Earnings beat fails to lift the stock
Halliburton Company (NYSE:HAL) reported second-quarter results ahead of market expectations on Tuesday, delivering better-than-forecast earnings and revenue despite a negative share price reaction in pre-market trading.
Adjusted earnings came in at $0.55 per share, slightly above the analyst consensus of $0.54. Revenue reached $5.7 billion, exceeding expectations of $5.5 billion and increasing 4% from $5.5 billion in the second quarter of 2025.
Even with the earnings beat, Halliburton shares declined 3.1% following the announcement.
Both operating divisions delivered sequential growth
The oilfield services provider generated an adjusted operating margin of 12% during the quarter.
Revenue from the Completion and Production segment totaled $3.2 billion, representing a 6% sequential increase, supported by stronger stimulation activity across the Western Hemisphere and improved well intervention services in Asia.
Drilling and Evaluation revenue rose 5% from the previous quarter to $2.5 billion, driven by higher demand for drilling-related services and increased wireline activity in North America and the Europe/Africa region.
“I am pleased with Halliburton’s performance this quarter, and believe the global outlook for Halliburton is strong. I expect our differentiated technology and value proposition set the stage for revenue growth and margin expansion,” said Jeff Miller, Chairman, President and CEO.
North America and Europe/Africa lead growth
North America generated revenue of $2.3 billion during the quarter, up 7% sequentially.
International revenue increased 5% to $3.4 billion, with Europe/Africa delivering the strongest regional performance after revenue climbed 19% quarter over quarter to $1.0 billion.
By contrast, revenue in the Middle East and Asia declined 2% to $1.3 billion as lower activity levels in Kuwait, Iraq and Qatar reflected the impact of ongoing geopolitical tensions.