Halliburton's Strong International Growth and Future Outlook

2024-01-24

Halliburton Company recently held its fourth quarter 2023 earnings conference call, where they discussed various topics related to their business. The participants in the conference call were Jeff Miller, chairman, president, and CEO; Eric Carre, executive vice president and CFO; and David Coleman, senior director of investor relations.

During the call, the executives discussed the risks mentioned in Halliburton's forward-looking statements, which were outlined in their Form 10-K for the year ended December 31st, 2022, Form 10-Q for the quarter ended September 30th, 2023, recent current reports on Form 8-K, and other Securities and Exchange Commission filings.

They also provided financial information for the year 2023, stating that Halliburton generated total company revenue of $23 billion and achieved operating income of $4.1 billion. They highlighted the strong growth of their international business, with revenue up 17% year over year, despite their exit from Russia in August 2022.

The executives also discussed Halliburton's performance in North America, where they had steady margins despite lower activity. They highlighted the strength of their well construction business and the rollout of their Zeus electric fracturing solution. They also mentioned their focus on creating value for customers and their strategy of collaborating with other companies to fill weaker spots in their portfolio.

In terms of capital allocation plans, the executives stated their intention to buy back more shares in 2024 than in 2023 and continue retiring debt to strengthen their balance sheet. They emphasized their focus on generating strong free cash flow and maximizing returns for shareholders.

Looking ahead, the executives discussed the company's outlook for the future, highlighting the expected growth in international markets, particularly in the Middle East/Asia region. They mentioned the potential for increased activity in the North Sea and West Africa and the value created by their Zeus electric fracturing solution.

Overall, the conference call covered a range of important business topics, including financial performance, market outlook, technology advancements, capital allocation, and value creation for shareholders. Halliburton remains focused on driving growth, creating value for customers, and maximizing returns for its shareholders in the coming years.