Core Insights - Halliburton Company (HAL) reported fourth-quarter 2025 adjusted net income per share of 69 cents, exceeding the Zacks Consensus Estimate of 54 cents, primarily due to successful cost reduction initiatives, although it slightly decreased from the year-ago adjusted profit of 70 cents due to softer activity in North America [1] Financial Performance - Revenues for Halliburton reached $5.7 billion, marking a 0.8% increase year over year and surpassing the Zacks Consensus Estimate by 4.7% [2] - North American revenues decreased by 0.3% year over year to $2.2 billion but exceeded projections by over $146 million, while international revenues rose by 1.5% to $3.5 billion, beating estimates by 3% [3] Segment Performance - The Completion and Production segment generated $570 million in operating income, down from $629 million the previous year, but exceeded estimates of $473.2 million due to a favorable activity mix [4] - The Drilling and Evaluation unit's profit fell to $367 million from $401 million year over year, attributed to lower fluid services in North America and reduced drilling services in the Middle East/Asia, yet it surpassed estimates of $359.9 million [5] Capital Expenditure and Cash Flow - Halliburton's fourth-quarter capital expenditure was $337 million, below the projected $390.4 million, with approximately $2.2 billion in cash/cash equivalents and $7.2 billion in long-term debt as of December 31, 2025, resulting in a debt-to-capitalization ratio of 40.5 [6] - The company executed $1 billion in share repurchases during 2025, returning 85% of free cash flow to shareholders, with a generated cash flow from operations of $1.2 billion in the fourth quarter, leading to a free cash flow of $875 million [6] Management Outlook - Halliburton anticipates continued strength in its international business, supported by a collaborative value proposition and proven technology, while maintaining its Maximize Value strategy in North America, expecting the region to respond first as macro fundamentals improve [7] Investment Position - Halliburton currently holds a Zacks Rank 2 (Buy), indicating a favorable investment outlook [8]