Halliburton reports net loss of 1.7 bln USD for Q4
U.S. oil services company Halliburton announced Tuesday a net loss of 1.7 billion U.S. dollars for the fourth quarter of 2019, compared with net income for the third quarter of 295 million dollars.
Halliburton's total revenue in the fourth quarter of 2019 was 5.2 billion dollars, a 6-percent decrease from revenue of 5.6 billion dollars in the third quarter. The adjusted net income for the fourth quarter of 2019, excluding impairments and other charges, was 285 million dollars.
The company's total revenue for the full year of 2019 was 22.4 billion dollars, a decrease of 1.6 billion dollars, or 7 percent, from 2018.
Jeff Miller, chairman, president and CEO of Halliburton, said, "I am pleased with how Halliburton executed for the fourth quarter and the full year. We optimized our performance in North America as the market softened, and our international business grew for the second year in a row."
He said that in 2020, the company's international growth is expected to continue. "2020 opens a new decade and a new century for Halliburton. We will continue to focus on delivering margin expansion, industry-leading returns and strong free cash flow."
Founded in 1919, Houston-based Halliburton is one of the world's largest providers of products and services to the energy industry.