Halliburton Clocks 31% Revenue Growth In Q4 Backed By Strong Segmental Performance; Boosts Quarterly Dividend

Halliburton Company HAL, a provider of products and services to the energy industry, reported fourth-quarter FY22 revenue growth of 30.5% year-over-year to $5.582 billion, marginally beating the consensus of $5.580 billion.
Adjusted EPS of $0.72 beat the consensus of $0.67.
Operating income increased to $976 million (+77.5% Y/Y), and the margin expanded by 463 bps to 17.5%.
Completion and Production revenue increased 35.1% Y/Y to $3.18 billion, and the corresponding operating income increased by 89.9% Y/Y to $659 million.
Drilling and Evaluation revenue increased by 24.9% Y/Y to $2.40 billion, and operating income increased by 43.9% Y/Y to $387 million.
Halliburton's cash flows provided by operating activities were $1.16 billion. The company held cash and equivalents of $2.35 billion.
Q1 Dividend: Halliburton boosted the quarterly dividend by 33% to $0.16 per share, payable on Mar. 29, 2023, to shareholders of record on Mar. 1, 2023. Halliburton paid a Q4 dividend of $0.12 per share in December 2022.
"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, Chair and CEO.
Price Action: HAL shares are trading higher by 0.59% at $40.81 in the premarket on the last check Tuesday.
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