Halliburton’s Net Profit Drops Nearly Threefold in Q1
Halliburton Reports Nearly Threefold Drop in Q1 Net Profit
U.S. oilfield services company Halliburton Co. saw its net profit fall nearly threefold in the first quarter of 2025, although its revenue exceeded analysts’ expectations.
According to the company’s press release, net income for January–March totaled $204 million, down from $606 millionin the same period last year. Earnings per share dropped to $0.24 from $0.68 a year earlier.
Excluding one-time items, adjusted earnings per share were $0.60, in line with the consensus forecast from analysts surveyed by FactSet.
Quarterly revenue declined to $5.417 billion, compared to $5.804 billion in Q1 2024, but still exceeded the analysts’ forecast of $5.274 billion.
Revenue in the Completion and Production segment fell by 8% to $3.12 billion, while revenue in the Drilling and Evaluation segment declined 6% to $2.3 billion.
Revenue from North American operations dropped by 12%, totaling $2.24 billion for the quarter.
During the reporting period, Halliburton repurchased approximately $250 million worth of its own shares.
Halliburton shares were down 2.2% in premarket trading on Tuesday. Since the beginning of the year, the company’s market capitalization has declined by 19.4%, standing at $18.89 billion.
