Halliburton Co reported stronger-than-expected fourth-quarter earnings on Wednesday, supported by steady demand for its oilfield services and equipment across major international markets.
The Houston-based company posted an adjusted profit of 69 cents per share for the three months ended December 31, beating analysts’ expectations of 55 cents, sending its shares up about 2.6% in premarket trading.
Halliburton’s international revenue rose 2.9% to $3.5 billion, driven by higher completion tool sales in Brazil, the North Sea and the Caribbean, along with increased software sales in Mexico.
Improved well construction activity across Africa and stronger stimulation work in Angola also supported performance during the quarter.
By contrast, North America revenue was flat at $2.2 billion, reflecting subdued drilling and production activity in the region.
Chief Executive Jeff Miller said international markets continue to outperform, adding that North America is likely to respond first when broader economic conditions improve.
The company recorded a pre-tax charge of $83 million, largely linked to asset impairments and severance costs.
Halliburton’s results mark the start of the U.S. oilfield services earnings season, highlighting the industry’s growing reliance on overseas markets amid weaker domestic activity.