Halliburton Company (NYSE: HAL) greeted Tuesday with the release of its fourth-quarter financial numbers.
The Houston-based energy company reported that income from continuing operations of $664 million, or $0.76 per diluted share, for the fourth quarter of 2018. This compares to income from continuing operations for the third quarter of 2018 of $435 million, or $0.50 per diluted share.
Adjusted income from continuing operations for the fourth quarter of 2018, excluding a tax benefit related to a strategic change in the company’s corporate structure, was $358 million, or $0.41 per diluted share.
Halliburton's total revenue in the fourth quarter of 2018 was $5.9 billion, a 4% decrease from revenue of $6.2 billion in the third quarter of 2018. Operating income was $608 million during the fourth quarter of 2018, a 15% decrease compared to operating income of $716 million in the third quarter of 2018.
Total revenue for the full year of 2018 was $24.0 billion, an increase of $3.4 billion, or 16%, from 2017. Reported operating income for 2018 was $2.5 billion, compared to a reported operating income of $1.4 billion for 2017. Excluding special items, adjusted operating income for 2018 was $2.7 billion, a 35% improvement from adjusted operating income of $2.0 billion for 2017.
Said CEO Jeff Miller, "I am pleased with our overall financial results for the year and for the fourth quarter. Our team optimized our performance in North America as the market softened, and the recovery of our international business continued."
HAL shares dropped $1.34, or 4.1%, to $30.91
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