Earnings summaries and quarterly performance for HALLIBURTON.
Executive leadership at HALLIBURTON.
Jeffrey Miller
Chairman, President and Chief Executive Officer
Eric Carre
Executive Vice President and Chief Financial Officer
Mark Richard
President – Western Hemisphere
Shannon Slocum
President – Eastern Hemisphere
Stephanie Holzhauser
Senior Vice President and Chief Accounting Officer
Van Beckwith
Executive Vice President, Secretary and Chief Legal Officer
Board of directors at HALLIBURTON.
Abdulaziz Al Khayyal
Director
Alan Bennett
Director
Earl Cummings
Director
Janet Weiss
Director
Katherine Banks
Director
Maurice Smith
Director
Murry Gerber
Director
Robert Malone
Lead Independent Director
Tobi Young
Director
William Albrecht
Director
Research analysts who have asked questions during HALLIBURTON earnings calls.
Arun Jayaram
JPMorgan Chase & Co.
9 questions for HAL
Saurabh Pant
Bank of America
9 questions for HAL
Neil Mehta
Goldman Sachs
7 questions for HAL
Scott Gruber
Citigroup
7 questions for HAL
Derek Podhaizer
Piper Sandler Companies
6 questions for HAL
Marc Bianchi
TD Cowen
6 questions for HAL
James West
Evercore ISI
5 questions for HAL
J. David Anderson
Barclays
5 questions for HAL
Roger Read
Wells Fargo & Company
5 questions for HAL
Stephen Gengaro
Stifel Financial Corp.
5 questions for HAL
David Anderson
Barclays PLC
3 questions for HAL
Doug Becker
Capital One
3 questions for HAL
Stephen Gengaro
Stifel
3 questions for HAL
Douglas Becker
Capital One
2 questions for HAL
Keith MacKey
RBC Capital Markets
2 questions for HAL
Kurt Hallead
The Benchmark Company
2 questions for HAL
Derek John Podhaizer
Piper Sandler & Co.
1 question for HAL
Douglas Lee Becker
Capital One Securities
1 question for HAL
John Anderson
Barclays
1 question for HAL
Neil Singhvi Mehta
Goldman Sachs Group
1 question for HAL
Recent press releases and 8-K filings for HAL.
- Q4 2025 revenue of $5.7 billion, adjusted operating margin of 15%, adjusted EPS of $0.69, free cash flow of $875 million, and $250 million of share repurchases in the quarter.
- Full-year 2025 revenue of $22.2 billion, adjusted operating margin of 14%, cash flow from operations of $2.9 billion, free cash flow of $1.9 billion, and $1 billion of common stock repurchased.
- 2026 is expected to be a year of market rebalancing: total international revenue flat to modestly up; North America revenue down high single digits versus 2025.
- Secured manufacturing capacity for 400 MW of modular power systems in partnership with VoltaGrid, accelerating growth in the electric power business.
- Halliburton delivered Q4 revenue of $5.7 billion (flat QoQ), adjusted operating margin of 15%, and EPS of $0.70 (diluted; $0.69 adjusted).
- For full-year 2025, revenue was $22.2 billion with a 14% adjusted operating margin; the company generated $2.9 billion cash from operations, $1.9 billion free cash flow, and repurchased $1 billion of stock, returning 85% of FCF to shareholders.
- Q1 2026 guidance calls for a 7–9% sequential revenue decline in Completion & Production and 2–4% in Drilling & Evaluation, with margins down ~300 bps and 25–75 bps respectively.
- Full-year 2026 outlook includes $1.1 billion of capital expenditures, an effective tax rate of ~21%, and expects 2026 to be a rebalancing year with stable international activity and moderate North America softness.
- Halliburton reported Q4 2025 revenue of $5.7 billion, flat sequentially, with 15% adjusted operating margin, $0.69 adjusted EPS, and $875 million free cash flow.
- For full-year 2025, revenue was $22.2 billion with 14% adjusted operating margin; the company generated $2.9 billion cash from operations, $1.9 billion free cash flow, and repurchased $1 billion of stock, returning 85% of free cash flow to shareholders.
- Regional 2025 performance: International revenue of $13.1 billion (–2% y/y) and North America revenue of $9.1 billion (–6% y/y).
- 2026 guidance: International revenue flat to modestly up; North America down high single digits; Q1 revenues expected to decline 7–9% in Completion & Production and 2–4% in Drilling & Evaluation, with margins down ~300 bps and 25–75 bps respectively; 2026 CapEx guided at $1.1 billion.
- Revenue of $5.7 billion with an operating margin of 13% (adjusted operating margin 15%) in Q4 2025.
- Net income of $589 million, or $0.70 per diluted share, and adjusted net income of $576 million, or $0.69 per diluted share in the quarter.
- Cash flow from operations of $1.2 billion and free cash flow of $875 million for Q4 2025.
- Repurchased $250 million of common stock in Q4 and $1 billion for the full year, returning 85% of free cash flow to shareholders in 2025.
- Halliburton delivered Q4 net income of $589 million (EPS $0.70) and adjusted net income of $576 million (adjusted EPS $0.69).
- Total revenue reached $5.7 billion with an operating margin of 13% and an adjusted operating margin of 15%.
- Cash flow from operations was $1.2 billion, generating free cash flow of $875 million in the quarter.
- For full-year 2025, the company repurchased $1 billion of shares and returned 85% of free cash flow to shareholders.
- Halliburton aims to mobilize within weeks of securing an OFAC license and enforceable payment guarantees, leveraging retained local facilities and entity from its 2020 withdrawal.
- The move is designed to offset weakening North American shale demand and capture broader Latin American growth, aligning with U.S. efforts to boost Venezuelan crude output.
- Q4 adjusted EPS came in at $0.69, beating estimates by $0.15, and shares surged up to 5.4%, reaching a 17-month high.
- Corporate risk analyses highlight the need for multi-stage regulatory compliance, due diligence and third-party audits before full re-entry.
- Halliburton and VoltaGrid will manufacture 400 MW of modular natural gas power systems for 2028 delivery to support Eastern Hemisphere data centers.
- Systems are designed for hyperscale data center requirements with a lower emissions profile compared to conventional diesel generation.
- The initiative underscores Halliburton’s focus on innovative, sustainable energy solutions leveraging its global footprint and VoltaGrid’s distributed power platform.
- CEO Jeff Miller and VoltaGrid’s Nathan Ough emphasize growing digital infrastructure demands and strategic international collaboration.
- Halliburton will provide umbilical-less tubing hanger installation and retrieval services using its ROCS technology under a framework agreement with Shell, following a successful three-well phase in the Gulf of America.
- The Remote Operated Control System (ROCS) reduces surface pressure risks and personnel exposure, enabling up to 75% fewer deck operations and faster run-in and pull-out procedures.
- ROCS has been deployed in the Norwegian Continental Shelf, West Africa, and the Gulf of America, achieving the deepest umbilical-less operation to date at 8,458 ft.
- The agreement highlights ROCS’s potential for broader adoption across deepwater rig fleets, aiming to boost safety and efficiency in complex environments.
- Halliburton delivered $5.6 B in Q3 revenue with an adjusted operating margin of 13%, generated $276 M in free cash flow, repurchased $250 M of stock, and enacted cost actions expected to save $100 M per quarter
- By region, Q3 international revenue was $3.2 B (–2% YoY) and roughly flat sequentially, while North America revenue was $2.4 B (flat YoY, +5% sequential) driven by stronger Gulf of Mexico activity
- Q4 guidance calls for international revenue to rise 3–4% sequentially, North America revenue to fall 12–13%, Completion & Production division revenue down 4–6% with margins –25 to –75 bps, and Drilling & Evaluation revenue flat to –2% with margins +50 to +100 bps
- For 2026, capex is reset ~30% lower to $1.0 B, non-core equipment will be idled, and the company will maintain technology investment alongside cost and capital discipline
- Halliburton signed an agreement to partner with Voltigrid on delivering distributed power solutions for data centers outside North America, leveraging its global execution capabilities
- Q3 revenue $5.6 billion (+2% sequentially), adjusted operating margin 13%, adjusted EPS $0.58.
- Completion & Production revenue $3.2 billion (+2% QoQ; margin 16%); Drilling & Evaluation revenue $2.4 billion (+2% QoQ; margin 15%).
- Q3 free cash flow $276 million, repurchased $250 million of stock; recorded $284 million of severance/assets write-offs, expected $100 million in quarterly savings.
- Q4 outlook: North America revenue down 12–13% sequentially; C&P revenues down 4–6% (margins −25 to −75 bps); D&E revenues flat to −2% (margins +50 to +100 bps).
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