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Halliburton Company (HAL-2.67%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Halliburton's total revenue remained flat at $22.9 billion in 2024 compared to $23.0 billion in 2023. The Completion and Production segment saw a 3% decrease in revenue, while the Drilling and Evaluation segment experienced a 4% increase.
The company reported an operating income of $3.8 billion, down from $4.1 billion in the previous year. This decrease is attributed to lower pressure pumping services in U.S. land and reduced wireline activity.
International revenue increased by 6%, driven by growth in the Middle East/Asia region, while North America revenue decreased by 8% due to declining rig counts and lower commodity pricing.
Halliburton returned $1.6 billion to shareholders through buybacks and dividends in 2024, consistent with its capital returns framework.
The company continues to focus on digital and automation technologies to improve efficiency and capital efficiency, maintaining capital expenditures at approximately 6% of revenue.
Halliburton's sustainability efforts included expanding Halliburton Labs to support early-stage energy companies and setting a target to reduce Scope 1 and 2 emissions by 40% by 2035.
The filing details various risks, including geopolitical instability, cybersecurity threats, and regulatory changes that could impact operations.
Halliburton's workforce totaled over 48,000 employees across more than 70 countries, with a focus on safety and employee well-being.
The company noted a material weakness in its internal controls over financial reporting related to cybersecurity incidents that occurred in 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Halliburton Company annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.