Halliburton Q3 2024 Earnings: A Look at Revenue and Profit Decline
Halliburton Q3 2024 Earnings Overview
Energy giant Halliburton Company (NYSE: HAL) announced its financial results for the third quarter of 2024, revealing adverse trends in revenue and profits. The Q3 revenue saw a 1% decline year-over-year, totaling $5.70 billion.
Key Financial Highlights
- Net profit decreased to $571 million, translating to $0.65 per share.
- In comparison, profits were $716 million or $0.79 per share during the same period last year.
- Notably, revenues dropped 4% in both North America and other regions.
Impact Factors
CEO Jeff Miller stated, “We experienced a $0.02 per share impact to our adjusted earnings from lost or delayed revenue due to the August cybersecurity event and storms in the Gulf of Mexico.”
Outlook
The ongoing challenges in the energy infrastructure market raise questions about Halliburton's future performance. More updates and insights will be provided as the situation evolves.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.