Halliburton Co., the world’s second-largest oilfield service provider, reported a loss of $825 million, or a loss of $0.94 per share in the fourth quarter of 2017, after a loss of $153 million, or a loss of $0.17 per share, in the year-earlier period.
The loss increased due to an aggregate $882 million of non-cash discrete tax charges associated with the US tax reform.
In addition, the company booked aggregate charge of $385 million due to delayed payments from its customers in Venezuela.
According to the press release, adjusted income from continuing operations was $462 million, or $0.53 cents per share, above analysts’ consensus of $0.46 per share.
Halliburton's fourth-quarter revenue increased to $5.9 billion from $4 billion in the year-ago quarter. Full year revenue for 2017 was $20.6 billion, an increase of $4.7 billion from 2016.
The company’s revenue from North America rose to $3.4 billion from $1.8 billion a year earlier. Revenue from overseas operations more than doubled to $2.54 billion.
Total revenue for the full year of 2017 was $20.6 billion, an increase of 30% from 2016. Operating income for 2017 was $1.4 billion, compared to operating loss of $6.8 billion in 2016.
Excluding special items, adjusted operating income for 2017 was $2 billion, a three-fold improvement from adjusted operating income of $690 million a year before.
