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Halliburton profit beats consensus by 409.8% in Q4

Halliburton Co. said its normalized net income for the fourth quarter was 11 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

EPS declined 45.7% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $92.1 million, a decline of 45.2% from $168.0 million in the year-earlier period.

The normalized profit margin declined to 2.3% from 3.3% in the year-earlier period.

Total revenue fell 20.9% on an annual basis to $4.02 billion from $5.08 billion, and total operating expenses declined 21.1% year over year to $3.65 billion from $4.63 billion.

Reported net income came to a loss of $144.3 million, or a loss of 17 cents per share, compared with a loss of $26.3 million, or a loss of 3 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 10 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 4 cents.

EPS was $1.07 in the prior year.

Normalized net income was a loss of $90.3 million, compared with income of $909.1 million in the prior year.

Full-year total revenue fell on an annual basis to $15.89 billion from $23.63 billion, and total operating expenses fell on an annual basis to $15.23 billion from $21.40 billion.

The company said reported net income came to a loss of $5.76 billion, or a loss of $6.69 per share, in the full year, compared with a loss of $665.3 million, or a loss of 78 cents per share, the prior year.