Halliburton Announces 1Q:22 Results [PDF Download]

(Halliburton, 19.Apr.2022) — Halliburton Company (NYSE: HAL) announced net income of $263mn, or $0.29 per diluted share, for the first quarter of 2022. This compares to net income for the first quarter of 2021 of $170mn, or $0.19 per diluted share. Adjusted net income for the first quarter of 2022, excluding impairments and other charges and a loss on the early extinguishment of debt, was $314mn, or $0.35 per diluted share. Halliburton’s total revenue for the first quarter of 2022 was $4.3bn compared to revenue of $3.5bn in the first quarter of 2021. Reported operating income was $511mn in the first quarter of 2022 compared to reported operating income of $370mn in the first quarter of 2021. Excluding impairments and other charges, adjusted operating income was $533mn in the first quarter of 2022.

“I am pleased with Halliburton’s first quarter results. Our performance demonstrated the resilience of our unique strategy in action and the importance of our competitive positioning both in North America and international markets,” commented Jeff Miller, Chairman, President and CEO.

“Total company revenue increased 24% and adjusted operating income grew 44% compared to the first quarter of 2021. Both of our divisions delivered strong margin performance despite weather and supply chain disruptions, with Drilling and Evaluation margin eclipsing 15% in the first quarter for the first time since 2010.

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