
Halliburton Co. on Tuesday reported $517 million in adjusted net earnings excluding impairments and other charges for the first quarter (Q1), down about 24 percent year-on-year (YoY).
That met the average estimate from analysts surveyed by Zacks. However, the United States energy tech major has failed to surpass the Zacks Consensus Estimate in the last four quarters. Halliburton’s stock closed lower on results day at $20.7 on the New York Stock Exchange.
Net income before adjustments dropped to $204 million, or $0.24 per diluted share, for Q1 2025 from $606 million for the same three-month period a year ago.
Adjusted operating income excluding impairments and other charges came at $787 million for the January-March 2025 period. Its adjusted operating margin was 14.5 percent.
Halliburton booked $356 million in pre-tax charges “as a result of severance costs, an impairment of assets held for sale, an impairment on real estate facilities, and other items”, it said in an online statement.
Revenue declined to $5.4 billion for Q1 2025 from $5.8 billion for Q1 2024. However, chair, president and chief executive Jeff Miller highlighted, “Our first quarter international tender activity was strong, Halliburton won meaningful integrated offshore work extending through 2026 and beyond.
“Customers awarded Halliburton several contracts that demonstrate the strength of our value proposition and the power of our service quality execution.
“I am excited by the strong adoption of our groundbreaking technologies. We achieved the world’s first closed-loop, autonomous fracturing operation. I believe this unlocks the next big step in unconventionals”.
Halliburton’s North American operations generated $2.2 billion in revenue for Q1 2025, down 12 percent YoY. “This decline was primarily driven by lower stimulation activity in US Land and decreased completion tool sales in the Gulf of America”, the company said. “Partially offsetting these decreases were higher artificial lift activity and improved drilling services in US Land and increased stimulation activity in the Gulf of America”.
Latin American revenue decreased 19 percent YoY to $896 million. “This decrease was primarily due to lower activity across multiple product service lines in Mexico and decreased completion tool sales across the region”, Halliburton said. “Partially offsetting these decreases were increased drilling-related services in Argentina, Brazil, and the Caribbean”.
The Middle East and Asia posted a 6 percent revenue increase to $1.5 billion. “This improvement was due to higher activity across multiple product service lines in Kuwait, increased stimulation activity and improved completion tool sales in Saudi Arabia, and increased fluid services in the United Arab Emirates”, it said. “Partially offsetting these increases were lower well construction activity in Saudi Arabia and Australia, decreased completion tool sales in Malaysia, and reduced drilling-related activity in Oman”.
Europe and Africa also saw a 6 percent increase in revenue to $775 million. “This increase was primarily driven by improved activity across multiple product service lines in Norway, higher well construction activity in Namibia, as well as improved completion tools sales in the Caspian Area”, Halliburton said. “Partially offsetting these increases was decreased activity across multiple product service lines in Senegal and Italy”.
Halliburton paid dividends per share of $0.17 and repurchased $250 million worth of common stock in Q1 2025.
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