Halliburton Company (NYSE: HAL) on Tuesday reported a sharp increase in third-quarter revenues. Reflecting the strong top-line performance, the oilfield services company’s net profit more than doubled.
Both operating segments registered strong growth in the September quarter, and total revenues surged 39% annually to $5.36 billion. A modest decline in the Europe/Africa/CIS region was more than offset by double-digit growth in the other segments.
Third-quarter net income was $544 million or $0.60 per share, compared to $236 million or $0.26 per share in the comparable period of 2021.
Check this space to read management/analysts’ comments on Halliburton’s Q3 2022 results
“Looking forward, we see activity increasing around the world — from the smallest to the largest countries and producers. We intend to continue to execute on our strategic priorities and drive free cash flow and returns for our shareholders. I believe these strategies equip Halliburton to outperform under any market condition, but especially to maximize returns through this upcycle,” said Halliburton’s CEO Jeff Miller.