Halliburton(HAL) - 2024 Q4 - Annual Results

Financial Performance - Net income for Q4 2024 was $615 million, or$0.70 per diluted share, compared to $571 million, or$0.65 per diluted share in Q3 2024[2] - Total revenue for Q4 2024 was $5.6 billion, compared to$5.7 billion in Q3 2024[2] - Operating income for Q4 2024 was $932 million, compared to$871 million in Q3 2024[2] - Full-year 2024 revenue was $22.9 billion, flat compared to 2023[2] - Full-year 2024 operating income was$3.8 billion, compared to $4.1 billion in 2023[2] - Total revenue for the year ended December 31, 2024, was$22.944 billion, a slight decrease from $23.018 billion in 2023[25] - Net income attributable to the company for 2024 was$2.501 billion, down from $2.638 billion in 2023[25] - Total operating income for 2024 was$3.822 billion, down from $4.083 billion in 2023[25] - Operating income for the year ended December 31, 2024, was$3,822 million, compared to $4,083 million in 2023[42] - Adjusted operating income for 2024 was$3,938 million, after adding $116 million in impairments and other charges[42] - Net income attributable to the company for the year ended December 31, 2024, was$2,501 million, compared to $2,638 million in 2023[49] - Adjusted net income attributable to the company for 2024 was$2,644 million, after adding $143 million in net adjustments[49] - Adjusted net income per diluted share for 2024 was$2.99, compared to $3.13 in 2023[49] Segment Performance - Completion and Production revenue in Q4 2024 was$3.2 billion, a 4% decrease sequentially[6] - Drilling and Evaluation revenue in Q4 2024 was $2.4 billion, flat sequentially[7] - Completion and Production segment revenue for 2024 was$13.251 billion, compared to $13.689 billion in 2023[25] - Drilling and Evaluation segment revenue increased to$9.693 billion in 2024 from $9.329 billion in 2023[25] Regional Performance - North America revenue in Q4 2024 was$2.2 billion, a 7% decrease sequentially[8] - International revenue in Q4 2024 was $3.4 billion, a 3$9.626 billion in 2024 from $10.492 billion in 2023[38] - Middle East/Asia revenue increased to$6.104 billion in 2024 from $5.678 billion in 2023[38] Cash Flow and Capital Management - Halliburton repurchased$309 million of its common stock and $100 million of debt in Q4 2024[14] - Cash and equivalents increased to$2.618 billion at the end of 2024 from $2.264 billion in 2023[31] - The company repurchased$1.005 billion worth of stock in 2024, up from $800 million in 2023[33] - Free cash flow for the year ended December 31, 2024, was$2,646 million, compared to $2,274 million in 2023[54] - Total cash flows provided by operating activities for 2024 were$3,865 million, compared to $3,458 million in 2023[54] - Capital expenditures for 2024 were$1,442 million, compared to $1,379 million in 2023[54] - Proceeds from sales of property, plant, and equipment for 2024 were$223 million, compared to $195 million in 2023[54] Shareholder Metrics - Diluted weighted average common shares outstanding for 2024 were 883 million, compared to 902 million in 2023[49] - Adjusted net income per diluted share for 2024 was$2.99, compared to $3.13 in 2023[49] Impairments and Charges - The company incurred a$116 million charge in 2024 due to impairments and other charges, compared to none in 2023[25]