Halliburton slips in Q4 on weaker NorthAm revenues

US energy services firm Halliburton said January 23 its net income in Q4 2023 slipped to $661mn from $716mn in the year earlier period, with North American revenue falling 7% from Q3 2023 and international revenue rising 4% sequentially.

Total revenue in Q4 was unchanged from Q3 2023 at $5.7bn, while operating income slipped 2% from Q3 to $1.1bn.

North America revenue was primarily driven by lower stimulation activity in the US, offset in part by increased stimulation and completion tool sales in the Gulf of Mexico.

International revenue was led by a 7% increase sequentially, to $1.5bn, in the Middle East/Asia region, driven by improved activity across multiple product lines in the Middle East. Europe/Africa revenue rose 4% sequentially to $767mn, driven primarily by increased activity in Africa, while Latin America revenue slipped 2% sequentially, to $1bn.