Halliburton Company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenue of $5,940 million compared to $4,021 million a year ago. Total operating income was $379 million compared to $53 million a year ago. Income from continuing operations before income taxes was $244 million compared to loss from continuing operations before income taxes of $175 million a year ago. Net loss attributable to company was $824 million or $0.92 per basic and diluted share compared to $149 million or $0.17 per basic and diluted share a year ago. Adjusted income from continuing operations attributable to company was $462 million or $0.53 per diluted share compared to $35 million or $0.04 per diluted share a year ago. The company generated approximately $440 million of cash in the quarter, improving its cash position at year-end to $2.4 billion. The increase in cash was partly due to strong cash flows from operations, which included working capital improvements, and continued disciplined capital spending.

For the year, the company reported total revenue of $20,620 million compared to $15,887 million a year ago. Total operating income was $1,362 million compared to total operating loss of $6,778 million a year ago. Income from continuing operations before income taxes was $682 million compared to loss from continuing operations before income taxes of $7,625 million a year ago. Net loss attributable to company was $463 million or $0.51 per basic and diluted share compared to $5,763 million or $6.69 per basic and diluted share a year ago. Total cash flows provided by operating activities were $2,468 million compared to total cash flows used in operating activities of $1,703 million a year ago. Capital expenditures were $1,373 million compared to $798 million a year ago. Adjusted income from continuing operations attributable to company was $1,062 million or $1.22 per diluted share compared to adjusted loss from continuing operations attributable to company of $16 million or $0.02 per diluted share a year ago.

For the first quarter of 2018, the company expects its net interest expense to be approximately $140 million as it will no longer accrete the value of its promissory note in Venezuela. The company expects its 2018 full year and first quarter effective tax rate to be approximately 23%, based on its expected geographic earnings mix.

The company expects capital expenditures to be approximately in line with its depreciation and amortization expense in 2018. This CapEx guidance includes the deployment of new Sperry Drilling tools and the continued investment in its Artificial Lift and production chemical product lines and pressure pumping fleet.