Halliburton Co. on Tuesday reported $517 million in adjusted internet earnings excluding impairments and different prices for the primary quarter (Q1), down about 24 p.c year-on-year (YoY).
That met the typical estimate from analysts surveyed by Zacks. Nevertheless, the US vitality tech main has did not surpass the Zacks Consensus Estimate within the final 4 quarters. Halliburton’s inventory closed decrease on outcomes day at $20.7 on the New York Inventory Trade.
Internet earnings earlier than changes dropped to $204 million, or $0.24 per diluted share, for Q1 2025 from $606 million for a similar three-month interval a 12 months in the past.
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Adjusted working earnings excluding impairments and different prices got here at $787 million for the January-March 2025 interval. Its adjusted working margin was 14.5 p.c.
Halliburton booked $356 million in pre-tax prices “because of severance prices, an impairment of belongings held on the market, an impairment on actual property services, and different objects”, it stated in a web based assertion.
Income declined to $5.4 billion for Q1 2025 from $5.8 billion for Q1 2024. Nevertheless, chair, president and chief govt Jeff Miller highlighted, “Our first quarter worldwide tender exercise was robust, Halliburton received significant built-in offshore work extending by means of 2026 and past.
“Clients awarded Halliburton a number of contracts that show the energy of our price proposition and the facility of our service high quality execution.
“I’m excited by the robust adoption of our groundbreaking applied sciences. We achieved the world’s first closed-loop, autonomous fracturing operation. I imagine this unlocks the following massive step in unconventionals”.
Halliburton’s North American operations generated $2.2 billion in income for Q1 2025, down 12 p.c YoY. “This decline was primarily pushed by decrease stimulation exercise in US Land and decreased completion device gross sales within the Gulf of America”, the corporate stated. “Partially offsetting these decreases have been greater synthetic elevate exercise and improved drilling companies in US Land and elevated stimulation exercise within the Gulf of America”.
Latin American income decreased 19 p.c YoY to $896 million. “This lower was primarily resulting from decrease exercise throughout a number of product service strains in Mexico and decreased completion device gross sales throughout the area”, Halliburton stated. “Partially offsetting these decreases have been elevated drilling-related companies in Argentina, Brazil, and the Caribbean”.
The Center East and Asia posted a 6 p.c income enhance to $1.5 billion. “This enchancment was resulting from greater exercise throughout a number of product service strains in Kuwait, elevated stimulation exercise and improved completion device gross sales in Saudi Arabia, and elevated fluid companies within the United Arab Emirates”, it stated. “Partially offsetting these will increase have been decrease nicely building exercise in Saudi Arabia and Australia, decreased completion device gross sales in Malaysia, and diminished drilling-related exercise in Oman”.
Europe and Africa additionally noticed a 6 p.c enhance in income to $775 million. “This enhance was primarily pushed by improved exercise throughout a number of product service strains in Norway, greater nicely building exercise in Namibia, in addition to improved completion instruments gross sales within the Caspian Space”, Halliburton stated. “Partially offsetting these will increase was decreased exercise throughout a number of product service strains in Senegal and Italy”.
Halliburton paid dividends per share of $0.17 and repurchased $250 million price of frequent inventory in Q1 2025.
To contact the writer, e mail jov.onsat@rigzone.com
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