$HAL
HALLIBURTON CO

2024 Q3 Form 10-Q Financial Statement

#000004501224000043 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $5.697B $5.833B
YoY Change -1.84% 0.6%
Cost Of Revenue $4.627B $4.710B
YoY Change -1.26% -0.21%
Gross Profit $1.070B $1.123B
YoY Change -4.29% 4.17%
Gross Profit Margin 18.78% 19.25%
Selling, General & Admin $55.00M $62.00M
YoY Change -5.17% 14.81%
% of Gross Profit 5.14% 5.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0M $271.0M
YoY Change 5.47% 10.61%
% of Gross Profit 25.23% 24.13%
Operating Expenses $4.826B $4.801B
YoY Change 5858.02% 7065.67%
Operating Profit $871.0M $1.032B
YoY Change -16.01% 2.08%
Interest Expense -$85.00M -$92.00M
YoY Change -8.6% 0.0%
% of Operating Profit -9.76% -8.91%
Other Income/Expense, Net -$52.00M -$20.00M
YoY Change 85.71% -37.5%
Pretax Income $734.0M $920.0M
YoY Change -19.87% 17.5%
Income Tax $154.0M $207.0M
% Of Pretax Income 20.98% 22.5%
Net Earnings $571.0M $709.0M
YoY Change -20.25% 16.23%
Net Earnings / Revenue 10.02% 12.15%
Basic Earnings Per Share $650.0K $800.0K
Diluted Earnings Per Share $650.0K $0.80
COMMON SHARES
Basic Shares Outstanding 882.8M shares 885.3M shares
Diluted Shares Outstanding 881.0M shares 886.0M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.178B $2.138B
YoY Change 6.97% 1.57%
Cash & Equivalents $2.178B $2.138B
Short-Term Investments
Other Short-Term Assets $1.332B $1.131B
YoY Change 20.65% -1.74%
Inventory $3.194B $3.282B
Prepaid Expenses
Receivables $5.339B $5.327B
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.04B $11.88B
YoY Change 3.82% 3.8%
LONG-TERM ASSETS
Property, Plant & Equipment $4.945B $6.099B
YoY Change 4.48% 10.15%
Goodwill $2.838B $2.858B
YoY Change -0.42% 0.63%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.058B $4.317B
YoY Change 20.35% 1.5%
Total Long-Term Assets $13.29B $13.27B
YoY Change 3.47% 5.1%
TOTAL ASSETS
Total Short-Term Assets $12.04B $11.88B
Total Long-Term Assets $13.29B $13.27B
Total Assets $25.33B $25.15B
YoY Change 3.64% 4.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.009B $3.295B
YoY Change -7.07% 3.36%
Accrued Expenses $941.0M $877.0M
YoY Change -23.06% -25.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.460B $5.576B
YoY Change 0.76% 4.3%
LONG-TERM LIABILITIES
Long-Term Debt $7.639B $7.638B
YoY Change -1.85% -3.69%
Other Long-Term Liabilities $683.0M $1.892B
YoY Change -13.54% -8.55%
Total Long-Term Liabilities $683.0M $9.530B
YoY Change -13.54% -4.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.460B $5.576B
Total Long-Term Liabilities $683.0M $9.530B
Total Liabilities $14.98B $15.15B
YoY Change -1.8% -1.48%
SHAREHOLDERS EQUITY
Retained Earnings $13.87B $13.45B
YoY Change 15.37% 17.37%
Common Stock $2.700B $2.663B
YoY Change 0.41% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.940B $5.781B
YoY Change 11.44% 11.15%
Treasury Stock Shares
Shareholders Equity $10.30B $10.00B
YoY Change
Total Liabilities & Shareholders Equity $25.33B $25.15B
YoY Change 3.64% 4.48%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $571.0M $709.0M
YoY Change -20.25% 16.23%
Depreciation, Depletion And Amortization $270.0M $271.0M
YoY Change 5.47% 10.61%
Cash From Operating Activities $841.0M $1.081B
YoY Change -3.78% 2.76%
INVESTING ACTIVITIES
Capital Expenditures $339.0M $347.0M
YoY Change -17.11% 14.52%
Acquisitions
YoY Change
Other Investing Activities -$97.00M -$46.00M
YoY Change 410.53% -53.06%
Cash From Investing Activities -$436.0M -$393.0M
YoY Change 1.87% -2.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -347.0M -416.0M
YoY Change -28.16% 5.32%
NET CHANGE
Cash From Operating Activities 841.0M 1.081B
Cash From Investing Activities -436.0M -393.0M
Cash From Financing Activities -347.0M -416.0M
Net Change In Cash 58.00M 272.0M
YoY Change -256.76% 6.25%
FREE CASH FLOW
Cash From Operating Activities $841.0M $1.081B
Capital Expenditures $339.0M $347.0M
Free Cash Flow $502.0M $734.0M
YoY Change 7.96% -2.0%

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Basis of Presentation<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements were prepared using United States generally accepted accounting principles (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Regulation S-X. Accordingly, these financial statements do not include all information or notes required by U.S. GAAP for annual financial statements and should be read together with our 2023 Annual Report on Form 10-K.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accounting policies are in accordance with U.S. GAAP. The preparation of financial statements in conformity with these accounting principles requires us to make estimates and assumptions that affect:</span></div><div style="margin-bottom:3pt;padding-left:49.5pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements; and</span></div><div style="padding-left:49.5pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the reported amounts of revenue and expenses during the reporting period.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ultimate results could differ from our estimates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In our opinion, the condensed consolidated financial statements included herein contain all adjustments necessary to present fairly our financial position as of June 30, 2024 and the results of our operations for the three and six months ended June 30, 2024 and 2023, and our cash flows for the six months ended June 30, 2024 and 2023. Such adjustments are of a normal recurring nature. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The results of our operations for the three and six months ended June 30, 2024 may not be indicative of results for the full year.</span></div>
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