Halliburton (HAL) reported $5.51 billion in revenue for the quarter ended June 2025, representing a year-over-year decline of 5.5%. EPS of $0.55 for the same period compares to $0.80 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.44 billion, representing a surprise of +1.35%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.55.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission File Number 001-03492 HALLIBURTON COMPANY (Exact name of registrant as specified in its charter) Delaware 75-2677995 (State or other jurisdict ...

Halliburton (HAL -0.11%), one of the world’s largest oilfield services providers, released its results for the second quarter of fiscal 2025 on July 22, 2025. The main news from the report was a revenue beat, with the company posting $5.51 billion in GAAP revenue for Q2 2025—1.7% above expectations. Adjusted earnings per share (EPS) landed at $0.55, almost exactly matching consensus. However, the quarter highlighted fresh margin pressures and signaled a more cautious outlook for the oilfield services market ...

Market Overview - The market capitalization of major US stocks shows varied performance, with Oracle at 762.30 billion, Mastercard at 321.36 billion, and Visa at 770.15 billion, reflecting increases of +0.66%, +0.86%, and +0.68% respectively [3] - Exxon Mobil's market cap is 679.53 billion, with a slight decrease of -0.98%, while Johnson & Johnson and Netflix show minor changes of -0.08% and -0.05% respectively [3] - Companies like Wells Fargo and Cisco have market caps of 270.15 billion and 279.59 billion, with respective increases of +0.98% and -0.58% [3] Notable Stock Movements - T-Mobile US Inc experienced a significant increase of +6.20%, reaching a market cap of 272.19 billion [3] - General Electric and Coca-Cola saw market caps of 285.05 billion and 298.76 billion, with increases of +0.37% and +0.91% respectively [3] - Companies like Disney and Goldman Sachs have market caps of 229.06 billion and 221.80 billion, with slight changes of +0.01% and -0.60% [3] Sector Performance - The technology sector shows mixed results, with Intel at 991.05 billion, down -3.28%, while AMD increased by +2.46% to 254.92 billion [5] - The consumer goods sector is represented by companies like Procter & Gamble and Coca-Cola, with market caps of 371.68 billion and 298.76 billion, showing slight increases [3][4] - The energy sector, represented by Exxon Mobil and Chevron, shows varied performance, with Exxon down -0.98% and Chevron up +0.66% [3] Summary of Key Companies - Oracle's market cap stands at 762.30 billion, reflecting a positive trend [3] - Mastercard and Visa show strong performance with market caps of 321.36 billion and 770.15 billion, both increasing [3] - Companies like Pfizer and Comcast have market caps of 1579.81 billion and 1332.00 billion, with Pfizer showing minimal change and Comcast down -3.16% [4][5]

Halliburton is idling some oilfield equipment in response to deteriorating demand among shale companies https://t.co/5nEhNi71vY ...

Key Takeaways HAL posted Q2 adjusted EPS of $0.55, matching estimates but down from $0.80 a year ago. Revenue of $5.5B beat forecasts by 1.1% despite a 5.5% year-over-year decline. International growth offset North American weakness, aided by global demand for drilling and completion tools.Halliburton Company (HAL) reported second-quarter 2025 adjusted net income per share of 55 cents, the same as the Zacks Consensus Estimate but below the year-ago quarter’s profit of 80 cents (adjusted). The numbers refl ...

Financial Data and Key Metrics Changes - The reported net income per diluted share for Q2 2025 was $0.55, with total company revenue of $5.5 billion, reflecting a 2% increase compared to Q1 2025 [19] - Operating income was $727 million, with an operating margin of 13% [19] - Cash flow from operations was $896 million, and free cash flow was $582 million [19] Business Line Data and Key Metrics Changes - Completion and Production division revenue for Q2 was $3.2 billion, a 2% increase from Q1, but operating income decreased by 3% to $513 million [20] - Drilling and Evaluation division revenue also increased by 2% to $2.3 billion, but operating income decreased by 11% to $312 million [21] Market Data and Key Metrics Changes - International revenue for Q2 was $3.3 billion, showing a 2% sequential growth, with notable increases in Latin America and Europe Africa [9] - North America revenue remained flat at $2.3 billion, with seasonal improvements offset by lower service pricing and reduced artificial lift activity [13] Company Strategy and Development Direction - The company plans to align its business with current market conditions by reducing costs and reallocating underperforming assets [26] - Halliburton aims to focus on growth engines such as unconventionals, drilling, production services, and artificial lift, which are seen as key to its international strategy [9][12] Management's Comments on Operating Environment and Future Outlook - Management noted that the oilfield services market is expected to be softer than previously anticipated due to reduced activity and lower discretionary spending in international markets [6] - The company remains confident in its future, emphasizing its differentiated technology and collaborative approach to maximize asset value for customers [18] Other Important Information - The company expects international artificial lift revenue to grow over 20% this year and plans to double the installed base of its remote operations and automation platform [13] - Capital expenditures for Q2 were $354 million, with expectations to be about 6% of revenue for the full year [25] Q&A Session Summary Question: C and P margins were softer in the quarter; what are the contributing factors? - Management explained that the softness was due to lower pricing for stimulation services in the U.S. and reduced activity in Saudi Arabia, with expectations for a 1% to 3% revenue decline in Q3 [30][32] Question: What is the outlook for customer activity in North America? - Management indicated that customers are cautious and focused on conserving cash, with expectations for activity to pick up earlier in 2026 but not until there are catalysts for change [35][36] Question: How is Halliburton positioned in the unconventional market, particularly in the Middle East? - Management expressed confidence in their positioning and noted ongoing work in the UAE, emphasizing a disciplined approach to bidding based on returns [56][57] Question: What is the impact of tariffs on the artificial lift market? - Management acknowledged that tariffs have affected the U.S. land artificial lift market, with efforts underway to adjust the supply chain [105] Question: What is the expected performance in Mexico and Kuwait? - Management noted solid growth expectations in Kuwait, while Mexico's performance remains uncertain due to ongoing issues [108]

Financial Data and Key Metrics Changes - The reported net income per diluted share for Q2 2025 was $0.55, with total company revenue of $5.5 billion, reflecting a 2% increase compared to Q1 2025 [19] - Operating income was $727 million, with an operating margin of 13% [19] - Cash flow from operations was $896 million, and free cash flow was $582 million [19] Business Line Data and Key Metrics Changes - In the Completion and Production division, Q2 revenue was $3.2 billion, a 2% increase from Q1 2025, but operating income decreased by 3% to $513 million [20] - The Drilling and Evaluation division reported Q2 revenue of $2.3 billion, also a 2% increase from Q1 2025, but operating income decreased by 11% to $312 million [21] Market Data and Key Metrics Changes - International revenue for Q2 was $3.3 billion, showing a 2% sequential growth, with notable increases in Latin America and Europe Africa, while Saudi Arabia experienced a reduction in activity [8][22] - North America revenue remained flat at $2.3 billion compared to Q1 2025, with seasonal improvements offset by lower service pricing and reduced artificial lift activity [13][14] Company Strategy and Development Direction - The company plans to align its business with current market conditions by reducing costs and reallocating underperforming assets [27] - Key growth engines identified include unconventionals, drilling, production services, and artificial lift, with a focus on technology and operational excellence [9][27] Management's Comments on Operating Environment and Future Outlook - Management noted that the oilfield services market is expected to be softer than previously anticipated due to reduced activity and lower discretionary spending in international markets [5] - The company remains confident in its strategic execution and believes it is well-positioned to deliver industry-leading returns despite near-term challenges [6][18] Other Important Information - Capital expenditures for Q2 were $354 million, with expectations for full-year capital expenditures to be about 6% of revenue [25] - The company anticipates a negative impact from tariffs of approximately $35 million in Q3 2025 [26] Q&A Session Summary Question: About C and P margins and guidance for Q3 - Management explained that softer margins were due to reduced activity in Saudi Arabia and pricing headwinds in U.S. Land, with expectations for a 1% to 3% revenue decline in Q3 [30][31][32] Question: Customer conversations regarding North American frac business - Management indicated that customers are cautious and focused on technology and service quality, with expectations for activity to pick up in early 2026 [34][35] Question: Current state of E&Ps and pricing dynamics - Management discussed the importance of supply and demand fundamentals, noting that they will not work at uneconomic levels and will strategically stack fleets as necessary [40][45] Question: Unconventional market opportunities - Management highlighted growth potential in Argentina and Saudi Arabia, with expectations for continued double-digit growth in international frac business [48][50] Question: Cost structure and margin protection - Management emphasized the need to variabilize costs and maintain efficiency, targeting a reduction in costs as activity slows down [76][78] Question: Impact of tariffs on artificial lift market - Management confirmed that tariffs are affecting the U.S. land artificial lift market, while international demand is driven by technology in conventional wells [104][105] Question: Outlook for Mexico and Kuwait - Management expressed optimism for growth in Kuwait, while noting that issues in Mexico remain unsettled, leading to a cautious outlook [107][108]

Halliburton Q2 2025 Earnings Release [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Halliburton reported Q2 2025 net income of $472 million on $5.5 billion revenue, with $896 million operating cash flow and $250 million stock repurchases Q2 2025 vs Q1 2025 Financial Performance (in millions) | Metric | Q2 2025 | Q1 2025 (GAAP) | Q1 2025 (Adjusted) | | :--- | :--- | :--- | :--- | | Total Revenue | $5,500 | $5,400 | $5,400 | | Operating Income | $727 | $431 | $787 | | Net Income | $472 | $204 | $517 | | Diluted EPS | $0.55 | $0.24 | $0.60 | - In Q2 2025, the company generated cash flow from operations of **$896 million** and free cash flow of approximately **$582 million**[7](index=7&type=chunk) - The company repurchased approximately **$250 million** of its common stock during the second quarter[7](index=7&type=chunk)[18](index=18&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management expects a softer oilfield services market but reaffirms shareholder returns and confidence in international strategy - The oilfield services market is anticipated to be softer than previously expected in the short to medium term[4](index=4&type=chunk) - The company remains fully committed to its shareholder returns framework despite near-term market softness[4](index=4&type=chunk) - Management is confident in its international strategy, with growth engines in unconventionals, drilling, production services, and artificial lift remaining key[5](index=5&type=chunk) - In North America, Halliburton expects to outperform competitors due to its unmatched capability to deliver technology and service execution at scale[6](index=6&type=chunk) [Segment Performance](index=1&type=section&id=Operating%20Segments) Both segments saw 2% revenue growth, but operating income declined due to lower pricing in US Land and seasonal software sales [Completion and Production](index=2&type=section&id=Completion%20and%20Production) Completion and Production revenue grew 2% to $3.2 billion, but operating income fell 3% to $513 million due to lower US Land pricing Completion and Production Performance (Q2 2025 vs Q1 2025, in millions) | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | Revenue | $3,200 | $3,100 | +2% | | Operating Income | $513 | $531 | -3% | - Revenue growth was driven by improved pressure pumping services and higher completion tool sales in the Western Hemisphere, along with better well intervention services internationally[8](index=8&type=chunk) - The decline in operating income was primarily caused by lower pricing for stimulation services in US Land[8](index=8&type=chunk) [Drilling and Evaluation](index=2&type=section&id=Drilling%20and%20Evaluation) Drilling and Evaluation revenue grew 2% to $2.3 billion, but operating income decreased 11% to $312 million due to software sales and costs Drilling and Evaluation Performance (Q2 2025 vs Q1 2025, in millions) | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,300 | $2,300 | +2% | | Operating Income | $312 | $352 | -11% | - Revenue increased due to higher drilling-related services globally, offset by decreased software sales and lower wireline activity in Middle East/Asia[9](index=9&type=chunk) - Operating income fell due to the seasonal roll-off of software sales and increased startup and mobilization costs across multiple product service lines[9](index=9&type=chunk) [Geographic Performance](index=2&type=section&id=Geographic%20Regions) North America revenue was flat at $2.3 billion, while international revenue grew 2% to $3.3 billion, driven by Latin America and Europe/Africa [North America](index=2&type=section&id=North%20America) North America revenue remained flat at $2.3 billion, with gains in Canada and US Land offset by declines in other areas North America Revenue (Q2 2025 vs Q1 2025, in millions) | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,300 | $2,200 | Flat | - Positive drivers included increased stimulation activity in Canada and higher fluid services and cementing in US Land[10](index=10&type=chunk) - These gains were offset by lower artificial lift activity in US Land, decreased fluid services and wireline activity in the Gulf of America, and lower software sales[10](index=10&type=chunk) [International](index=2&type=section&id=International) International revenue grew 2% to $3.3 billion, driven by Latin America (+9%) and Europe/Africa (+6%), offsetting Middle East/Asia decline International Revenue by Region (Q2 2025 vs Q1 2025, in millions) | Region | Q2 2025 Revenue | Sequential Change | | :--- | :--- | :--- | | **Total International** | **$3,300** | **+2%** | | Latin America | $977 | +9% | | Europe/Africa | $820 | +6% | | Middle East/Asia | $1,500 | -4% | - Latin America's growth was led by improved activity in Mexico and Brazil[12](index=12&type=chunk) - Europe/Africa's increase was primarily driven by higher activity in Norway[13](index=13&type=chunk) - The Middle East/Asia decrease was mainly due to lower activity in Saudi Arabia and Kuwait[14](index=14&type=chunk) [Technology and Corporate Highlights](index=3&type=section&id=Selective%20Technology%20%26%20Highlights) Halliburton returned capital via $250 million stock repurchases and dividends, while advancing key technologies and securing new contracts - The company returned capital to shareholders through **$250 million** in stock repurchases and dividends of **$0.17 per share**[18](index=18&type=chunk) - Won a contract with GeoFrame Energy for a geothermal and direct lithium extraction (DLE) project in East Texas[16](index=16&type=chunk) - Key technology advancements include a new intelligent fracturing process with Chevron, fully automated drilling with Nabors in Oman, and the launch of the EarthStar® 3DX look-ahead resistivity service[18](index=18&type=chunk) - Awarded a 5-year contract by Repsol Resources UK to support the full well lifecycle for its UK North Sea platform assets[18](index=18&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) Financial statements show sequential revenue growth but year-over-year decline, stable balance sheet, and positive operating cash flow for H1 2025 [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue was $5.51 billion with $472 million net income; H1 2025 revenue was $10.93 billion with $676 million net income Three Months Ended Financial Summary (in millions) | Metric | Q2 2025 | Q2 2024 | Q1 2025 | | :--- | :--- | :--- | :--- | | Total Revenue | $5,510 | $5,833 | $5,417 | | Total Operating Income | $727 | $1,032 | $431 | | Net Income Attributable to Company | $472 | $709 | $204 | Six Months Ended Financial Summary (in millions) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Total Revenue | $10,927 | $11,637 | | Total Operating Income | $1,158 | $2,019 | | Net Income Attributable to Company | $676 | $1,315 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were $25.38 billion, with total liabilities at $14.83 billion and stable shareholders' equity Balance Sheet Summary (in millions) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Current Assets | $11,671 | $12,382 | | Total Assets | $25,377 | $25,587 | | Total Current Liabilities | $5,844 | $6,050 | | Total Liabilities | $14,830 | $15,039 | | Total Shareholders' Equity | $10,547 | $10,548 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 operating cash flow was $1.27 billion, with $1.04 billion used in investing and $811 million in financing activities Six Months Ended Cash Flow Summary (in millions) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Cash flows from operating activities | $1,273 | $1,568 | | Cash flows used in investing activities | $(1,040) | $(774) | | Cash flows used in financing activities | $(811) | $(838) | | Decrease in cash and equivalents | $(580) | $(126) | | Cash and equivalents at end of period | $2,038 | $2,138 | [Reconciliation of Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) Reconciliations clarify non-GAAP measures, showing Q1 2025 adjusted operating income of $787 million and Q2 2025 free cash flow of $582 million [Reconciliation of Operating Income to Adjusted Operating Income](index=10&type=section&id=Reconciliation%20of%20Operating%20Income%20to%20Adjusted%20Operating%20Income) Q1 2025 adjusted operating income was $787 million, excluding $356 million in pre-tax charges for severance and asset impairments Operating Income Reconciliation (in millions) | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Operating Income (GAAP) | $727 | $431 | | Impairments and other charges | $— | $356 | | **Adjusted Operating Income (Non-GAAP)** | **$727** | **$787** | - The Q1 2025 charges of **$356 million** consisted of severance costs (**$107M**), impairment of assets held for sale (**$104M**), impairment of real estate (**$53M**), and other items (**$92M**)[43](index=43&type=chunk) [Reconciliation of Net Income to Adjusted Net Income](index=12&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20Net%20Income) Q1 2025 adjusted net income was $517 million ($0.60 per diluted share), excluding $356 million in pre-tax charges Net Income Reconciliation (in millions, except per share data) | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Net Income (GAAP) | $472 | $204 | | Adjustments, net of taxes | $— | $313 | | **Adjusted Net Income (Non-GAAP)** | **$472** | **$517** | | Diluted EPS (GAAP) | $0.55 | $0.24 | | **Adjusted Diluted EPS (Non-GAAP)** | **$0.55** | **$0.60** | [Reconciliation of Cash Flows from Operating Activities to Free Cash Flow](index=14&type=section&id=Reconciliation%20of%20Cash%20Flows%20from%20Operating%20Activities%20to%20Free%20Cash%20Flow) Free cash flow for Q2 2025 was $582 million, and $706 million for H1 2025, calculated from operating cash flow less capital expenditures Free Cash Flow Reconciliation (in millions) | Metric | Q2 2025 | H1 2025 | | :--- | :--- | :--- | | Cash flows from operating activities | $896 | $1,273 | | Capital expenditures | $(354) | $(656) | | Proceeds from sales of PP&E | $40 | $89 | | **Free Cash Flow (Non-GAAP)** | **$582** | **$706** |

Core Viewpoint - Halliburton Company (HAL) is expected to report second-quarter earnings on July 22, with a consensus estimate of 56 cents per share and revenues of $5.4 billion, reflecting a challenging operating environment primarily due to North American market pressures and declining margins in its Drilling & Evaluation division [1][8]. Group 1: Q1 Performance and Trends - In the first quarter, Halliburton met the consensus estimate with an adjusted net income of 60 cents per share and revenues of $5.4 billion, surpassing the Zacks Consensus Estimate of $5.3 billion [2]. - Over the last four quarters, Halliburton has beaten the Zacks Consensus Estimate once and matched it three times, with the second-quarter estimate indicating a 30% year-over-year decline in earnings and a 6.7% decrease in revenues [3]. Group 2: Factors Influencing Q2 Performance - The North American business is under pressure due to weaker commodity prices and customer uncertainty, with expected sales of $2.3 billion, representing a 6.6% year-over-year decline [4]. - The projected gross profit for the second quarter is $846.8 million, down nearly 25% from the previous year, attributed to a significant margin decline in the Drilling & Evaluation division, with an estimated operating margin of 13.8%, down 280 basis points [5]. Group 3: Strategic Developments - Halliburton's shift towards digitalization and integrated services is gaining traction, particularly with the Zeus IQ platform, which enhances automation and efficiency in hydraulic fracturing, potentially stabilizing revenues and improving client relationships [6][8].