Halliburton Company introduced a internet lack of $235 million for the fourth quarter of 2020. This compares to a internet loss for the third quarter of 2020 of $17 million. Adjusted internet revenue for the fourth quarter of 2020, excluding impairments and different expenses, was $160 million. This compares to adjusted internet revenue for the third quarter of 2020, excluding severance and different expenses, of $100 million. Halliburton’s complete income within the fourth quarter of 2020 was $three.2 billion, a 9% enhance from income of $three.zero billion within the third quarter of 2020. Reported working loss was $96 million within the fourth quarter of 2020 in comparison with reported working revenue of $142 million within the third quarter of 2020.
Total income for the complete 12 months of 2020 was $14.four billion, a lower of $eight.zero billion, or 36% from 2019. Reported working loss for 2020 was $2.four billion, in comparison with reported working lack of $448 million for 2019.
“I’m happy with our strong execution within the fourth quarter and for the complete 12 months. Our swift and decisive value actions and repair supply enhancements reset our earnings energy, delivering sturdy margins and money circulation. We additionally achieved historic bests in security and repair high quality,” commented Jeff Miller, Chairman, President and CEO. “I’m optimistic concerning the exercise momentum I see in North America, and anticipate worldwide exercise to backside within the first quarter of this 12 months. I’m additionally inspired by the rising pipeline of worldwide buyer alternatives and the unfolding world exercise restoration. “I consider our strategic priorities will enable us to proceed producing industry-leading returns and robust free money circulation and solidify Halliburton’s function within the unfolding power market restoration,” concluded Miller.
North America income within the fourth quarter of 2020 was $1.2 billion, a 26% enhance when in comparison with the third quarter of 2020. This enhance was pushed by increased exercise in stimulation and synthetic carry in U.S. land, in addition to increased effectively building and wireline companies exercise, and year-end completion instruments and software program gross sales.
International income within the fourth quarter of 2020 was $2.zero billion, basically flat when in comparison with the third quarter of 2020.
The put up HALLIBURTON EXPECTS INTERNATIONAL ACTIVITY TO BOTTOM IN Q1 2021 appeared first on Energy Global News.