Halliburton Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2015; Provides Earnings Guidance for the First Quarter and Full Year of 2016
For the year, the company reported total revenue of $23,633 million against $32,870 million a year ago. Total operating loss was $165 million against total operating income of $5,097 million a year ago. Loss from continuing operations before income taxes was $936 million against income from continuing operations before income taxes of $4,712 million a year ago. Loss from continuing operations was $662 million against income from continuing operations of $3,437 million a year ago. Net loss was $667 million against net income of $3,501 million a year ago. Net loss attributable to company was $671 million against net income attributable to company of $3,500 million a year ago. Diluted loss per share attributable to company shareholders from continuing operations was $0.78 against diluted income per share attributable to company shareholders from continuing operations of $4.03 per share a year ago. Net loss per share was $0.79 against net income per share of $4.13 per share a year ago. Total cash flows from operating activities were $2,906,000 against $4,062,000 a year ago. Capital expenditures were $2,184,000 against $3,283,000 a year ago. Adjusted income from continuing operations attributable to company was $1,332 million against $3,421 million a year ago. Adjusted operating income was $2,320 million against $5,048 million a year ago. Adjusted income from continuing operations per diluted share was $1.56 against $4.02 per share a year ago. All regions experienced revenue declines during the quarter, led by North America as a result of continued activity and pricing headwinds. For international business, fourth quarter revenue and operating income declined by 5% and 10%, respectively, as a result of price concessions and activity declines with customers during the quarter. Additionally, due to customer budget constraints, the company did not see the typical benefit from year-end equipment and software sales.
For the fourth quarter ended December 31, 2015, the company reported fixed asset impairments of $112 million against $47 million a year ago. Intangible asset impairments was $3 million against $10 million a year ago.
For 2016, the company is expecting the first quarter and full year effective tax rates to be approximately 24% to 25%. Current guidance for 2016 capital expenditures is $1.6 billion.