Halliburton Company (NYSE:HAL) eked higher Tuesday on announcing fourth-quarter figures.
The Houston-based Halliburton revealed a net loss of $1.7 billion, or $1.88 per diluted share, compared to net income for the third quarter of 2019 of $295 million, or $0.34 per diluted share.
Adjusted net income for the fourth quarter of 2019, excluding impairments and other charges, was $285 million, or $0.32 per diluted share.
Halliburton's total revenue in the fourth quarter of 2019 was $5.2 billion, a 6% decrease from revenue of $5.6 billion in the third quarter of 2019.
Reported operating loss was $1.7 billion during the fourth quarter of 2019, compared to operating income of $536 million in the third quarter of 2019. Adjusted operating income for the fourth quarter of 2019, excluding impairments and other charges, was $546 million, a 2% increase sequentially.
HAL went on to say total revenue for the full year of 2019 was $22.4 billion, a decrease of $1.6 billion, or 7%, from 2018. Reported operating loss for 2019 was $448 million, compared to a reported operating income of $2.5 billion for 2018.
Excluding impairments and other charges, adjusted operating income for 2019 was $2.1 billion, compared to adjusted operating income of $2.7 billion for 2018.
“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,” commented Jeff Miller, Chairman, President and CEO.
HAL shares gained 5.5 cents to $24.02 early Tuesday morning.
