Halliburton Co (HAL) Q4 2019 Earnings Call Transcript

Halliburton Co (HAL) Q4 2019 Earnings Call Transcript

Good morning, and welcome to the Halliburton fourth quarter 2019 conference call.. 2019 solidified the pivot from growth to capital discipline in North America and marked another step on the road to recovery in the international markets.. We delivered over $900 million of free cash flow for the full year, demonstrating our ability to generate consistent free cash flow throughout different business environments.. 2019 was an exceptional year for our safety and service quality performance.. We finished the quarter with total company revenue of $5.2 billion, a 6% sequential decrease and adjusted operating income of $546 million, an increase of 2% quarter-over-quarter.. While our North America business declined due to the significantly lower activity in US land, internationally we delivered 10% revenue growth this quarter.. In the fourth quarter, we took a $2.2 billion largely non-cash impairment charge and made strategic decisions to market for sale our pipeline services and well controlled product lines.. All regions increased revenue led by Asia-Pacific, Latin America and Europe.. We have the right footprint and an enhanced technology portfolio to compete and win across the international markets.. We expect to grow at or above the market rate this year, consistently focusing on profitable growth