Halliburton Company reported its financial results for the third quarter of 2025, revealing total revenue of $5.6 billion, a decrease of 2% from $5.7 billion in the same quarter of 2024. The company's net income attributable to shareholders was $18 million, or $0.02 per share, compared to $571 million, or $0.65 per share, in the prior year. The decline in profitability was attributed to significant impairments and other charges totaling $392 million, which included severance costs and asset write-offs, compared to $116 million in the previous year.
In the nine months ending September 30, 2025, Halliburton's total revenue reached $16.5 billion, down 5% from $17.3 billion in the same period of 2024. The Completion and Production segment generated $9.5 billion, a 6% decrease, while the Drilling and Evaluation segment reported $7.0 billion, a 3% decline. The overall operating income for the nine-month period was $1.5 billion, a significant drop from $2.9 billion in 2024, reflecting the impact of lower activity levels and pricing pressures in key markets.
Strategically, Halliburton has been focusing on enhancing its operational efficiency and reducing costs in response to market conditions. The company has initiated a program to reduce variable and fixed cash costs, which is expected to save approximately $100 million per quarter. Additionally, Halliburton is in the process of migrating to an SAP S4 system, with expenses related to this upgrade amounting to $112 million in the first nine months of 2025. The company also repurchased 11.3 million shares of its common stock during the third quarter, with approximately $2.3 billion remaining authorized for future repurchases.
Geographically, Halliburton's revenue from North America was relatively flat at $2.4 billion, while international revenue decreased by 2%, primarily due to lower activity in Mexico and Saudi Arabia. The company reported increased activity in Norway and improved fluid services in the Middle East, which partially offset declines in other regions. As of September 30, 2025, Halliburton employed approximately 47,000 people and operated in over 70 countries.
Looking ahead, Halliburton anticipates continued challenges in the oil and gas market, with expectations of reduced spending by customers in response to geopolitical tensions and fluctuating oil prices. The company expects its full-year 2025 international revenue to decline, particularly in Saudi Arabia and Mexico, while anticipating growth in Brazil and Norway. Halliburton remains committed to maintaining capital discipline and returning cash to shareholders, with plans to reduce capital expenditures by 30% in 2026 in light of expected market conditions.
About HALLIBURTON CO
Halliburton Company is a global provider of energy services and products, specializing in well construction, completion, and production optimization. Its core segments include Completion and Production, offering cementing, stimulation, and artificial lift, and Drilling and Evaluation, providing drilling fluids, tools, and digital solutions. Serving major oil and gas producers worldwide, Halliburton leverages technology, innovation, and a diverse workforce to maximize asset value and efficiency in the energy industry.
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