Halliburton Chairman, President, and CEO Jeff Miller has warned of a “softer” oilfield companies market than he beforehand anticipated within the firm’s second quarter outcomes assertion, which was revealed just lately.
“What I see tells me the oilfield companies market can be softer than I beforehand anticipated over the brief to medium time period,” Miller mentioned within the assertion.
“We’ll in fact take motion to handle this near-term softness, and we stay totally dedicated to our shareholder returns framework,” he added.
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“In worldwide markets, whereas exercise reductions in a number of giant markets will possible overshadow the stable efficiency of different geographies, I’m assured our technique is the suitable one, and our progress engines, together with unconventionals, drilling, manufacturing companies and synthetic carry, stay key to that technique,” Miller continued.
“In North America, my buyer conversations inform me expertise and repair execution are key to maximizing the worth of their belongings and I imagine Halliburton has unmatched functionality to ship each of those at scale, which is why I count on Halliburton to proceed to outpace our rivals on this essential market,” he went on to notice.
Within the assertion, Miller mentioned the corporate “at this time is extra differentiated, with deeper expertise benefits to handle our prospects’ necessities, and extra collaborative than ever earlier than”.
“I imagine our price proposition, to collaborate and engineer options to maximise asset worth for our prospects, is a robust driver of each buyer and shareholder worth,” Miller added.
In its assertion, Halliburton introduced a internet earnings of $472 million, or $0.55 per diluted share, for the second quarter of 2025. The corporate highlighted within the assertion that its internet earnings within the first quarter was $204 million, or $0.24 per diluted share.
Halliburton’s whole income for the second quarter of 2025 was $5.5 billion, in comparison with whole income of $5.4 billion within the first quarter of 2025, the assertion famous, including that working earnings was $727 million within the second quarter of 2025, in comparison with working earnings of $431 million within the first quarter of 2025.
Halliburton revealed in its assertion that Completion and Manufacturing income within the second quarter of 2025 was $3.2 billion, which it identified was a rise of $51 million, or two %, when in comparison with the primary quarter of 2025. The corporate highlighted that the phase’s working earnings within the second quarter was $513 million, which it identified was a lower of $18 million, or three %, when in comparison with the primary quarter.
“Income elevated as a result of improved stress pumping companies and better completion instrument gross sales within the Western Hemisphere, improved properly intervention companies internationally, and elevated pipeline and course of companies within the Japanese Hemisphere,” Halliburton mentioned within the assertion.
“Offsetting these will increase have been decrease exercise throughout a number of product service traces within the Center East and decrease Synthetic Carry exercise in U.S. Land. The decline in working earnings was primarily pushed by decrease pricing for stimulation companies in U.S. Land,” it added.
Halliburton’s Drilling and Analysis income within the second quarter was $2.3 billion, the corporate highlighted within the assertion, stating that this was a rise of $42 million, or two %, when in comparison with the primary quarter. The phase’s working earnings within the second quarter was $312 million, the corporate outlined, noting that this was a lower of $40 million, or 11 %, when in comparison with the primary quarter of 2025.
“Income elevated as a result of elevated drilling-related companies globally,” Halliburton mentioned within the assertion.
“Offsetting these will increase have been decreased software program gross sales globally, decrease wireline exercise and decreased testing companies in Center East/Asia, and decrease exercise throughout a number of product service traces in Namibia,” it added.
“Working earnings decreased as a result of seasonal roll off of software program gross sales and elevated startup and mobilization prices incurred throughout a number of product service traces,” it went on to state.
North America income within the second quarter was $2.3 billion, Halliburton mentioned within the assertion, noting that this was comparatively flat when in comparison with the primary quarter of 2025.
“These outcomes have been primarily pushed by elevated stimulation exercise in Canada, increased fluid companies and improved cementing exercise in U.S. Land, and elevated completion instrument gross sales within the area,” the corporate added.
“These will increase have been offset by decrease synthetic carry exercise in U.S. Land, decreased fluid companies and decrease wireline exercise within the Gulf of America, and decreased software program gross sales within the area,” it mentioned.
Worldwide income within the second quarter of 2025 got here in at $3.3 billion, the corporate revealed within the assertion, stating that this was a rise of two % when in comparison with the primary quarter.
Latin America income within the second quarter of 2025 was $977 million, in keeping with the assertion, which famous that this was a rise of 9 % sequentially.
“This improve was primarily as a result of improved exercise throughout a number of product service traces in Mexico and Brazil and elevated properly intervention companies in Argentina,” Halliburton mentioned within the assertion.
“Partially offsetting these will increase have been decreased undertaking administration exercise in Ecuador and decrease drilling companies and decreased cementing exercise in Argentina,” it added.
Europe/Africa income within the second quarter of 2025 was $820 million, the assertion revealed, stating that this was a rise of six % sequentially.
“This improve was primarily pushed by increased exercise throughout a number of product service traces in Norway. Partially offsetting this improve was decreased properly development exercise in Namibia and decrease completion instrument gross sales throughout Africa,” Halliburton said.
Center East/Asia income within the second quarter of 2025 was $1.5 billion, in keeping with the assertion, which highlighted that this was a lower of 4 % sequentially.
“This lower was primarily as a result of decrease exercise throughout a number of product service traces in Saudi Arabia and Kuwait. Partially offsetting these decreases have been elevated drilling exercise and improved properly intervention companies within the area,” Halliburton mentioned.
Halliburton’s second quarter outcomes assertion highlighted that the corporate’s internet earnings got here in at $709 million within the second quarter of 2024. Halliburton’s whole income was $5.8 billion within the second quarter of final yr, with $3.4 billion of that coming from the corporate’s Completion and Manufacturing phase and $2.4 billion coming from its Drilling and Analysis phase, the assertion outlined.
North America contributed $2.48 billion of the corporate’s whole income within the second quarter of 2024, Latin America contributed $1.09 billion, Europe/Africa/CIS contributed $757 million, and the Center East/Asia contributed $1.49 billion, Halliburton identified in its newest monetary outcomes assertion.
To contact the writer, e mail andreas.exarheas@rigzone.com
