Q4 2024 Halliburton Co Earnings Call Transcript
Key Points
- Halliburton Co (HAL) delivered full-year total company revenue of $22.9 billion, with international business growing for the fourth consecutive year.
- The company generated $3.9 billion of cash from operations and $2.6 billion of free cash flow, demonstrating strong financial performance.
- Halliburton Co (HAL) repurchased $1 billion of common stock and paid $600 million in dividends, returning 60% of free cash flow to shareholders.
- The company is well-positioned with a transformed balance sheet, leading returns, and strong free cash flow, setting a solid foundation for future growth.
- Halliburton Co (HAL) is seeing strong adoption of its technologies like Octiv Auto Frac and Sensori, which are delivering significant value to customers.
- North America revenue decreased by 8% year-over-year, with a 7% decline in Q4 2024 compared to Q3 2024, due to seasonality and customer budget exhaustion.
- The company expects flat international revenues in 2025, with growth in most markets offset by activity reduction in Mexico.
- Lower negotiated prices for a portion of Halliburton Co (HAL)'s fleet are expected to impact margins, particularly in the first quarter of 2025.
- Completion and Production division revenue decreased by 4% sequentially in Q4 2024, driven by lower stimulation activity in North America.
- The Drilling and Evaluation division saw flat revenue and operating income sequentially in Q4 2024, with decreased drilling services in the Middle East and Latin America.
Good day, and thank you for standing by. Welcome to the Q4 2024 Halliburton Company earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to your speaker today, David Coleman, Senior Director of Investor Relations.
Hello, and thank you for joining the Halliburton fourth-quarter 2024 conference call. We will make the recording of today's webcast available for seven days on Halliburton's website after this call. Joining me today are Jeff Miller, Chairman, President, and CEO; and Eric Carre, Executive Vice President and CFO.
Some of today's comments may include forward-looking statements reflecting Halliburton's views about future events. These matters involve risks and uncertainties that could cause our actual results to materially differ from our forward-looking statements.
These risks are discussed in Halliburton's Form 10-K for the year ended
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