Halliburton (HAL.US) Q4 revenue decreased by 2.4% year-on-year, falling short of expectations.

On January 22nd pre-market, energy products and services supplier Halliburton (HAL.US) announced its fourth-quarter performance for the year 2024. The financial report shows that Halliburton's Q4 total revenue was $5.6 billion, a 2.4% decrease year-over-year, lower than market expectations by $30 million; net profit was $615 million, compared to $661 million in the same period last year; basic and diluted earnings per share were $0.70, compared to $0.74 in the same period last year; non-GAAP earnings per share were $0.70, exceeding market expectations by $0.01. In terms of business segments, completion and production business revenue was $3.2 billion, a 4% decrease compared to the previous quarter; drilling and evaluation business revenue was $2.4 billion, remaining flat compared to the previous quarter. In the fourth quarter, the company's operating cash flow was $1.5 billion, with free cash flow of $1.1 billion. In the fourth quarter, Halliburton repurchased approximately $309 million worth of common stock and repaid approximately $100 million of debt through multiple preferred notes.