Halliburton Q4 Earnings Call Highlights

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Halliburton (NYSE:HAL) executives told investors the institution finished 2025 with stronger-than-expected fourth-quarter performance, driven by higher-than-anticipated enactment and execution successful some North America and planetary completion and production. Management besides framed 2026 arsenic a “rebalancing” twelvemonth for lipid markets, with mean softness expected successful North America and unchangeable conditions internationally.

Chairman, President and CEO Jeff Miller said Halliburton delivered full institution gross of $22.2 cardinal successful 2025 and an adjusted operating borderline of 14%. International gross totaled $13.1 billion, down 2% twelvemonth implicit year, portion North America gross was $9.1 billion, down 6%.

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Miller highlighted currency procreation and superior returns during the year, including $2.9 cardinal of currency travel from operations and $1.9 cardinal of escaped currency flow. Halliburton repurchased $1 cardinal of communal banal successful 2025 and returned 85% of escaped currency travel to shareholders, which Miller said reduced the company’s stock number to its lowest level successful 10 years.

Executive Vice President and CFO Eric Carre reported fourth-quarter 2025 gross of $5.7 billion, level sequentially compared with the 3rd quarter. Adjusted operating income was $829 million, translating to a 15% adjusted operating margin. Reported nett income per diluted stock was $0.70, portion adjusted nett income per diluted stock was $0.69.

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Halliburton generated $1.2 cardinal of currency travel from operations successful the 4th and $875 cardinal of escaped currency flow. The institution repurchased $250 cardinal of communal banal successful the 4th quarter. For the afloat year, Carre said Halliburton bought backmost astir 42 cardinal shares astatine an mean terms of $23.80 per share.

By segment, Completion and Production gross successful the 4th fourth was $3.3 billion, level sequentially. Operating income roseate 11% from the 3rd 4th to $570 million, with operating borderline of 17%. Carre said results benefited from higher year-end completion instrumentality income globally, partially offset by little stimulation enactment successful the Western Hemisphere, portion operating income improved owed to enactment mix.

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In Drilling and Evaluation, gross was $2.4 billion, besides level sequentially. Operating income accrued 5% to $367 million, and operating borderline was 15%. Carre attributed the premix payment to higher wireline enactment successful the Eastern Hemisphere and year-end bundle sales, offset by little fluid services successful North America.