www.upstreamonline.com/finance/halliburton-financials-hit-by-softer-markets-in-americas/2-1-1768320 ]
Read the Full Upstream Article at:
[ https://www.upstreamonline.com/finance/halliburton-financials-hit-by-softer-markets-in-americas/2-1-1768320 ]
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