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1/19, 12:48 PM (Source: TeleTrader)
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Halliburton posts loss per share of $0.27 in Q4

Halliburton posted a loss per share of $0.27 in the fourth quarter which compares to a loss per share of $1.88 in the same quarter of 2019, the company announced on Tuesday. Meanwhile, Halliburton's net loss decreased from $1.65 billion a year ago to $227 million. The energy company's revenue in the last quarter of 2020 declined by 37.6% year on year to $3.2 billion.

In the year ended December 31, Halliburton's basic and diluted loss per share came in at $3.34, as it increased from a loss of $1.29 per share in the previous fiscal year. The firm's net loss was $2.9 billion, which compares to a loss of $1.1 billion in 2019. Furthermore, Halliburton's total revenue in 2020 fell by 55% from the previous year.

"I am pleased with our solid execution in the fourth quarter and for the full year. Our swift and decisive cost actions and service delivery improvements reset our earnings power, delivering strong margins and cash flow. We also achieved historic bests in safety and service quality," CEO Jeff Miller said.

Halliburton shares rose 1.01% at 6:06 am ET in premarket trading.

Breaking the News / VP