Halliburton’s international gains offset weaker North American revenue

Halliburton ($HAL) reported quarterly revenue of $5.7 billion, broadly unchanged from the preceding quarter. North American revenue fell 5% sequentially to $2.2 billion, while international revenue increased 3% to $3.5 billion. GAAP net income was $417 million, or $0.50 per share, compared with $534 million and $0.64 previously. Adjusted earnings improved to $501 million, or $0.60 per share, from $461 million and $0.55.

Operating cash flow totaled $368 million and free cash flow was $156 million. Management’s initial 2027 view calls for mid-single-digit revenue growth and an operating margin of approximately 15%, an improvement of about two percentage points. That expectation assumes flat North American activity rather than a recovery in that market. The outlook remains forward-looking, and the difference between GAAP and adjusted earnings is important when judging the latest quarter’s underlying direction.

Sources:

• Halliburton — issuer results release