Halliburton Company (NYSE:HAL) ended the year on a solid note, reporting higher fourth-quarter earnings and revenue as improved operating performance helped it beat Wall Street expectations.



The Houston-based company said fourth-quarter 2025 net income totaled $589 million, or 70 cents per diluted share. Excluding impairments, other charges, and tax-related adjustments, adjusted net income was $576 million, or 69 cents per diluted share.



Total revenue rose to $5.66 billion from $5.61 billion a year earlier. Operating income was $746 million, while adjusted operating income, excluding impairments and other charges, was $829 million. Operating margin was 13%, and adjusted operating margin was 15%.



Adjusted earnings of 69 cents per share topped analysts' estimates of 55 cents, while quarterly revenue of $5.657 billion also exceeded the consensus forecast of $5.412 billion.



<h2>Segment Performance</h2>



Halliburton's Completion and Production segment generated $3.27 billion in revenue during the fourth quarter, with operating income of $570 million. Revenue in the Drilling and Evaluation segment totaled $2.39 billion, while operating income was $367 million.



By geography, North America's revenue was $2.21 billion, down 7% sequentially. International revenue rose 7% from the third quarter to $3.50 billion.



In the international markets, Latin America revenue totaled $1.07 billion, Europe/Africa/CIS revenue was $928 million, and Middle East/Asia revenue reached $1.46 billion.



Halliburton generated $1.17 billion in operating cash flow during the quarter and reported free cash flow of $875 million.



During the fourth quarter, the company repurchased $250 million of its common stock, retired $382 million of its 3.8% senior notes due in November 2025, paid dividends of 17 cents per share, and spent $42 million on its SAP S/4HANA migration.



As of Dec. 31, 2025, Halliburton held $2.21 billion in cash and cash equivalents, while long-term debt totaled $7.16 billion.



<h2>Deals</h2>



Halliburton and VoltaGrid agreed to collaborate on distributed power generation solutions for data centers, with an initial rollout planned for the Middle East and delivery of 400 megawatts of modular natural gas systems targeted for 2028.



Halliburton also signed a framework agreement with Shell for umbilical-less tubing hanger services using its ROCS technology, launched the StreamStar wired drill pipe interface system, and introduced LOGIX unit vitality.



The company was awarded an Integrated Drilling Services contract by Shell Nigeria Exploration and Production Co., in collaboration with Sunlink Energies, to support offshore Nigeria's HI gas field development and the Nigeria LNG Train 7 project.



&#34;I am pleased with Halliburton's fourth-quarter performance and the way we closed out 2025. We outperformed our expectations, and it is clear that Halliburton's strategy and value proposition deliver differentiated results,&#34; CEO Jeff Miller said.



&#34;In North America, we will continue our Maximize Value strategy. I expect North America will be the first to respond when macro fundamentals improve.&#34;



HAL Price Action: Halliburton shares were up 3.71% at $33.25 during premarket trading on Wednesday. The stock is trading near its 52-week high of $33.72, according to Benzinga Pro data.



Photo via Shutterstock

Halliburton (NYSE: HAL) reported strong Q4 2025 earnings with a net income of $589 million and revenue of $5.66 billion, exceeding Wall Street expectations. North America revenue fell 7%, while international revenue rose 7%. The company generated $1.17 billion in operating cash flow and repurchased $250 million in stock. Halliburton announced collaborations with VoltaGrid and Shell, focusing on power generation solutions and tubing hanger services. CEO Jeff Miller expressed satisfaction with the performance and strategy, anticipating a recovery in North America as macro fundamentals improve.

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