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Halliburton's Q4'19, full-year 2019 results decline as revenues drop

Oilfield services provider Halliburton Co. on Jan. 21 reported an adjusted net income attributable to the company of $285 million, or 32 cents per share, for the fourth quarter of 2019, compared with $358 million, or 41 cents per share, in the same period in 2018.

The S&P Global Market Intelligence consensus estimate for the quarter was 29 cents per share.

Total revenue for the quarter was at $5.19 billion, down from $5.94 billion in the same quarter in 2018.

The oilfield service company's revenue was driven by the completion and production segment at $3.06 billion during the quarter, a decrease from $3.83 billion in the same period in 2018. The drilling and evaluation segment contributed $2.13 billion, up slightly from $2.10 billion in 2018.

For the full year 2019, Halliburton posted an adjusted net income attributable to the company of $1.08 billion, or $1.24 per share, decreasing from $1.66 billion, or $1.90 per share, in 2018.

The S&P Global Market Intelligence consensus estimate for the full year was $1.21 per share.

The company's revenue for 2019 hit $22.41 billion, down from $24.00 billion in 2018.

Halliburton's completion and production segment contributed $14.03 billion for 2019, a drop from $15.97 billion in 2018. The drilling and evaluation segment contributed $8.38 billion for the full year of 2019, compared with $8.02 billion a year ago.