We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Halliburton Q2 Earnings Meet Estimates on International Growth
Read MoreHide Full Article
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 - Free Report) 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 reflect softer activity in the North American region, partly offset by international growth.
Meanwhile, revenues of $5.5 billion were 5.5% lower year over year but beat the Zacks Consensus Estimate by 1.1%.
Halliburton Company Price, Consensus and EPS Surprise
North American revenues fell 9% year over year to $2.3 billion and missed our projection by almost $60 million. Revenues from Halliburton’s international operations decreased 3% from the year-ago period to $3.3 billion but surpassed our estimate of $3.1 billion.
The Completion and Production segment earned $513 million in operating income, lower than last year’s $723 million and our estimate of $537.7 million. The decline was due to lower prices for stimulation services in the U.S. Land, less work in the Middle East and a lull in domestic onshore artificial lift activity. However, stronger pressure pumping activity and higher demand for completion tools across the Western Hemisphere, notable well intervention services internationally, in addition to growth in pipeline and process services across the Eastern Hemisphere.
The Drilling and Evaluation unit's profit fell to $312 million in the second quarter of 2025 from $403 million in the same period in 2024 and fell short of our estimate of $316.6 million. The downtick was caused by the seasonal slowdown in software sales, combined with elevated startup and mobilization expenses across several product service lines. This was partly offset by higher drilling-related services globally.
Balance Sheet
Halliburton reported second-quarter capital expenditure of $354 million, higher than our projection of $338.2 million. As of June 30, 2025, the Zacks Rank #5 (Strong Sell) company had approximately $2 billion in cash/cash equivalents and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 40.4. HAL bought back $250 million worth of its stock during the April-June period. The company generated $896 million of cash flow from operations in the second quarter, leading to a free cash flow of $582 million.
Halliburton’s management anticipates a softer oilfield services market in the near to medium term and plans to act accordingly, while staying committed to shareholder returns. International activity is expected to be mixed, with strength in some regions offset by declines in others. The company remains confident in its strategy, emphasizing growth in drilling, unconventional, and artificial lift. In North America, Halliburton aims to outperform peers through scale, technology leadership, and strong service execution.
Important Earnings at a Glance
While we have discussed Halliburton’s second-quarter results in detail, let’s take a look at two other key reports in the Oil/Energy space.
Halliburton’s larger rival SLB (SLB - Free Report) reported second-quarter 2025 adjusted earnings per share of 74 cents, a penny ahead of the Zacks Consensus Estimate. It recorded total quarterly revenues of $8.6 billion, which beat the Zacks Consensus Estimate of $8.5 billion. SLB’s robust numbers reflect international growth, strong digital revenues and rising demand for production systems.
SLB reported a free cash flow of $622 million in the second quarter. As of June 30, 2025, the company had approximately $3.75 billion in cash and short-term investments. It registered a long-term debt of $10.89 billion at the end of the quarter.
Meanwhile, energy infrastructure provider Kinder Morgan (KMI - Free Report) reported second-quarter 2025 adjusted earnings per share of 28 cents, which met the Zacks Consensus Estimate. The bottom line increased year over year from 25 cents. Kinder Morgan’s quarterly revenues of $4 billion beat the Zacks Consensus Estimate of $3.9 billion. The better-than-expected quarterly earnings were primarily due to robust natural gas demand and higher contributions from its Natural Gas Pipelines and Terminals segments.
For 2025, Kinder Morgan reiterated its projected net income of $2.8 billion (up 8% from the 2024 level) and an adjusted EPS of $1.27 (up 10%). The company expects dividends of $1.17 per share, up 2% from the prior-year figure. Kinder Morgan also anticipates a budgeted adjusted EBITDA of $8.3 billion, up 4% from the previous year’s level.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Halliburton Q2 Earnings Meet Estimates on International Growth
Key Takeaways
Halliburton Company (HAL - Free Report) 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 reflect softer activity in the North American region, partly offset by international growth.
Meanwhile, revenues of $5.5 billion were 5.5% lower year over year but beat the Zacks Consensus Estimate by 1.1%.
Halliburton Company Price, Consensus and EPS Surprise
Halliburton Company price-consensus-eps-surprise-chart | Halliburton Company Quote
Inside Halliburton’s Regions & Segments
North American revenues fell 9% year over year to $2.3 billion and missed our projection by almost $60 million. Revenues from Halliburton’s international operations decreased 3% from the year-ago period to $3.3 billion but surpassed our estimate of $3.1 billion.
The Completion and Production segment earned $513 million in operating income, lower than last year’s $723 million and our estimate of $537.7 million. The decline was due to lower prices for stimulation services in the U.S. Land, less work in the Middle East and a lull in domestic onshore artificial lift activity. However, stronger pressure pumping activity and higher demand for completion tools across the Western Hemisphere, notable well intervention services internationally, in addition to growth in pipeline and process services across the Eastern Hemisphere.
The Drilling and Evaluation unit's profit fell to $312 million in the second quarter of 2025 from $403 million in the same period in 2024 and fell short of our estimate of $316.6 million. The downtick was caused by the seasonal slowdown in software sales, combined with elevated startup and mobilization expenses across several product service lines. This was partly offset by higher drilling-related services globally.
Balance Sheet
Halliburton reported second-quarter capital expenditure of $354 million, higher than our projection of $338.2 million. As of June 30, 2025, the Zacks Rank #5 (Strong Sell) company had approximately $2 billion in cash/cash equivalents and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 40.4. HAL bought back $250 million worth of its stock during the April-June period. The company generated $896 million of cash flow from operations in the second quarter, leading to a free cash flow of $582 million.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Management Remarks & Outlook
Halliburton’s management anticipates a softer oilfield services market in the near to medium term and plans to act accordingly, while staying committed to shareholder returns. International activity is expected to be mixed, with strength in some regions offset by declines in others. The company remains confident in its strategy, emphasizing growth in drilling, unconventional, and artificial lift. In North America, Halliburton aims to outperform peers through scale, technology leadership, and strong service execution.
Important Earnings at a Glance
While we have discussed Halliburton’s second-quarter results in detail, let’s take a look at two other key reports in the Oil/Energy space.
Halliburton’s larger rival SLB (SLB - Free Report) reported second-quarter 2025 adjusted earnings per share of 74 cents, a penny ahead of the Zacks Consensus Estimate. It recorded total quarterly revenues of $8.6 billion, which beat the Zacks Consensus Estimate of $8.5 billion. SLB’s robust numbers reflect international growth, strong digital revenues and rising demand for production systems.
SLB reported a free cash flow of $622 million in the second quarter. As of June 30, 2025, the company had approximately $3.75 billion in cash and short-term investments. It registered a long-term debt of $10.89 billion at the end of the quarter.
Meanwhile, energy infrastructure provider Kinder Morgan (KMI - Free Report) reported second-quarter 2025 adjusted earnings per share of 28 cents, which met the Zacks Consensus Estimate. The bottom line increased year over year from 25 cents. Kinder Morgan’s quarterly revenues of $4 billion beat the Zacks Consensus Estimate of $3.9 billion. The better-than-expected quarterly earnings were primarily due to robust natural gas demand and higher contributions from its Natural Gas Pipelines and Terminals segments.
For 2025, Kinder Morgan reiterated its projected net income of $2.8 billion (up 8% from the 2024 level) and an adjusted EPS of $1.27 (up 10%). The company expects dividends of $1.17 per share, up 2% from the prior-year figure. Kinder Morgan also anticipates a budgeted adjusted EBITDA of $8.3 billion, up 4% from the previous year’s level.