Halliburton's 2024 Performance: Contrasting Growth in International Markets and Challenges in North America

Halliburton's Financial Performance:
- Halliburton delivered full year total company revenue of $22.9 billion in 2024, with international business growing for the fourth year in a row with a 6% year-over-year increase.
- The growth was supported by a 8% increase in the Middle East/Asia region, driven by strong demand and strategic investments in technology and services.

North America Challenges and Strategic Focus:
- North America revenue declined by 8% year-over-year, despite outperforming the rig count and completion activity.
- The company maintained its focus on technology innovation and collaboration to improve efficiency and productivity, with a strategic focus on directional drilling and unconventional resources.

Mexico's Impact on International Revenue:
- International revenue is expected to remain flat in 2025 due to a reduction in activity in Mexico, which is anticipated to see a 25% year-over-year decrease.
- The decline is attributed to a new administration and activity reset in Mexico, though Halliburton expects to perform well due to its market position and strong team presence.

Technology-driven Growth Engines:
- Halliburton anticipates collectively generating an additional $2.5 billion to $3 billion in annual revenue over the next three to five years through growth engines in drilling technologies, unconventionals, well intervention, and artificial lift.
- This is supported by the adoption of innovative technologies and customer collaborations, which enhance operational efficiency and productivity.