HAL - Earnings call transcript Q4 2024

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Operator

Good day, and thank you for standing by. Welcome to the Q4 2024 Halliburton Company Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker today, David Coleman, Senior Director of Investor Relations.

David Coleman

for Halliburton you Conference Quarter thank Call. and joining Fourth the XXXX Hello,

the webcast of days will recording We make today's website this on after available call. Halliburton's X for

CEO; and CFO. are Chairman, Jeff Joining Carre, me President President today and Vice Executive and Miller, Eric

These ended XX, comments cause for ended events. to obligation and Halliburton's our filings. recent reason. our to any differ involve on year December for of Commission actual XXXX, about the today's statements no reflecting forward-looking views X-K uncertainties the for September current revise from risks Form XX-K quarter in include or results Form Form may other XX-Q Some risks are Exchange undertake and Securities statements. publicly and XX, statements update and forward-looking Halliburton's XXXX, We forward-looking future matters could discussed reports These that any materially

Our measures. financial comments also include today non-GAAP

most our and measures reconciliation financial directly to GAAP details quarterly the our in quarter Additional fourth section website. results and the and of comparable presentation on earnings included are release

Jeff. Now call the over I'll to turn

Jeffrey Miller

David, and year was a morning, Halliburton. Thank you, everyone. for good XXXX solid

$XX.X highlights. are company of Here full billion. year year delivered revenue total the We full

in business delivered by a Our fourth growth, X%. increase with the grew revenue international of Middle X% year-over-year for an row which year led East/Asia,

flow. of cash generated completion North of Our free the outperformed cash $X.X America business declined $X.X billion activity. Halliburton billion operations but count and X% rig year-over-year from and

representing million cash XX% free Finally, dividends we return repurchased $X shareholders, common paid of billion a flow. of and our to our stock $XXX of

performance work their thank to and our service this quality. would for we Before I safety move year, record delivering both on, extraordinary in like employees

for and maximize deliver the to your are commitment proposition work. solutions hard you our ones asset to employees, engineer value customers. day our Thank for our and You, that every value collaborate

and reached come. trend per the alongside We for economic I oil this growth in see play ignore. capita today to Let accessibility, decades begin consumption compelling energy. prosperity, and with grow to dependability role growth gas believe a will too oil in renewable affordability critical and consumption expect and outlook of industry to and record for highs the energy and my gas Halliburton. simply me for are continue energy to as I

gives I'm oil that move and for we as approaches there is hydrocarbon idealistic. a around attitudes confidence. believe pragmatic we will and and to rather large confident in be meet the great forward, gas quantities demands that world long me the I without way the no energy development than time,

great half ahead, we in financial balance and for with a and transformed X sheet, flow. In Halliburton I the position advantage strengthen environment confident am the returns its is years begin competitive cash will second strong for Halliburton, fundamental This decade and a of reasons. leading position free a this strong

automation and the depth segments I We attractive leader our a portfolio, in these in with digital market the our generate of in marketplace. technology reach, expect combined electrification, Halliburton services to developments returns, targeted our increase First, investments technology make strengths focus our and our global further unique advantages. solutions where global

in aligns proposition demonstrated value results Halliburton alliances. We customer value of the values. strategic unique our customers our and maximize this and Second, to asset deliver again leading see again our deepening with alignment of the

artificial positioned and excels uniquely are towards and where where are activity customer shifting today see drilling outperform unconventionals, in areas lift, which all I Halliburton of technology, the Lastly, well intervention to future. we

international delivered the where markets results. I'll Halliburton year profitable begin with of another our growth. to Turning

I growth our full which international international Middle performance am with Our X% region, revenue the year-over-year, and business. X%. year grew East/Asia our by the of led grew pleased

expect activity reduction our revenues most international mid-single international Mexico, In will we low markets, franchise growth with international Mexico. year-over-year Halliburton XXXX, by for grow year. in flat offset digits we Absent to expect next in

engines X based growth in next alliances. XXXX, these growth particular, in confident believe business These the additional $X for generate I the the am X include intervention lift technologies, unconventionals, an our power outlook growth engines and years. well businesses. of on long-term and billion drilling in annual customer the artificial Halliburton, Halliburton's billion collectively years X of Beyond our engines to I revenue could in $X.X international to

our Even value see increasingly it has collaborative and ways. improve the create in consistently for adopt They work these is in proven customers of more see than areas the I more them. and proposition working way growth to I innovative exciting trend value performance because to this of embracing

While the power most all of visible it's world, the around our Norway. traction collaborative value proposition has in

built growing rest alliances in delivered the significant business of a improvements international in Norway These several same have the our environments. technologies I has Together customer our pioneered apply on customers, moving have and advances and profitable performance collaborative we alliances. time, business with strong safety. direction. that successfully Over see work and leading Halliburton in

deep What and is equally performance operators a future group is to lies clear growing of of collaboration. in the so that me to

expect we unique for made Halliburton our change and exceptional reinforce technology in will and and in culture For collaborative to our this value decade, choices processes last a performance strategic have is creates that customers. people, the of create these environments. the highly development I

collaboration and I come. excited a and platform beyond. services has our customers. value years will international international clear in I the create expect markets, us opportunities growth Halliburton meaningfully business to both our I'm further these to contribute in outperform the value to about And will driving for engines terrific and believe Halliburton and international market differentiate summarize deep To proposition, our our XXXX

billion seasonality our $X.X third quarter than Fourth exhaustion. from revenues year X% revenue were to budget North lower an XXXX. of XXXX America, XXXX was customer X% quarter due In full decrease and

expect XXXX second to our low flat from or America North digits we XXXX. As to half approximately to with XXXX, revenue look mid-single I levels decrease the of

lower see majority expect the outpace of financial by driven will part from negotiated impact revenue performance first quarter revisions margin lower in competition. pricing, our I prices our am a fleet, these Despite we for our widely confident This of in for the to is results. price portion our the and year

back If the minute, America North for numbers year. in excited Halliburton things I this doing is a several from I'm about step

Let has hood under me so me you the on tell that excited. what's going

are sold we First, out.

of fleets our are working All under contracted or committed programs.

contracts the Next, market-leading by fleets, making XX% Zeus, and of of expect we're will extending our XXXX. new for our renewing comprise deliveries existing Zeus fleet and end e-fleets

and widely Sensori Next, technology. and value. Octiv customers Frac being adopted by delivering are Auto

next are North be America the by believe business down. up, Next, drilling. inflection services steerables of on directional a America rotary year-end. catalyzing rotary not for to will North steerable finally, about I the XX% ICruise capture pace And

the for for power believe North be America most and electrification today by power significant in exports. I of These demand our good is expected pressing without solved the the all amounts we second move in driven franchise things Halliburton cannot on natural of this and top the are increases are the bedrock decade. AI, of of half into These gas. energy LNG is in very the problem XXXX. This North shortage America as

clear through America the themes I this crystal are When several about me. to period, market North think

leading our programs workflows, for where performance innovation into long-term further technologies to our these fully technology, drive and work processes First, customers as our collaborative on they stable, adoption expect customers their deliver Halliburton. I well and of costs. integrate rely lower total work them

example expected year, Launched of is is over spreads Auto growth with a this. Octiv Frac of last XX% already quarter. on our great it Zeus used more this

multi-well designs X,XXX scale Our on optimize more in technology another this North pads. example. Sensori In quarter on stages alone, than monitoring frac at Sensori fracture well America. to was is Customers completion fourth adopting the are used

to The positioned will expect improvements and is believe unconventional at the second even efficiencies our development and large customers Halliburton our to innovate rising scale. is productivity. continue deliver industrialization trend customers' of and budgets. plans America and I and I continue the importance North expect resources of uniquely seek these I greater large

A final there have expect cash the performance. margins believe and marked of trend Halliburton's rest flow cycles. the doubt see a that to generation financial is from I little and change strength is date through to durability decade step of the I prior our

and results term. attractive I markets While deliver strategy long financial will the Halliburton's will fluctuate, am margins confident over

I'm ahead the term my about and long for remarks Let this. year excited close me both the Halliburton. with

execute artificial lift. and deepen revenue our incremental proposition, our deliver portfolio well value unconventionals, expect through our and intervention technology technology, We growth to engines, drilling

to Finally, shareholders. disciplined to at in allocation, flow in cash expect we In XXXX, stock remain and flow billion I we and in or flow capital return repurchases $X.X billion shareholders and our XXXX. prioritizing of cash of $X.X return will cash least cash free free returned about XX% dividends, we of

our now I'll that, more over provide financial turn the on to to Eric? With Eric details results. call

Eric Carre

and Jeff, morning. good you, Thank

Operating XX%. Total $X.XX. billion, was million QX decrease was net was income a income for X% of share diluted per QX Our revenue operating and sequentially. 'XX, margin was $X.X reported $XXX company

segment's stimulation our America. were Operating to Revenues decrease and these points. QX the XX margin Now of by and increased XX%, North results. Middle million, activity America lower offsetting Africa in basis with in X% sequentially. Production division, was a was sequentially. billion, was sequential of Operating X% decrease a turning income of $X.X a revenue decrease Completion Beginning $XXX the Partially driven decreased were in primarily activity pumping improved East. and lift decreases Latin artificial services stimulation pressure in activity North in America and

decreased million, QX was flat $X.X services America. East and division, Revenues and Evaluation in Operating both the XX%, income by sequential offset improved margin by and the Drilling $XXX sequentially. and a drilling-related drilling the XX our North East decrease were in billion In Latin increased fluid Middle Sea, was was revenue services points. basis in driven services Middle and of in Europe/Africa operating

on to geographic let's move results. Now

a revenue higher due decrease Latin these was lines decreases across QX Mexico. revenue product product lower was primarily increased in activity to Partially Brazil. in across QX sequentially. sequentially. offsetting America were X% Our multiple $XXX X% international of lines This decrease multiple in activity million,

increase Europe/Africa were these increased well fluid pumping cementing decreased increases activity was an increase higher This drilling-related $XXX revenue of North as QX million, Sea North and Partially XX% was services the services sequentially. due Sea. primarily to lower Africa. in the services and pipeline as improved pressure services in in in offsetting

Middle drilling primarily revenue higher activity, This increase fluid an decreased and X% tool the throughout partially Asia. Middle in sales in offset billion, East/Asia QX stimulation by was due increase $X.X was to of completion East, services sequentially.

In and decline partially across billion, QX tool region, lift revenue sales. activity was This offset lower stimulation $X.X was a decrease X% artificial by of by primarily completion higher North driven increased America, the activity sequentially.

Moving on $XX our was and million. to other items. corporate In other QX, expense

quarter is on first our results. in SAP expenses to SX about or included we corporate In diluted which million XXXX per our $X.XX decrease $XX expect QX, We spent share slightly. migration,

expenses QX expect to we million. For XXXX, $XX about SAP be

million. year we full 'XX, to expenses the be $XXX SAP For expect approximately

million. $XX was quarter the for expense interest Net

we be QX to net was Other QX was unfavorable expense exchange foreign net For expect interest million $XX XXXX, multiple for by expense $XX movements million. which about currencies. driven in

expect approximately we this be XXXX, QX million. $XX to For expense

XX.X%, effective and XXXX rate approximately rate for to expect Our we our QX effective XX%. tax tax was be QX

our increase implementation of X an For rate. the is full to be XXX basis earnings effective fewer increase shift our and XXXX, discrete year rate equal XXXX the This XX.X%, by in expect tax effective geographic parts items, mix. taxes we driven the of over Pillar approximately in anticipated tax tax points

full cash year approximately be flat XXXX. I expect taxes with Importantly, to

were total year about QX of brought CapEx $X.X our revenue. expenditures billion $XXX X% for full million, Capital or which to

XXXX, year revenue. expenditures of full we capital to expect the of approximately remain For X%

strong $X.X was collections operations from driven billion, flow exceptionally during the cash quarter. by QX Our

Our free $X.X increase cash billion, was cash QX a year XXXX. billion, to free over flow bringing XX% full $X.X our in flow

to Now sequential you anticipate division, our with Production let for comments to basis to XX% points. to we our revenue decline QX to divisions down to and X% for revenue margins flat sequential Drilling to provide In on Evaluation XX XXXX. margins Completion our decline to X% decline and be we XXX XXX expect our X% division, basis points. expectations In me and and

I will call to Jeff. back the turn now

Jeffrey Miller

Eric. Thanks,

see and Drilling would a outpace value development from gas, long-term and towards collaborative America, a of see growth I am our resources. In performance today. points our our pragmatic adoption pleased am capacity. our like the I In long-term take the both engines. key am for confident We on to the we shift competition. were strong out away in widely oil with discussion hydrocarbon outlook frac and I and international growth as I sold North markets, the are you Completions and our result of of of our the financial will confident technologies, broader adoption we proposition our Here

in return for to and a to questions. had returns year XXXX. it $X.X we cash up shareholders Finally, billion expect And now strong at to open for least shareholders let's

Operator

question with [Operator David Anderson Instructions] Barclays. Our first comes from

John Anderson

C&P America how you revenue we down had talk pretty see you a So more expected, this can year, than to A you flat talked little that? about I bit bit XXXX. worse maybe prices fell you past and resilient kind cost compared structure? guess, Was you Then just yet pricing, negotiated fell X%. Pricing, this North of it about C&P secondarily, year. did margins coming margins lower

what of what renegotiated? certain could little color about please? So talk was was that, it Zeus Was a part of around kind your you here? Or it provide kind Can Was changed the you it something? of pumps? customers? If fleet

Jeffrey Miller

slightly. has a XXXX. Yes. David. months And manage to Look, been our XXXX, is actually expect down XXXX, in market in through we that falling XX we for were able outlook

It introduce create not immune be -- the think to ability marketplace. was efficiencies. pricing. in I we're was value our But the our Zeus. to It we was where clear, it to

as that, which there's so at of looking we're place high be, 'XX, about range. of think question of any high range. we're But we number no the great operate are don't I the look to a forward. a we at got end is know fleets We in the as at vacuum our terrific And visibility. And really end one. all We've contracted,

didn't is you're 'XX. plan The going change business with returns strategy. strategy in think our from solid see 'XX, our are so or to 'XX And And to the 'XX. stick I what in

John Anderson

more big continued topic be around being basically completion investors there. for there means topic do kind And a I the things to is efficiencies It's of So to one a E&Ps. out of the think that with deflationary story lot a -- of out it's less. able services, to

you're for offset it do Halliburton, is paid hand, through how of And enough is through these other get to a The efficiencies question lot auto the pumps, of your touch On had announced this frac. enabling these some kind of you these year? efficiencies? the you on those on announcement And you frac? if trends? recent deflationary And be you please Coterra would could of more to auto just expect with coming Zeus agreements

Jeffrey Miller

the -- David. efficiency, our Yes, clearly, want I be to edge that efficiency. we leading of the mean, at

that the would what doing ways, some outsized are leading opposite the in for argue And and you we I edge is with creating sense the value at us.

relative value. And basis the very pricing impact of in efficiency the the offsets in 'XX ability is quite and the achieve So to expect the frankly, to to is, to it of requires it driving that. clearly and pricing technology stability market muted more frankly, investment and that in XXXX create evolutions what I quite and more on creating for Halliburton equipment

technology we does. value are market, And type when a what in like I'm only a and not the marketplace, the example ultimately about our different look Clearly, pleased when of able great towards have precisely -- so look, that's where but think customers. is mean announcement things that. technology efficiency we we're are. that at very creating, think in with where conversation And to part I the efficiency and mean I Corterra we're and performance I I that's of pointed I with of recovery. the that -- sit

equipment. But to to a with to that products have answer the more there's something also respect dialogue typically about technology. not frac we're talk important with And people are our able around answer products achieve

real is in answers. not it this platform is, so And fact, just equipment, a frac delivering

me -- And into I so even ahead gives confidence look and XXXX. that's what as

more tool bit interventions in the see work we impact half expect other that a the up margins broadly, we relative and and to stabilize of than looks then as the half I second and think I then to XXXX, sales back but growth getting full softer to in things. C&P see little first firm also

differential look, in have So that I'm and for really that this confident the a technology we business driving Halliburton. is outcome

Operator

comes question Roger Fargo next Securities. Wells Our with from Read

Roger Read

of also should Halliburton Meaning, and follow gas productivity trends you not how asking your a about, been like needed up, Dave U.S. but ground. is comments ground, about positioned impressive, been that. to how as I'd just on lot if we more it's was for Jeff, below and above efficiency about can, have think

activity and how through for ultimately to in we areas, works you increase for as So think do you industry? the gas have that

Jeffrey Miller

Look, in across think that's Halliburton the mean and quickly. equipment, and meaningfully I shrinking equipment think have rather availability is effect point I at than talked to this about seen retired I we tightens demanded in of how even market, required we've it the broadly in time. And it work always or but from industry. we've market what's attrition spot at a

example, lot activity tightness gas think I for frac, we a in see of so And see up. as pick you'll

Roger Read

the consider Just that's more pressure was your you kind things us It's sure start about you What's or getting into where versus would reverse, kind margins company of do question, asking also one now things the go? returns worked -- for got right the another even when and obviously, worked where for pricing properly, way a get think about, where you've priced ask right advantaged into to for you Dave of But probably you And question situation you Halliburton? the equitable -- at theoretically for think of is shareholders. system. pricing what the get making do can to maybe expectations. today way to

Jeffrey Miller

pricing thought where in had right I move think the And we would of up margins even above were move Look, Yes. kind in been I expect the seeing, that can up. I've well always what that we market, XXXX.

likely more to than it And see in And lot we tightness think America, so the catalysts don't that. when move of about think North I are down. to a think I that takes I up

but I'm as are into quite don't have are that money and, groups assets. several gas in operators private as that well. so looking going the drive combination aware of assets getting And talk for market divested. to And we of back about, that's the the enough activity activity raised business

we're you the and place as it, a yes, outsized we changed is expect cycle we described expect at around are that. our we haven't to and paid where, pricing, so we that for And reality but in get not immune the to create value strategy that

Operator

comes Our America. with from Saurabh of Pant Bank next question

Saurabh Pant

on Jeff, really the growth on maybe intervention tech, unconventionals, about you and lift. X touch talked I want artificial It's then that engines your call, drilling to interesting.

a heard wrong, next, I think, the little color over bit, I'm opportunity? talk that which Jeff, X correct next couple said you think years. billion over those about $X X the growth Maybe I And are see think I to powerful additional the give us I years? on $X.X to if more you revenue to little in me which think, but billion you talking a most ones be engines of going to of the most you X

Jeffrey Miller

Well, all meaningful to going think them I impact. are of X have

Let's start with unconventionals.

we we that is and today growing. America. universal. technology leader technology global and also for That about the market demand that we better a same recovery see see for we're internationally, talked demand Just North And in

to U.S. I'd intervention. And again, area this where we've is developed And so also limited that's not about an talk certainly the technology.

We continue technology differentiated. to develop is that

example, overall later. see on that market dollars just sooner whole mechanical we'll of think about a power more And suite tools, we there's more focus rather than our talked And execution. but For see a where we quarter, last probably spent. coil we'll riserless of that's

that Halliburton. and for uniquely around And seen same in then it's there's Halliburton really closed-loop size in our we drilling we we technology ways, relative take outsized internationally. but America whether lot more drilling where technology, just as the doing upside our lift that growth internationally, leadership growth business grow that and offering, And given drilling a then got we've And see we've see for a automation. that's really some we're lot North

there's there. technology. I and a in wheelhouse again, of value right think to so do. suite And to real And created be great all I think positioned go they're well We're our have

Saurabh Pant

to question think the math Jeff. I'm right, all I numbers, guidance, Jeff, Mexico. Eric, right, have And be Mexico, then it's context, a low right, year-over-year. flat. but on said, the to maybe down a international the Great. I you No, understood XX% up digit, implies know like Mexico, right? I'm excluding if math, is that's mid-single And maybe I I you expect helpful including very rough If Mexico if don't doing right, doing your that

validate back you visibility expectation things exactly First the maybe thing, XXXX? for half kind And in you Do not Mexico what's we can the year? that Or to math? through any improve of do expect of the have there? then

Jeffrey Miller

is all and same team a is Look, of we what the say reset. that but that, hypercritical administration, to our in activity gas time, Mexico. our new of that and Mexico in I I bit and think for management the new oil is PEMEX see outlook today, economy at a

hard don't it's to imagine their through find one in great we And a market us, there. the position fantastic team the for have we as important a it's footing they so work Mexico, reasons me of year. And to have that we and

terms quite that will that's more of that past happens. footing. its finds in it's execute in And expect certainly around it it the but Halliburton PEMEX expect well confident I today, not so It I And will I clear again. timing in and as a has market. question I'm But think

Operator

Jayaram Our comes Arun from Securities. JPMorgan next question with

Arun Jayaram

a with to Auto to kind a give sense can Frac Could -- us question. I in be Jeff, talking maybe E&Ps understand have deployed configurations. service you the of we Octiv different David's follow-up that

now you it versus basis the stand-alone it's commercial I mentioned of the you So configurations with I service, model and if briefly was describe pair Sensori how And it could different a the maybe wondering on XX% about Sensori talk maybe think frac-monitoring your combining works. you do it because bit e-fleets. you just do little with it again running if a on

Jeffrey Miller

Yes, it fracking. the control perfect you gives over yes. Look, effectively,

Octiv is Auto Frac. this So

so is And is the what is can horsepower, what deliver because ability the to of control is deliver that designed. frac result fleet the it to designed. the And programmed

what before what of done in And that so is never something is precisely delivered. terms fact, I the think that in confidence is, been that's designed having is

an think sand product verify the again, effect, not sand is Sensori, then And to in answer an I MWD in of its had in it did hydraulic ability at It's where go? its the And never going inception. since different that's ways. too from fracturing some we've log where core. the is

the would want a drill MWD in why know log of well how ingredient not an Where wellbore that really bit solution? creating quite you since where not without the frankly, did part the went, that's to wouldn't the production. And and sand You is. is the go active only where of

together, And the so you created go the in did that, sand have think changed and the I wellbore. control because we you've that -- as sort when of now got the change the the delivered delivery, actually And design design, the know around where design, of can well. you verification

think I before. business that's helpful. never frac control we've in know I or to hope able is been this something the

Arun Jayaram

maybe pricing this Yes. commercial you're of And how service? the kind Just on model

Jeffrey Miller

It Yes, really stand-alone, not is, that's it's valuable -- it's frac going that. yes, solution. sure. yes, the and to for from into service it's I'm priced to going look, about all separate the here. get a I'm delivery say But details

Arun Jayaram

would in and in Fair enough. tied my some offshore was could your you to thoughts space international XXXX? you're if could thoughts year. I markets. how concerns XXXX, believe seeing industry-wide offshore second us what Obviously, it how on half XX% But some give business in follow-up, is offshore on the wondering I of Jeff, about of white revenues offshore. any fare trend

Jeffrey Miller

'XX We from from later 'XX unusual. even white in as activity see quite few business sort don't have get we hopper see the think market, we market into described. perspective, FIDs we you more what and space, of in our then beginning And to too not as well, even we look, are a rigs I is which see 'XX. strong offshore, early that so No, a that 'XX and into, move

obviously, part So to internationally that that solid offshore. growth and tied pipeline see, of we will be international of growth

And we'll so I fare look, think well.

be an important component going I save of think our that's Mexico. growth, international to

yes, time, occurs I wouldn't all the space so, because think. of that white about over sort I And worry

Operator

from Kurt question comes Benchmark. Hallead next Our with

Kurt Hallead

question megawatts chase, your to there had generation, screen, of related power participate? and out? Permian I of power you an had think to to of the buy how You some play And opportunity in go the related that's to for one radar smaller opportunity dynamics the is out Is a the to your respect with Cut not the Jeff? screen, at some power something the Basin. sale competitors Permian. basically on radar Halliburton that your plays that sell specifically in to And on if do right?

Jeffrey Miller

it's Certainly, we are front screen in seat. on we my row And VoltaGrid. today radar business with Yes. a have and that

that this And our we is would And the getting of what exposure the to a VoltaGrid. participation through in market, market fortunately, through investment that a and VoltaGrid sort is so in VoltaGrid like of solid. we do, business what which view And with lot. player as are we I describe a real

that tuned, to at largest consistent but far attractive and area our away that us the business aligned stay and we're that's And and Halliburton, very we and competencies that's with so, with is -- an core in today. invested in look, think player

Kurt Hallead

Appreciate Okay. That's color. that great.

over technologies a to Now already Just an for specific going generate color combination that technologies going or looking then products evolving. place incremental new evolution for adoption with and of both? on see time of that of of couple to sense give areas billion an it that say, is Halliburton billion adaptation the as you us bit $X you the $X.X those that? some maybe referenced continued be be to of well, as in Or incremental you little -- or to predicated of would and opportunity of you you is over see years, a with the next incremental, on how to follow-up focus. Can X revenue just

Jeffrey Miller

time, as the Yes. do M&A. Fair these drumbeat of in to continued introduction technology more and and be be along development continue of create We're that a these areas see to that doing enough. all bolt-on with integration And but that at and type will technology targeted I we spaces. of unique unique believe technology I

technology about of about to it's -- in technology a few of for the talked few so And at years. And deliveries development we've them. working been a we've talk We'll this space. sort continue

so us next in I we're opportunity years proposition both standpoint sort over technology will up positioned and to think that I technically that better of with are growth. the And today, think give we businesses to deliver X set to market. of a are but we're value the They from outsized X waves outgrow

Operator

next Our One. Doug with Capital Becker question from comes

Doug Becker

little seen recently. The than quarter a bit declined first revenue sharper we've

decline, regions gradual the just obvious. a of the which a of a Just you It will that the the granted like rather want over recovery see bump. revenue how to XQ of are color year the get you than rest And see course driving little on be it year. more some more sharp sounds those progression

Eric Carre

Doug. Yes,

in So division. the by take drivers you probably it look QX, I'll the trend from revenue It's behind if it clear for that at way perspective. a main reduction

On very the of activity some rollout land tool in in QX, that's of mix sales have the pickup around strong partially then seasonal C&P side, you it's world. completion America by offset the primarily North and

the side. So C&P that's on

direct And QX sales on in items the D&E of from biggest coming is a earlier. we impact Mexico, then we D&E had which the side, products. On discussed the strong of back particularly

well. East, as regions Middle was of in but Some it the in other

are these over main the drivers QX revenue So QX. change behind the

Doug Becker

Eric. you, And for one maybe another

in margin wanted Just more D&E to just up a Last margin operating color a hair, had little improvement the get year, very XXXX. on strong outlook.

year? it Is be last the introductions some versus good You've segment improvement product in traction. reasonable seem this D&E to that expect had margin year to getting some

Eric Carre

at I Yes. the D&E margins the basically flat. the I -- year think we're is fairly mean looking way for

it looking ZIP being overall. So how That's now. code as in about at in same the we're in D&E think as margins XXXX had we relative XXXX

Operator

Instructions] [Operator from question next Gengaro Stephen Stifel. Our with comes

Stephen Gengaro

brought question, but and increasing price power then concern kind the in the of of any any ways, gen generation that the me. for The Two the fleets. is with had know power cost question underlying out I impacts power pulled and And Kurt around alignment VoltaGrid, large one power up e-fleets, in of -- but your of I the know a oil kind patch how to power I for being frac there around business? the the to

Jeffrey Miller

consciously From that's that with not power will our stayed current that away from operators transaction terms or very because an place availability but and arm's business owning fleet, good we've VoltaGrid. do our contracting. for think an in in part Well, may fluctuate, we partly believe I length the contracting may of that of standpoint, own we're relationship a with the that own

feel mechanism. I that So availability quite in through confident of to power us the

I'm no, particularly of power. concerned price power so the really not availability, not about the And

that I entire is outsized. And the package the created the I is power valuable. value think by think that

align how based we strategically if think would we protected So as result, from early is And how a about from that think decisions we we're as will think on market about gone in a in standpoint, a good really Halliburton. power. place power power, around there I on be we've I tightness I made

Stephen Gengaro

and seeing XX% aligns curious what of of my your customer and follow-up, is we've customers, others. kind preference that mix. this maybe going as folks of customers frac talking electric assets? is over than at for XX%, from with respondents what I'm mix go of sort you're skewed dual as far fleets electric Great. And Kimberlite for as sort I'm electric, sort related preference forward Research probably versus over And the about the of versus of kind heard from sort is fuel different to, from how dual of fuel which with towards sort But the of this curious your you're to hearing that your mix of the

Jeffrey Miller

XXXX. for deliveries continued have we Look,

-- we'll deliveries deliveries that for have extending be planning the have. fleets suspect, we're and We we I XXXX,

confident am solution. set a substitution is the perspective dual fleet are the more important fuel sort and so and see in then Sensori, that obviously, becoming much frac value really the for as it's our they with really as And more cost from the auto and a demand And for quite -- important. platform increased I creation of we

Operator

I you. remarks. call Jeff would turn now for the like over Miller to to Thank any back closing

Jeffrey Miller

you, Thank Josh. Yes.

excited with up this. I'm the the both term close me and call we for As about the Halliburton. year wrap let today, long ahead

leading deliver $X.X at in committed speaking least to expect revenue our flow, with all results and of portfolio We We you. and and deepen differentiated cash to XXXX. forward growth a of value proposition, engines. return look incremental I this prioritizing execute billion next expect to Thank you our our in of through technology cash I'm quarter.

Operator

for concludes participation. your This Thank you Thank the you. conference.

disconnect. now may You

Halliburton (HAL) 22 Jan 252024 Q4 Earnings call transcript