Q3 25 EPS
$0.58
BEAT +16.94%
Est. $0.50
Q3 25 Revenue
$5.60B
BEAT +3.91%
Est. $5.39B
vs S&P Since Q3 25
+63.6%
BEATING MARKET
HAL +71.0% vs S&P +7.4%
Market Reaction
Did HAL Beat Earnings? Q3 2025 Results
Halliburton delivered a clear beat in Q3 2025, posting adjusted earnings of $0.58 per diluted share against a consensus estimate of $0.50, a 16.94% positive surprise, while revenue of $5.60 billion topped expectations of $5.39 billion by 3.91%, even … Read more Halliburton delivered a clear beat in Q3 2025, posting adjusted earnings of $0.58 per diluted share against a consensus estimate of $0.50, a 16.94% positive surprise, while revenue of $5.60 billion topped expectations of $5.39 billion by 3.91%, even as total sales slipped 1.7% year over year amid a softening oilfield services market. The headline numbers masked considerable turbulence beneath the surface, as a $540 million charge tied to severance costs, asset write-offs, an Argentine investment impairment, and a $125 million tax hit from the newly enacted OBBBA legislation drove GAAP net income to just $18 million, or $0.02 per diluted share. The adjusted results, however, pointed to resilient underlying operations, with North America emerging as the standout region on 5% sequential revenue growth from stronger U.S. Land stimulation activity. Looking ahead, CEO Jeff Miller outlined proactive cost measures expected to generate $100 million in quarterly savings, a reset 2026 capital budget, and idled underperforming equipment, moves that, combined with growing analyst optimism about a cyclical sector recovery, suggest management is positioning Halliburton for improved returns rather than chasing volume.
Key Takeaways
- • Higher completion tool sales and increased artificial lift activity in North America
- • Improved cementing activity in Africa and Latin America
- • Increased stimulation activity in US Land and Canada
- • Higher project management and improved wireline activity in Latin America
- • Increased drilling services in North America and Europe/Africa
HAL YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
HAL Revenue by Segment
With YoY comparisons, source: SEC Filings
HAL Revenue by Geography
With YoY comparisons, source: SEC Filings
“I am pleased with Halliburton's third quarter performance. We delivered total company revenue of $5.6 billion dollars and adjusted operating margin of 13%. We also took steps that will deliver estimated savings of $100 million dollars per quarter, reset our 2026 capital budget and idled equipment that no longer meets our return expectations.”
— Jeff Miller, Q3 2025 Earnings Press Release
HAL Earnings Trends
HAL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HAL EPS Trend
Earnings per share: estimate vs actual
HAL Revenue Trend
Quarterly revenue: estimate vs actual
HAL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.55 | — | $5.40B | +1.80% |
| Q4 25 BEAT FY | $0.46 | $0.69 | +49.12% | $5.70B | +5.60% |
| FY Full Year | $2.26 | — | — | $22.20B | +1.26% |
| Q3 25 BEAT | $0.50 | $0.58 | +16.94% | $5.60B | +3.91% |
| Q2 25 MISS | $0.55 | $0.55 | -0.72% | $5.50B | +1.68% |
| Q1 25 MISS | $0.60 | $0.60 | -0.43% | $5.40B | +2.26% |