Halliburton’s Revenue by Segment (2016-2021)

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This statistic highlights Halliburton’s Revenue by Segment from Q1 2016 onwards, split across Products sales and services segments, reported on a quarterly basis.
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This statistic highlights Halliburton’s Revenue by Segment from Q1 2016 onwards, split across Products sales and services segments, reported on a quarterly basis.

The Halliburton Company is an American multinational corporation. The company’s principal business is Energy Services Group (ESG). The company provides a huge range of products and services to upstream oil and gas to customers around the world. It has hundreds of subsidiaries, affiliates, brands, and departments around the world and employs approximately 55,000 people. The company’s headquarters are situated in Houston and Dubai and it continues to be incorporated in the United States.

Halliburton’s Revenue by Segment

Revenue by Segment Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Product Sales $0.907 $1.02 $1.06 33.76%
Services $2.07 $2.68 $2.08 66.24%
Total $2.97 $3.70 $3.14 100%

(All figures in billions, except percentages)

Halliburton’s total revenue rose from $2.97 billion in Q3 2020 to $3.14 billion in Q3 2021, marking a 5.72% incline on a year-on-year basis. It declined by 15.13% on a quarter-on-quarter basis, as compared to $3.70 billion earned in Q2 2021. Majority of Halliburton’s revenue was generated from its services segment, accounting for about 66.24% of the total revenue in Q3 2021.

Halliburton revenue is further bifurcated into the following segments:

Product Sales

The company is involved in serving the upstream oil and gas industry throughout the lifecycle of the reservoir. Halliburton comprises 13 product service lines (PSLs). The PSLs function in two divisions, particularly completion & production, and drilling & evaluation. Their Consulting and Project Management PSL works across both divisions and is the point of their integrated-services strategy. PSLs are normally accountable and chargeable for strategy, generation development, procedure development, human development, and capital allocation.

In Q3 2021, Halliburton’s revenue from product sales stood at $1.06 billion. It inclined by 16.86% on a year-on-year basis, as compared to $907 million earned in Q3 2020.  It inclined by 3.92% on a quarter-on-quarter basis, as compared to $1.02 billion earned in Q2 2021. Halliburton’s product sales segment contributes 33.76% to the company’s total revenue in Q3 2021.

Services

Wide range of upstream oil and gas are provided to customers around the world through 14 product service lines: artificial lifts, cement, finished tools, multi-schemes, pipelines, process services, production enhancements, production solutions, baroids, and drills. Their services also extend to Bits & Services, Landmark Software & Services, Sperry Drilling, Testing & Subsea, Wireline & Perforating, Consulting & Project Management. KBR, a former subsidiary of Halliburton, is a major contractor for refineries, oil fields, pipelines, and chemical plants.

The majority of Halliburton revenue is generated through the Services segment, accounting for 66.24% of the company’s revenue in Q3 2021, amounting to $2.08 billion. It declined by 22.38% on a quarter-on-quarter basis, as compared to $2.68 billion earned in Q2 2021. It witnessed a slight incline of 0.48% on a year-on-year basis, as compared to $2.07 billion in Q3 2020.

About Halliburton Inc.

Founded in 1919 by Erle P. Halliburton, Halliburton Inc is one of the world’s biggest companies of services and products to the power industry. For decades, the company is involved in the provision of products and services serving the ever-changing needs of the energy industry. With more than 75,000 employees, representing one hundred forty nationalities in about eighty countries, the agency serves the upstream oil and fuel line enterprise for the duration of the lifecycle of the reservoir.They combine technology, service, and implementation expertise to help their customers with hydrocarbon location, geological data management, drilling, and formation assessment, well construction and completion, and optimize production performance throughout the life of their assets. Halliburton helps energy companies increase their value throughout the reservoir’s lifecycle, from exploration to well construction and completion, to production optimization and business execution.

The company’s major business segments are bifurcated into energy services, digital and consulting services, production volume optimization, formation evaluation and fluid systems. The company’s segments prove to be profitable and are also one of the biggest global players in these service industries. The agency additionally gives quite a few services and products to upstream oil and fuel line clients global via fourteen product carrier lines. The common stock of the company is listed on the New York Stock Exchange under the symbol “HAL” and is also a component of the S&P 500.

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