Halliburton(HAL) - 2024 Q1 - Quarterly Results

Financial Performance - Net income for Q1 2024 was $606 million, or $0.68 per diluted share, compared to $651 million, or $0.72 per diluted share in Q1 2023[1]. - Total revenue for Q1 2024 was $5.8 billion, a 2% increase from $5.677 billion in Q1 2023[1]. - Completion and Production revenue was $3.4 billion, a slight decrease from $3.409 billion in Q1 2023, while operating income increased by 3% to $688 million[3]. - Drilling and Evaluation revenue increased by 7% to $2.4 billion, with operating income rising by 8% to $398 million[4]. - North America revenue decreased by 8% to $2.5 billion, primarily due to lower pressure pumping services[5]. - International revenue increased by 12% to $3.3 billion, with Latin America showing a 21% increase to $1.1 billion[6][7]. - Halliburton's total operating income for Q1 2024 was $987 million, slightly up from $977 million in Q1 2023[16]. - Net income for Q1 2024 was $609 million, a decrease of 7% from $655 million in Q1 2023[21]. - Total revenue for Q1 2024 was $5,804 million, up 2.2% from $5,677 million in Q1 2023[22]. - Operating income for Q1 2024 was $987 million, slightly up from $977 million in Q1 2023[23]. - Adjusted net income attributable to the company for Q1 2024 was $679 million, compared to $651 million in Q1 2023[24]. - The diluted net income per share for Q1 2024 was $0.68, down from $0.72 in Q1 2023[24]. Cash Flow and Expenditures - Cash flow from operations was $487 million, with free cash flow of $206 million[1]. - Free cash flow for Q1 2024 was $206 million, compared to a negative $105 million in Q1 2023[27]. - Capital expenditures in Q1 2024 were $330 million, an increase from $268 million in Q1 2023[27]. - The company reported total cash flows provided by operating activities of $487 million, significantly higher than $122 million in Q1 2023[27]. Stock and Investments - Halliburton repurchased approximately $250 million of common stock in Q1 2024[2]. - The company incurred a charge of $82 million primarily due to impairment of an investment in Argentina and currency devaluation in Egypt[24]. Technology and Services - The company introduced new technologies including Reservoir Xaminer™ and CorrosaLock™ cement system, enhancing its service offerings[11][12]. Upcoming Events - Halliburton will host a conference call on April 23, 2024, to discuss its Q1 2024 financial results[29].