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Halliburton(HAL) - 2020 Q4 - Earnings Call Transcript
2021-01-19 19:11
Financial Data and Key Metrics Changes - Total company revenue for Q4 2020 was $3.2 billion, a 9% sequential increase, with adjusted operating income of $350 million, up 27% sequentially [10][30] - Full-year revenue was $14.4 billion, outperforming a global rig count decline of 38% [8] - Free cash flow for the year exceeded $1.1 billion, demonstrating strong cash generation capabilities [9][37] Business Line Data and Key Metrics Changes - Completion and Production (C&P) division revenue increased 15% sequentially, with operating income up 33%, resulting in an operating margin improvement of 2% [10][32] - Drilling and Evaluation (D&E) division revenue grew 2%, with operating income increasing by 11% [11][33] Market Data and Key Metrics Changes - North America revenue increased 26% sequentially, driven by higher drilling and completions activity [11][34] - Latin America revenue grew 12%, primarily due to increased pressure pumping and wireline activity [34] - International revenue remained flat sequentially, with activity in Latin America improving for the second consecutive quarter [11][34] Company Strategy and Development Direction - The company is focused on profitable growth in its strong international franchise and is driving strategic changes in North America [11][12] - Halliburton is accelerating the deployment of digital technologies and driving capital efficiency through strategic choices [11][19] - The company aims to participate in advancing a sustainable energy future by reducing its carbon footprint and collaborating with customers to enhance efficiency [27][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in oil prices and activity levels, expecting a low double-digit increase in international activity year-on-year in the second half of 2021 [12][16] - The company anticipates that the worst is behind them and expects to see favorable market dynamics as oil demand recovers [12][13] Other Important Information - The company recognized approximately $450 million in pre-tax impairments and other charges related to real estate asset adjustments [30][31] - Capital expenditures for 2020 totaled approximately $730 million, with plans to keep CapEx relatively flat at $750 million for 2021 [37] Q&A Session Summary Question: Outlook for full year 2021 in North America and international recovery - Management is optimistic about North America, expecting steady momentum and a low double-digit increase in international activity in the second half of 2021 [41][44] Question: Margin outlook for C&P and D&E divisions - C&P margins are expected to remain in the mid-teens for 2021, with potential for improvement if pricing momentum is achieved [48][50] - D&E margins are anticipated to reach double digits by the end of 2021, driven by market recovery and technology investments [50] Question: Demand for emission reduction solutions and pricing - Management noted that while demand for emission reduction solutions is robust, pricing dynamics will evolve as the market recovers [56][57] Question: Free cash flow expectations for 2021 - Free cash flow is expected to more than double in 2021, driven by operating profit improvements and increased activity [61] Question: International pricing trends and competitive landscape - Management indicated that international pricing remains competitive, with a focus on profitable growth and capital efficiency [68][69]
Halliburton(HAL) - 2020 Q3 - Quarterly Report
2020-10-23 14:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission File Number 001-03492 (a Delaware corporation) 75-2677995 3000 North Sam Houston Parkway East Houston, Texas 77032 (Address of Principal Ex ...
Halliburton(HAL) - 2020 Q3 - Earnings Call Transcript
2020-10-19 15:19
Halliburton Company (NYSE:HAL) Q3 2020 Results Earnings Conference Call October 19, 2020 9:00 AM ET Company Participants Abu Zeya - Senior Director, Investor Relations Jeff Miller - Chairman, President and Chief Executive Officer Lance Loeffler - EVP and Chief Financial Officer Conference Call Participants Angeline Sedita - Goldman Sachs James West - Evercore ISI William Herbert - Simmons & Company Chase Mulvehill - Bank of America Merrill Lynch Sean Meakim - JP Morgan Scott Gruber - Citigroup Kurt Hallead ...
Halliburton(HAL) - 2020 Q2 - Quarterly Report
2020-07-24 14:57
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission File Number 001-03492 HALLIBURTON COMPANY (a Delaware corporation) 75-2677995 3000 North Sam Houston Parkway East Houston, Texas 77032 (Address ...
Halliburton(HAL) - 2020 Q2 - Earnings Call Transcript
2020-07-20 17:00
Halliburton Company (NYSE:HAL) Q2 2020 Earnings Conference Call July 20, 2020 9:00 AM ET Company Participants Jeff Miller - President, Chief Executive Officer Lance Loeffler - Executive Vice President, Chief Financial Officer Abu Zeya - Head of Investor Relations Conference Call Participants James West - Evercore ISI Angie Sedita - Goldman Sachs Bill Herbert - Piper Sandler Sean Meakim - JP Morgan David Anderson - Barclays Chase Mulvehill - Bank of America Scott Gruber - Citigroup Marc Bianchi - Cowen Kurt ...
Halliburton(HAL) - 2020 Q1 - Quarterly Report
2020-04-24 14:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission File Number 001-03492 HALLIBURTON COMPANY (a Delaware corporation) 75-2677995 3000 North Sam Houston Parkway East Houston, Texas 77032 (Address ...
Halliburton(HAL) - 2020 Q1 - Earnings Call Transcript
2020-04-20 18:56
Halliburton Company (NYSE:HAL) Q1 2020 Results Conference Call April 20, 2020 9:00 AM ET Company Participants Abu Zeya - Head of Investor Relations Jeff Miller - Chairman, President and Chief Executive Officer Lance Loeffler - Executive Vice President and Chief Financial Of Conference Call Participants Sean Meakim - JP Morgan James West - Evercore ISI Bill Herbert - Simmons Angie Sedita - Goldman Sachs Scott Gruber - Citigroup Chase Mulvehill - Bank of America David Anderson - Barclays Kurt Hallead - RBC ...
Halliburton(HAL) - 2019 Q4 - Annual Report
2020-02-11 21:57
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2019 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission File Number 001-03492 HALLIBURTON COMPANY (Exact name of registrant as specified in its charter) Delaware 75-2677995 (State or other ju ...
Halliburton(HAL) - 2019 Q4 - Earnings Call Transcript
2020-01-21 19:11
Halliburton Company (NYSE:HAL) Q4 2019 Results Conference Call January 21, 2019 9:00 AM ET Company Participants Abu Zeya - IR Jeff Miller - Chairman, President, and CEO Lance Loeffler - CFO Conference Call Participants James West - Evercore ISI Sean Meakim - JP Morgan Angie Sedita - Goldman Sachs Bill Herbert - Simmons Scott Gruber - Citigroup David Anderson - Barclays Chase Mulvehill - Bank of America Merrill Lynch Kurt Hallead - RBC Capital Markets Marc Bianchi - Cowen Operator Ladies and gentlemen, thank ...
Halliburton(HAL) - 2019 Q3 - Quarterly Report
2019-10-25 14:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Emerging Growth Company ☐ Smaller Reporting Company ☐ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2019 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission File Number 001 ...