Oilfield services provider Halliburton Co. (HAL) reported Monday a profit for the second quarter that edged down from last year, reflecting lower margins amid rising costs and pricing pressure in production enhancement services. Both earnings per share from continuing operations and quarterly revenues topped analysts' expectations. The company said it expects activity increases and market share growth going forward.
"I am pleased with our second quarter results, which set a new revenue record for the total company and all three of our international regions. We continue to be successful in executing our strategy of market share growth while maintaining a focus on industry-leading returns," Chairman, President and CEO Dave Lesar said in a statement.
The Houston, Texas-based company reported net income of $737 million or $0.79 per share for the second quarter, marginally lower than $739 million or $0.80 per share in the prior-year quarter.
Income from continuing operations for the latest quarter was $745 million, or $0.80 per share. Results include $20 million, after-tax, or $0.02 per share in strategic initiative costs.
On average, 29 analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the second quarter. Analysts' estimates typically exclude special items.
In the previous quarter, Halliburton reported net income from continuing operations of $635 million or $0.69 per share, and adjusted income from continuing operations of $826 million or $0.89 per share.
Total revenue for the quarter surged to $7.23 billion from $5.94 billion in the same quarter last year, and topped twenty Wall Street analysts' consensus estimate of $6.96 billion. Revenues for the first quarter were $6.87 billion.
Revenues were boosted by revenue and operating income growth across most of the segments and international regions.
Quarterly revenues for completion and production segment climbed to $4.46 billion from $3.62 billion and drilling and evaluation segment revenues grew to $2.77 billion from last year's $2.32 billion.
International revenues grew 24 percent from last year, reflecting key strategic market share gains, continued capacity additions, and strong utilization.
Though North America revenues grew 20 percent, margins were negatively impacted by rising costs and pricing pressure in production enhancement services.
"From a global perspective, we achieved record revenues in eight of our product service lines, with four of them - Cementing, Completion Tools, Multi-Chem, and Testing and Subsea - generating record operating income as well," Lesar noted.
"Going forward, we intend to maintain our market leading position in North America, strengthen our international margins, and grow our market share in deepwater and in underserved international markets," Lesar added.
HAL closed Friday's regular trading session at $30.77, down $0.05 on a volume of 27.48 million shares, higher than the three-month average volume of 15.54 million shares. In the past 52-week period, the stock has been trading in a range of $26.28 to $57.77.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.