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HALLIBURTON Halliburton Announces First Quarter 2021 Results April 21 , 2021 • Net income of $ 0.19 per diluted share • Cash flow from operating activities of $ 203 million and free cash flow of $ 157 million HOUSTON -- ( BUSINESS WIRE ) -- Apr . 21 , 2021-- Halliburton Company ( NYSE : HAL ) announced today net income of $ 170 million , or $ 0.19 per diluted share , for the first quarter of 2021. This compares to a net loss for the fourth quarter of 2020 of $ 235 million , or $ 0.27 per diluted share , as well as adjusted net income for the fourth quarter of 2020 , excluding impairments and other charges , of $ 160 million , or $ 0.18 per diluted share . Reported operating income was $ 370 million in the first quarter of 2021 compared to reported operating loss of $ 96 million and adjusted operating income of $ 350 million in the fourth quarter of 2020 , excluding impairments and other charges . " I am pleased with our first quarter performance , which demonstrates the benefits of our strong operating leverage in a recovering global market . We achieved total company revenue of $ 3.5 billion and operating income of $ 370 million , representing increases of 7 % and 6 % , respectively , compared to revenue and adjusted operating income in the prior quarter , " commented Jeff Miller , Chairman , President and CEO . " The first quarter marked an activity inflection for the international markets , while North America continued to stage a healthy recovery . I expect international activity growth to accelerate , and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year . " Our free cash flow performance in the first quarter was a great first step to delivering strong free cash flow for the full year . It demonstrates our margin progression and focus on managing all aspects of capital efficiency , including technological advancements , process improvements , and working capital efficiencies . " I am optimistic about how this transition year is shaping up . Our focus on technology innovation , digital investments , and capital efficiency positions us for profitable growth internationally and maximizing value in North America . Halliburton will continue to execute our key strategic priorities to deliver industry - leading returns and solid free cash flow as the multi - year recovery unfolds , " concluded Miller . Operating Segments Completion and Production Completion and Production revenue in the first quarter of 2021 was $ 1.9 billion , an increase of $ 60 million , or 3 % , when compared to the fourth quarter of 2020 , while operating income was $ 252 million , a decrease of $ 30 million , or 11 % . The increase in revenue was driven by higher stimulation and artificial lift activity in North America , higher cementing activity in the North Sea , improved stimulation activity in Argentina and Mexico , and higher completion tools sales in Latin America . This increase was partially offset by lower cementing services in Russia , lower pressure pumping activity in the Middle East , reduced seasonal completion tools sales , and lower well intervention services in the Eastern Hemisphere . Operating income was negatively impacted primarily by decreased completion tools sales , as well as reduced pressure pumping activity in the Eastern Hemisphere . Drilling and Evaluation Drilling and Evaluation revenue in the first quarter of 2021 was $ 1.6 billion , an increase of $ 154 million , or 11 % , when compared to the fourth quarter of 2020 , while operating income was $ 171 million , an increase of $ 54 million , or 46 % . These increases were primarily due to higher software sales globally , improved drilling - related services and wireline activity in the Western Hemisphere and Norway , and increased project management activity internationally , which were partially offset by lower drilling - related services in Asia . Geographic Regions North America North America revenue in the first quarter of 2021 was $ 1.4 billion , a 13 % increase when compared to the fourth quarter of 2020. This increase was driven by higher drilling - related services , stimulation , and artificial lift activity in North America land , as well as higher wireline activity and software sales in North America land and the Gulf of Mexico . Partially offsetting these increases were reduced completion tools sales and lower cementing and fluids activity in the Gulf of Mexico . International International revenue in the first quarter of 2021 was $ 2 billion , a 2 % increase when compared to the fourth quarter of 2020. This improvement was driven by higher activity across multiple product service lines in Latin America and the North Sea , coupled with increased software sales and project management activity internationally . Partially offsetting these increases were lower completion tools sales , reduced well intervention services in the Eastern Hemisphere , lower stimulation activity in the Middle East , reduced cementing activity in Russia , and lower drilling - related services in Asia . Latin America revenue in the first quarter of 2021 was $ 535 million , a 26 % increase sequentially , resulting primarily from increased activity in multiple product service lines in Argentina and Mexico , as well as higher fluid services in the Caribbean . Partially offsetting these improvements was reduced activity across multiple product service lines in Colombia . Europe / Africa / CIS revenue in the first quarter of 2021 was $ 634 million , a 1 % decrease sequentially , resulting primarily from reduced completion tools sales and well intervention services across the region , coupled with lower activity in Russia and lower fluid services in Kazakhstan . These decreases were partially offset by higher well construction activity in the North Sea and increased software sales across the region . Middle East / Asia revenue in the first quarter of 2021 was $ 878 million , a 6 % decrease sequentially , largely resulting from lower stimulation and well