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Halliburton said on Monday that it booked a $149 million loss in the fourth quarter of 2016.

The Houston-based company reported a loss from continuing operations of $149 million, or $0.17 per diluted share, for the fourth quarter compared to a loss of $28 million in the year-ago period.

Adjusted income from continuing operations for the fourth quarter of 2016, excluding impairments, other charges and a class action lawsuit settlement, was $35 million compared to $6 million in the third quarter.

Total fourth quarter operating income fell to $53 million compared to $86 million in the fourth quarter of 2015.

Total fourth quarter revenue rose 5 percent sequentially to $4 billion in the fourth quarter.

Adjusted operating income for the fourth quarter rose to $276 million, compared $128 million for the third quarter .

Total revenue for the full year of 2016 fell 33 percent year-over-year to $15.9 billion.

Reported operating loss for the full year of 2016 was $6.8 billion, compared to reported operating loss of $165 million for 2015.

Excluding special items, adjusted operating income for 2016 was $690 million, compared to adjusted operating income of $2.3 billion for 2015.

Halliburton said that both revenue and operating results declined “due to the impact of lower commodity prices creating widespread pricing pressure and activity reductions on a global basis.”

Fourth quarter North America revenue rose 9 percent sequentially to $1.8 billion relative to a 23 percent average rig count boost.

The company’s North America operating results improved by $94 million, from a loss of $66 million in the third quarter to an income of $28 million in the fourth quarter.

Halliburton said the income boost was primarily driven by increased pricing and utilization throughout the United States land sector and effective cost management.

International revenue in the fourth quarter ticked up 2 percent sequentially to $2.2 billion.

International fourth quarter operating income was $305 million, a 27 percent jump compared to the third quarter.

Latin America revenue in the fourth quarter of 2016 rose 3 percent from the third quarter to $428 million.

Latin American operating income climbed $19 million from the third quarter to $30 million in the fourth quarter.

Europe/Africa/CIS revenue in the fourth quarter of 2016 fell to $676 million, a 9 percent decline compared to the third quarter.

Europe/Africa/CIS operating income fell 5 percent sequentially to $72 million in the fourth quarter.

Halliburton said the sequential income dip was primarily driven by weather-related reduced activity in the North Sea and Russia that were partially offset by improved activity in Nigeria and Egypt.

Middle East/Asia revenue climbed to $1.1 billion in the fourth quarter, a 10 percent increase from the third quarter.

Middle East/Asia operating income jumped 32 percent sequentially to $203 million in the fourth quarter.

Completion and Production revenue rose 4 percent sequentially to $2.3 billion in the fourth quarter.

Completion and Production operating income jumped to $85 million in the fourth quarter, a $61 million improvement from the previous quarter.

Drilling and Evaluation revenue increased by 6 percent from the previous quarter to $1.8 billion in the fourth quarter.

Drilling and Evaluation operating income surged 64 percent sequentially to $248 million.

Halliburton said the Drilling and Evaluation improvements were driven by year-end software sales, improved drilling activity in U.S. land, increased Consulting and Project Management activity in Sub Saharan Africa and the Middle East and improved testing and subsea activity internationally.

Halliburton CEO and chairman David Lesar said that, while there is a lot of “positive sentiment surrounding the North American land market,” the downward cycle in the international market remains is still “playing out.”

“In the international markets, low commodity prices have stressed budgets and have impacted economics across deepwater and mature field markets, which led to decreased activity and pricing throughout 2016….We do not expect to see an inflection in the international markets until the latter half of 2017,” Lesar added.