Halliburton (NYSE: HAL) reported Q4 EPS of $0.32, $0.02 better than the analyst estimate of $0.30. Revenue for the quarter came in at $5.19 billion versus the consensus estimate of $5.12 billion.

“In 2020, we expect our international growth to continue. Increased activity, disciplined capital allocation, pricing improvements, and our ability to compete for a larger share of high-margin services should lead to improvement in our international margins in 2020.

“Our North America revenue decreased 21% sequentially in the fourth quarter and 18% for the full year as a result of reduced customer activity and pricing, and our decision to focus on returns over growth. We took swift actions in the fourth quarter making structural changes to adjust to the current market environment.

“While we expect customer spending in North America to be down again this year, we will continue executing our playbook, implementing our service delivery improvement strategy, and focusing on maximizing our returns.

“2020 opens a new decade and a new century for Halliburton. We will continue to focus on delivering margin expansion, industry-leading returns and strong free cash flow,” concluded Miller.

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