HAL - Halliburton edges higher after Q4 profit topper dividend hike
Halliburton ( NYSE: HAL ) +0.8% pre-market Tuesday after beating Q4 adjusted earnings expectations and raising its quarterly dividend by a third to $0.16/share from $0.12/share.
Q4 GAAP net income fell to $656M, or $0.72/share, from $824M, or $0.92/share, for Q3, while total revenues rose 30% Y/Y to $5.58B.
Q4 revenues in the completion and production segment jumped 35% Y/Y to $3.18B, while the drilling and evaluation segment gained 25% to $2.4B; by geographic region, North America revenue surged 46% Y/Y to $2.61B, and Middle East/Asia increased 25% to $1.37B.
"Halliburton's ( HAL ) execution in 2022 demonstrated the earnings power of our strategy, and I expect this earnings power to strengthen in 2023 and beyond,"Chairman, President and CEO Jeff Miller.
The company's results wrapped up a mixed quarter for the top oilfield service providers, as Schlumberger ( SLB ) beat Wall Street expectations for Q4 profit, while Baker Hughes ( BKR ) missed both quarterly profit and revenue estimates.
Halliburton ( HAL ) shares are up more than 7% YTD and have gained 42% during the past year .
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Halliburton edges higher after Q4 profit topper, dividend hike