Halliburton closed out 2025 with a strong fourth quarter, demonstrating improved profitability and cash flow generation, driven by international business strength and strategic execution.
Net income of $0.70 per diluted share, a significant increase from $0.02 in Q3 2025.
positiveAdjusted operating income increased to $829 million from $748 million in Q3 2025.
positiveCash flow from operations of $1.2 billion and free cash flow of $875 million in Q4 2025.
positiveInternational revenue increased 7% sequentially to $3.5 billion.
positiveFull year 2025 revenue decreased to $22.2 billion from $22.9 billion in 2024.
negativeFull year 2025 operating income decreased to $2.3 billion from $3.8 billion in 2024.
negativeNorth America revenue decreased 7% sequentially to $2.2 billion.
attentionSignificant 'Impairments and other charges' of $831 million in full year 2025, impacting reported operating income.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Completion and Production | $3268000.0B | $3178000.0B | — | 28.9% |
Drilling and Evaluation | $2389000.0B | $2377000.0B | — | 21.1% |
North America | $2207000.0B | $2213000.0B | -0.3% | 19.5% |
Middle East/Asia | $1456000.0B | $1649000.0B | -8.3% | 12.9% |
Latin America | $1066000.0B | $995000.0B | +7.1% | 9.4% |
Europe/Africa/CIS | $928000.0B | $795000.0B | +16.7% | 8.2% |
| Total Revenue | $11314000.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Halliburton's strategy and value proposition deliver differentiated results.
International business is strong, with collaborative value proposition winning, technology delivering, and growth engines aligned with market evolution.
Expect North America to be the first to respond when macro fundamentals improve, continuing the 'Maximize Value' strategy.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.