- \n
- \nNet income of $0.24 per diluted share.\n<\/li>\n
- \nAdjusted net income per diluted share1 <\/sup>of $0.60.\n<\/li>\n
- \nRevenue of $5.4 billion and operating margin of 8%.\n<\/li>\n
- \nAdjusted operating margin2<\/sup> of 14.5%.\n<\/li>\n
- \nApproximately $250 million of share repurchases.\n<\/li>\n<\/ul>\n
HOUSTON–(BUSINESS WIRE<\/a>)–
\nHalliburton Company (NYSE: HAL) announced today net income of $204 million, or $0.24 per diluted share, for the first quarter of 2025. This compares to net income for the first quarter of 2024 of $606 million, or $0.68 per diluted share. Adjusted net income3<\/sup> in the first quarter of 2025, excluding impairments and other charges, was $517 million, or $0.60 per diluted share, compared to adjusted net income of $679 million, or $0.76 per diluted share, in the first quarter of 2024. Halliburton\u2019s total revenue for the first quarter of 2025 was $5.4 billion, compared to total revenue of $5.8 billion in the first quarter of 2024. Operating income was $431 million in the first quarter of 2025, compared to operating income of $987 million in the first quarter of 2024. Adjusted operating income4<\/sup>,excluding impairments and other charges, was $787 million in the first quarter of 2025.\n<\/p>\n\n\u201cI am pleased with our performance in the first quarter. We delivered total company revenue of $5.4 billion and adjusted operating margin of 14.5%,\u201d commented Jeff Miller, Chairman, President and CEO.\n<\/p>\n
\n\u201cOur 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.\n<\/p>\n
\n\u201cI am excited by the strong adoption of our groundbreaking technologies. We achieved the world\u2019s first closed-loop, autonomous fracturing operation. I believe this unlocks the next big step in unconventionals.\n<\/p>\n
\n\u201cI firmly believe that despite recent pressures on the energy macro, Halliburton\u2019s consistent focus on technology, collaboration, and service quality execution create value for our customers and drive long-term success for Halliburton and its shareholders,\u201d concluded Miller.\n<\/p>\n
Operating Segments<\/span><\/b><\/p>\n
Completion and Production<\/b><\/p>\n
\nCompletion and Production revenue in the first quarter of 2025 was $3.1 billion, a decrease of $253 million, or 8% when compared to the first quarter of 2024, while operating income was $531 million, a decrease of $157 million, or 23%. These results were primarily driven by decreased pressure pumping services and lower completion tool sales in the Western Hemisphere. Partially offsetting these decreases were increased completion tool sales and improved stimulation activity in the Middle East.\n<\/p>\n
Drilling and Evaluation<\/b><\/p>\n
\nDrilling and Evaluation revenue in the first quarter of 2025 was $2.3 billion, a decrease of $134 million, or 6% when compared to the first quarter of 2024, while operating income was $352 million, a decrease of $46 million, or 12%. These results were primarily driven by decreased drilling services in Mexico and the Middle East, reduced project management activity in Mexico, and lower wireline activity in the Middle East\/Asia. Partially offsetting these decreases was increased fluid services in the Middle East.\n<\/p>\n
Geographic Regions<\/span><\/b><\/p>\n
North America<\/b><\/p>\n
\nNorth America revenue in the first quarter of 2025 was $2.2 billion, a 12% decrease when compared to the first quarter of 2024. This decline was primarily driven by lower stimulation activity in US Land and decreased completion tool sales in the Gulf of America. 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.\n<\/p>\n
International<\/b><\/p>\n
\nInternational revenue in the first quarter of 2025 was $3.2 billion, a decrease of 2% when compared to the first quarter of 2024.\n<\/p>\n
\nLatin America revenue in the first quarter of 2025 was $896 million, a decrease of 19% year over year. This decrease was primarily due to lower activity across multiple product service lines in Mexico and decreased completion tool sales across the region. Partially offsetting these decreases were increased drilling-related services in Argentina, Brazil, and the Caribbean.\n<\/p>\n
\nEurope\/Africa revenue in the first quarter of 2025 was $775 million, an increase of 6% year over year. 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. Partially offsetting these increases was decreased activity across multiple product service lines in Senegal and Italy.\n<\/p>\n
\nMiddle East\/Asia revenue in the first quarter of 2025 was $1.5 billion, an increase of 6% year over year. 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. 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.\n<\/p>\n
Other Financial Items<\/span><\/b><\/p>\n
\nDuring the first quarter of 2025, Halliburton:\n<\/p>\n
- \n
- \nRepurchased approximately $250 million of its common stock.\n<\/li>\n<\/ul>\n
- \n
- \nPaid dividends of $0.17 per share.\n<\/li>\n<\/ul>\n
- \n
- \nSpent $30 million on SAP S4 migration.\n<\/li>\n<\/ul>\n
- \n
- \nRecognized a pre-tax charge of $356 million as a result of severance costs, an impairment of assets held for sale, an impairment on real estate facilities, and other items. This charge was included in \u201cImpairments and other charges\u201d in the Company\u2019s Condensed Consolidated Statements of Operations.\n<\/li>\n<\/ul>\n
Selective Technology & Highlights<\/span><\/b><\/p>\n
- \n
- \nHalliburton Energy Services and Coterra Energy Inc. announced the launch of autonomous hydraulic fracturing technology in North America with the Octiv\u00ae Auto Frac service, which is part of the ZEUS platform. This technology automates stage delivery execution with the push of a button. Coterra is the first operator to fully automate and control their hydraulic fracturing design and execution.\n<\/li>\n<\/ul>\n
- \n
- \nHalliburton announced a contract award from Petrobras for integrated drilling services across several offshore fields in Brazil, the result of a competitive process. The contract scope includes drilling services for development and exploration wells over a three-year period. In this contract, Halliburton will provide iCruise\u00ae intelligent rotary steerable system (RSS) to reduce well time and place wells accurately, and LOGIX\u2122 automation and remote operations platform to improve well construction consistency and performance. Halliburton will also provide its ultra-deep resistivity service, EarthStar\u00ae, to position production boreholes and map reservoirs.\n<\/li>\n<\/ul>\n
- \n
- \nHalliburton announced the launch of the new EcoStar\u00ae electric tubing-retrievable safety valve (eTRSV). This second-generation product builds on the success of the industry\u2019s first electric TRSV, which won the OTC Spotlight on New Technology Award in 2017. With the new EcoStar eTRSV, Halliburton solved a three-decade industry challenge by eliminating hydraulic actuations from safety valve systems.\n<\/li>\n<\/ul>\n
- \n
- \nHalliburton and Sekal AS deployed the world\u2019s first automated on-bottom drilling system with the integration of Halliburton\u2019s LOGIX\u2122 automation and remote operations, Sekal\u2019s Drilltronics\u00ae, and the rig automation control system. The team delivered a well for Equinor on the Norwegian Continental Shelf with an integrated closed-loop control solution. This solution orchestrates autonomous directional drilling with automated wellbore hydraulics and dynamic surface drilling rig equipment control. The team is now able to optimize drilling parameters in real time and deliver precise well placement with the single push of a button through integrated automated rig controls.\n<\/li>\n<\/ul>\n
- \nHalliburton announced the launch of the new EcoStar\u00ae electric tubing-retrievable safety valve (eTRSV). This second-generation product builds on the success of the industry\u2019s first electric TRSV, which won the OTC Spotlight on New Technology Award in 2017. With the new EcoStar eTRSV, Halliburton solved a three-decade industry challenge by eliminating hydraulic actuations from safety valve systems.\n<\/li>\n<\/ul>\n
- \nHalliburton announced a contract award from Petrobras for integrated drilling services across several offshore fields in Brazil, the result of a competitive process. The contract scope includes drilling services for development and exploration wells over a three-year period. In this contract, Halliburton will provide iCruise\u00ae intelligent rotary steerable system (RSS) to reduce well time and place wells accurately, and LOGIX\u2122 automation and remote operations platform to improve well construction consistency and performance. Halliburton will also provide its ultra-deep resistivity service, EarthStar\u00ae, to position production boreholes and map reservoirs.\n<\/li>\n<\/ul>\n
- \nHalliburton Energy Services and Coterra Energy Inc. announced the launch of autonomous hydraulic fracturing technology in North America with the Octiv\u00ae Auto Frac service, which is part of the ZEUS platform. This technology automates stage delivery execution with the push of a button. Coterra is the first operator to fully automate and control their hydraulic fracturing design and execution.\n<\/li>\n<\/ul>\n
- \nRecognized a pre-tax charge of $356 million as a result of severance costs, an impairment of assets held for sale, an impairment on real estate facilities, and other items. This charge was included in \u201cImpairments and other charges\u201d in the Company\u2019s Condensed Consolidated Statements of Operations.\n<\/li>\n<\/ul>\n
- \nSpent $30 million on SAP S4 migration.\n<\/li>\n<\/ul>\n
- \nPaid dividends of $0.17 per share.\n<\/li>\n<\/ul>\n
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