Halliburton Company reported total revenue of $5,697 million for the three months ended September 30, 2024, reflecting a 2% decrease from $5,804 million in the same period of 2023. For the nine months ended September 30, 2024, revenue increased slightly to $17,334 million, up from $17,279 million year-over-year. The decline in quarterly revenue was primarily attributed to a 9% decrease in North America, driven by lower pressure pumping and well intervention services, as well as reduced activity in the Gulf of Mexico due to hurricanes. Conversely, international revenue rose by 4%, bolstered by increased activity in Kuwait and improved well construction in Mexico and the UAE.

Operating income for Q3 2024 was $871 million, down 16% from $1,037 million in Q3 2023. The decrease was influenced by impairments and other charges totaling $116 million, which included severance costs and asset impairments. Net income for the quarter was $580 million, compared to $1,995 million for the same period in the previous year. Basic and diluted net income per share for Q3 2024 stood at $0.65.

For the nine months ended September 30, 2024, net income was $1,902 million, a slight decrease from $1,995 million in the same period of 2023. The company reported total cash flows from operating activities of $2,409 million, an increase from $2,048 million in the prior year. Halliburton's stock repurchase program saw $696 million spent on repurchases during the first nine months of 2024, compared to $546 million in the same period of 2023.

The Completion and Production segment experienced a 5% revenue decline in Q3 2024, primarily due to decreased stimulation activity and lower completion tool sales. In contrast, the Drilling and Evaluation segment saw a 3% revenue increase, driven by enhanced drilling services in the Western Hemisphere and Middle East/Asia.

Halliburton also faced challenges, including extended supply chain lead times and inflationary cost increases, particularly in chemicals and logistics. A cybersecurity incident in August 2024 resulted in unauthorized access to certain systems, but it is not expected to materially impact the company's financial condition.

As of September 30, 2024, Halliburton had approximately $2.2 billion in cash and equivalents, a decrease from $2.3 billion at the end of 2023. The company continues to focus on international growth, digital integration, and sustainability initiatives while maintaining a commitment to return over 50% of annual free cash flow to shareholders through dividends and share repurchases.