Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues.
First-quarter revenue edged up 2% annually to $5.8 billion. A decline in the North American region was more than offset by revenue growth in other geographical segments.
Meanwhile, net profit decreased to $606 million or $0.68 per share in the March quarter from $651 million or $0.72 per share in the comparable period a year earlier. First-quarter operating margin came in at 17%.
“Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth,” said Jeff Miller, CEO of Halliburton.