Halliburton Company (NYSE:HAL) reported higher profit for the fourth quarter as revenue showed growth. Net income for the oil and gas equipment and services company rose to $906 million (98 cents per share) vs. $605 million (66 cents per share) in the same quarter a year earlier. This marks a rise of 49.8% from the year earlier quarter. Revenue rose 36.9% to $7.06 billion from the year earlier quarter. HAL reported adjusted net income of $1 per share. By that measure, the company beat the mean estimate of 99 cents per share. It beat the average revenue estimate of $6.83 billion.

Dave Lesar, chairman, president, and chief executive officer said, “I am very pleased with our fourth quarter and full year 2011 results, which set records for revenue and operating income. For the full year, we delivered record revenue for both of our business segments and three of our four geographies. During 2011, we continued to execute our growth strategy in North America while expanding our presence in key emerging international markets. Overall, we were able to deliver on our goals of superior growth, margins, and returns while strengthening our position for future growth.”

Competitors to Watch: Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited. (NYSE:SLB), Weatherford Intl. Ltd. (NYSE:WFT), Cameron Intl. Corp. (NYSE:CAM), Complete Production Services, Inc. (NYSE:CPX), TETRA Technologies, Inc. (NYSE:TTI), RPC, Inc. (NYSE:RES), Helix Energy Solutions Group Inc. (NYSE:HLX), Oceaneering International (NYSE:OII), and National-Oilwell Varco, Inc. (NYSE:NOV).

CSX Corporation (NYSE:CSX) reported its results for the fourth quarter. Net income for CSX Corporation rose to $457 million (43 cents per share) vs. $430 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 6.3% from the year earlier quarter. Revenue rose 4.8% to $2.95 billion from the year earlier quarter. CSX fell short of the mean analyst estimate of 44 cents per share. Analysts were expecting revenue of $2.99 billion.

“CSX once again delivered record earnings per share while investing in resources to support high customer service levels and growth in the near- and long-term,” said Michael J. Ward, chairman, president and chief executive officer. “Our performance in 2011 has set a strong foundation for growth, and CSX remains committed to achieving a 65 percent operating ratio by no later than 2015.”

Competitors to Watch: Norfolk Southern Corp. (NYSE:NSC), Union Pacific Corporation (NYSE:UNP), Kansas City Southern (NYSE:KSU), Genesee & Wyoming Inc. (NYSE:GWR), Providence & Worcester Railroad Co. (NASDAQ:PWX), Canadian National Railway (NYSE:CNI), Canadian Pacific Railway Ltd. (NYSE:CP).

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