In Halliburton’s third quarter results statement, which was posted on the company’s site on Tuesday, Halliburton Chairman, President, and CEO Jeff Miller said he is “pleased” with Halliburton’s third quarter performance.
In the statement, the company announced a net income of $18 million, or $0.02 per diluted share, and adjusted net income, excluding “impairments and other charges” and other items, of $496 million, or $0.58 per diluted share, for the third quarter. Net income for the second quarter was $472 million, or $0.55 per diluted share, Halliburton highlighted in the statement.
The company went on to note that Halliburton’s total revenue for the third quarter was $5.6 billion, compared to total revenue of $5.5 billion in the second quarter. Operating income was $356 million in the third quarter, compared to operating income of $727 million in the second quarter, Halliburton highlighted, adding that adjusted operating income in the third quarter, excluding “impairments and other charges”, was $748 million.
Halliburton’s stock price opened at $24.43 on Tuesday and closed at $25.24. The stock opened at $22.30 on Monday and closed at $22.62.
“We delivered total company revenue of $5.6 billion dollars and adjusted operating margin of 13 percent,” Miller said in the statement.
“We also took steps that will deliver estimated savings of $100 million dollars per quarter, reset our 2026 capital budget and idled equipment that no longer meets our return expectations,” he added.
In the statement, Halliburton pointed out that international revenue in the third quarter was $3.2 billion, which it described as “flat when compared to the second quarter”.
Latin America revenue in the third quarter was $996 million, Halliburton revealed, adding that this was an increase of two percent sequentially. This increase was primarily driven by higher project management activity across the region and increased drilling services in Argentina, according to the company, which noted that decreased activity across multiple product service lines in Mexico and lower completion tool sales in Brazil partially offset these increases.
Europe/Africa/CIS revenue in the third quarter of 2025 was $828 million, Halliburton reported in the statement, dubbing the figure “flat sequentially”. These results were primarily driven by improved completion tool sales in Norway, and increased drilling-related services in Namibia, according to Halliburton. Offsetting these increases were lower completion tool sales in the Caspian Area and lower fluid services across Europe, the company said in the statement.
Middle East/Asia revenue in the third quarter of 2025 was $1.4 billion, according to Halliburton, which highlighted that this was a decrease of three percent sequentially. This decrease was primarily driven by lower activity across multiple product service lines in Saudi Arabia, the company said in the statement. Partially offsetting this decrease were improved pressure pumping services in Qatar, increased artificial lift activity in Kuwait, and higher completion tool sales and improved fluids services in Asia, Halliburton added.
The company said North America revenue in the third quarter was $2.4 billion, which it pointed out was an increase of five percent when compared to the second quarter. These results were primarily driven by increased stimulation activity in U.S. Land and Canada, and higher completion tool sales and increased wireline activity in the Gulf of America, Halliburton noted in the statement. Partially offsetting these increases were lower cementing activity in U.S. Land and decreased stimulation activity in the Gulf of America, the company stated.
“In the international market, our value proposition is winning with customers, we are demonstrating differentiated performance both on and offshore, and our growth engines are on track,” Miller said in Halliburton’s results statement.
“In North America, we are executing our strategy to maximize value – this means we are prioritizing returns, technology leadership, and working with leading operators. I am confident that our strategy execution will drive further outperformance,” he added.
“We are committed to returning cash to shareholders, maintaining cost and capital discipline, and investing in differentiated technologies that drive long-term performance,” Miller went on to state.
Halliburton highlighted in its latest results statement that, during the third quarter, the company; repurchased approximately $250 million of its common stock, paid dividends of $0.17 per share, spent $50 million on SAP S4 migration, and incurred a total charge of $540 million related to “impairments and other charges” and other items.
In a release posted on its site in July 2023, Halliburton announced that, during the second quarter of that year, the company “kicked off its migration to SAP S4”, which it said will take place over the next three years.
“This new system will provide important efficiency benefits, cost savings, visibility to our operations, and advanced analytics that will benefit Halliburton and its customers,” the company noted at the time.
“We expect this upgrade to payback in three years after an investment of $250 million. For the second quarter 2023, we spent $13 million, or about $0.01 per diluted share, which is included in our results,” Halliburton added in that statement.
In Halliburton’s second quarter 2025 results statement, which was posted on the company’s site in July this year, Miller warned, “what I see tells me the oilfield services market will be softer than I previously expected over the short to medium term”.
“We will of course take action to address this near term softness, and we remain fully committed to our shareholder returns framework,” he added in that statement.
“In international markets, while activity reductions in a few large markets will likely overshadow the solid performance of other geographies, I am confident our strategy is the right one, and our growth engines, including unconventionals, drilling, production services and artificial lift, remain key to that strategy,” he continued.
“In North America, my customer conversations tell me technology and service execution are key to maximizing the value of their assets and I believe Halliburton has unmatched capability to deliver both of these at scale, which is why I expect Halliburton to continue to outpace our competitors in this important market,” Miller went on to state.
In that statement, Miller said, “Halliburton today is more differentiated, with deeper technology advantages to address our customers’ requirements, and more collaborative than ever before”.
“I believe our value proposition, to collaborate and engineer solutions to maximize asset value for our customers, is a powerful driver of both customer and shareholder value,” he added.
To contact the author, email andreas.exarheas@rigzone.com
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