Halliburton announced total revenue for the full year of 2022 was US$20.3 billion, an increase of US$5.0 billion, or 33% from 2021. Operating income for 2022 was US$2.7 billion, and adjusted operating income was US$3.1 billion, excluding impairments and other charges, compared to operating income of US$1.8 billion for 2021.
This was determined after the company closed the fourth quarter with net income of US$656 million, or $0.72 per diluted share, for the fourth quarter of 2022. This compares to net income for the third quarter of 2022 of US$544 million, or $0.60 per diluted share.
Its total revenue for the fourth quarter of 2022 was US$5.6 billion compared to US$5.4 billion in the third quarter of 2022. Operating income was US$976 million in the fourth quarter of 2022 compared to US$846 million in the third quarter of 2022.
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“Halliburton’s execution in 2022 demonstrated the earnings power of our strategy, and I expect this earnings power to strengthen in 2023 and beyond. Both operating divisions delivered strong margins in the international and North America markets,” commented Jeff Miller, Chairman, President and Chief Executive Officer (CEO).
He said the Halliburton board has adopted a capital returns framework and an increase in the company’s dividend to $0.16 per share beginning this quarter.
“I am confident in Halliburton’s strong outlook and ability to generate increased returns for shareholders. Halliburton’s exceptional financial performance is a clear result of executing our strategic priorities – to maximize value in North America, deliver profitable international growth and drive capital efficiency,” concluded Miller.
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Halliburton is a prime contractor of ExxonMobil Guyana, operator of the South American nation’s largest and most lucrative offshore block.
Since 2015, the oilfield service company has steadily expanded its activities in Guyana, which has seen the establishment of state-of-the-art facilities, including one of the largest mud plants in the hemisphere, and expansion of its local workforce. It has also moved close to 100% of its services to Guyana.
