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| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $14,445 | $15,295 | $20,297 | $23,018 | $22,944 |
| Gross Profit | -$2,436 | $1,800 | $2,707 | $4,083 | $3,822 |
| Operating Income | -$2,436 | $1,800 | $2,707 | $4,083 | $3,822 |
| Net Income | -$2,945 | $1,457 | $1,572 | $2,638 | $2,501 |
Over the five-year period, Halliburton’s revenue shows a strong recovery and growth trajectory following a challenging 2020. The company reported revenues of $14,445 million in 2020 with a negative gross and operating income, reflecting operational challenges or market disruptions at that time. In 2021, revenue increased modestly to $15,295 million, and the company turned positive with a gross profit of $1,800 million and a net income of $1,457 million. This turnaround suggests a significant operational improvement. Notably, the jump from 2021 to 2022 saw revenue surge by about 33%, reaching $20,297 million, accompanied by increases in gross profit and operating income, indicating that Halliburton successfully leveraged favorable market conditions or internal efficiencies during that period. From 2022 to 2023, revenue continued to climb, albeit at a slower rate (approximately 13% increase to $23,018 million), with gross profit and net income also rising to $4,083 million and $2,638 million, respectively. However, in 2024, despite a slight revenue decline to $22,944 million, both gross profit and net income experienced modest contractions, decreasing to $3,822 million and $2,501 million. These year-over-year changes, particularly the significant turnaround post-2020 and the over 20% improvement between 2021 and 2022, suggest that operational enhancements and possibly favorable oil price environments drove early growth. The minor dip in 2024 may signal market normalization or temporary headwinds but does not overshadow the overall positive trend in profitability. Overall, Halliburton’s performance reflects a robust recovery from prior losses with sustainable profitability improvements, though careful monitoring of market dynamics remains essential given the inherent volatility in the oilfield services industry.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.