Halliburton Co
NYSE:HAL
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Halliburton Co
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Halliburton Co
Halliburton is one of the world’s biggest oilfield services companies. It does not produce oil itself. Instead, it helps oil and gas producers find wells, drill them, complete them, and bring the oil or gas to the surface. Its main work includes drilling services, well construction, cementing, pressure pumping, and tools and software used to steer and monitor wells. Its customers are mainly oil and gas companies, from large integrated producers to smaller exploration and production firms, plus some national oil companies. Halliburton makes money by charging for equipment, labor, specialized tools, and service contracts tied to drilling and well completion projects. A lot of its business depends on how much its customers spend on drilling activity and on maintaining existing wells. What makes Halliburton’s role important is that it sits in the middle of the energy production chain. It sells the know-how and equipment needed to turn underground reserves into usable production, especially in technically difficult wells like shale and deepwater projects. That makes it a service provider to energy producers rather than a commodity producer itself.
Halliburton is one of the world’s biggest oilfield services companies. It does not produce oil itself. Instead, it helps oil and gas producers find wells, drill them, complete them, and bring the oil or gas to the surface. Its main work includes drilling services, well construction, cementing, pressure pumping, and tools and software used to steer and monitor wells.
Its customers are mainly oil and gas companies, from large integrated producers to smaller exploration and production firms, plus some national oil companies. Halliburton makes money by charging for equipment, labor, specialized tools, and service contracts tied to drilling and well completion projects. A lot of its business depends on how much its customers spend on drilling activity and on maintaining existing wells.
What makes Halliburton’s role important is that it sits in the middle of the energy production chain. It sells the know-how and equipment needed to turn underground reserves into usable production, especially in technically difficult wells like shale and deepwater projects. That makes it a service provider to energy producers rather than a commodity producer itself.
Revenue: Halliburton reported second-quarter revenue of $5.7 billion, up 6% sequentially, with adjusted operating margin at 12%.
International strength: International revenue hit $3.4 billion, up 6% year over year, and management said it was the highest second-quarter international revenue in more than a decade despite Middle East disruption.
North America recovery: North America revenue was $2.3 billion, flat year over year but up 7% sequentially, with management seeing improving activity, better pricing and more technology adoption.
Guidance: For Q3, Halliburton expects C&P revenue to be flat to down 2% and margin to improve 125 to 175 basis points; D&E revenue to be down 3% to 5% with margin up 25 to 75 basis points.
Cash return: The company generated $824 million of operating cash flow, $668 million of free cash flow, and repurchased about $200 million of stock in the quarter.
Outlook: Management stayed constructive on 2026 and beyond, saying international growth outside the Middle East should be low double digits this year and that the company may be ahead of schedule on its international growth-engine target.
