Halliburton (HAL) FY2018 results: revenue $24.0 billion, up 16.4% on the year
Halliburton Co. (HAL) reported revenue of $24.0 billion for fiscal 2018, the year ended 31 December 2018, up 16.4% on the year before. Net income was $1.7 billion, and diluted earnings per share $1.89. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$24.0 billion
+16.4% on the year
FY2011FY2018
Operating margin
10.3%
6.7% a year earlier
FY2011FY2018
Net income
$1.7 billion
FY2011FY2018
Diluted EPS
$1.89
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
23,995
20,620
15,887
+16.4%
Cost of revenue
21,009
18,355
15,023
+14.5%
Gross profit
2,986
2,265
864
+31.8%
Gross margin
12.4%
11.0%
5.4%
Research and development
390
360
329
+8.3%
Operating income
2,467
1,374
-6,778
+79.5%
Operating margin
10.3%
6.7%
-42.7%
Interest expense
554
593
639
-6.6%
Pre-tax income
1,814
682
-7,625
+166.0%
Income tax
157
1,131
-1,858
-86.1%
Effective tax rate
8.7%
165.8%
n/a
Net income
1,656
-463
-5,763
Net margin
6.9%
-2.2%
-36.3%
Diluted EPS
$1.89
-$0.53
-$6.69
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3,157
2,468
-1,703
+27.9%
Capital expenditure
2,026
1,373
798
+47.6%
Free cash flow
1,131
1,095
-2,501
+3.3%
Free cash flow margin
4.7%
5.3%
-15.7%
Cash from investing
-1,993
-1,927
-710
Cash from financing
-1,419
-2,161
-3,540
Depreciation and amortisation
1,606
1,556
1,503
+3.2%
Buybacks
400
0.0
0.0
Dividends paid
630
626
620
+0.6%
Dividend per share
$0.72
$0.72
$0.72
0.0%
Diluted shares, weighted
877m
870m
861m
+0.8%
Shares outstanding at period end
871m
873m
866m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
9,522
8,322
9,409
+14.4%
Non-controlling interest
22.0
27.0
39.0
-18.5%
Debt
10,457
10,942
12,384
-4.4%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
5,981
5,794
5,168
+3.2%
Total liabilities and equity
25,982
25,085
27,000
+3.6%
Fixed assets
8,873
8,521
8,532
+4.1%
Goodwill
2,825
2,693
2,414
+4.9%
Cash and equivalents
2,008
2,337
4,009
-14.1%
Receivables
5,234
5,036
3,922
+3.9%
Inventory
3,028
2,396
2,275
+26.4%
Other assets
4,014
4,102
5,848
-2.1%
Total assets
25,982
25,085
27,000
+3.6%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.