rewrite this title and make it good for SEOHalliburton CEO’s Sobering Outlook Overshadows Q2 Performance

Halliburton Co. (NYSE:HAL) shares traded lower Tuesday despite reporting second-quarter 2025 results that topped revenue estimates and met earnings expectations. The decline followed cautious remarks from CEO Jeff Miller, who warned of a softer-than-expected near-term oilfield services market.

The company reported adjusted earnings of 55 cents per diluted share, which aligns with analyst forecasts. Revenue totaled $5.51 billion, slightly above the $5.42 billion consensus estimate.

Operating income rose to $727 million from $431 million in the prior quarter. Operating margin improved to 13%, compared with about 8% in the previous period. Free cash flow was approximately $582 million, and cash flow from operations totaled $896 million.

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“We are more differentiated, more collaborative, and better positioned than ever before,” said CEO Jeff Miller. However, he warned that “the oilfield services market will be softer than I previously expected over the short to medium term.”

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Miller added that activity reductions in a few large international markets may overshadow strength in other geographies, but reaffirmed the company’s long-term strategy around growth engines such as drilling, unconventionals, artificial lift, and production services.

Completion and Production revenue rose 2% sequentially to $3.2 billion, while operating income dipped 3% to $513 million. Revenue was lifted by strong pressure pumping and completion tool sales in the Western Hemisphere but pressured by lower pricing for stimulation services in U.S. Land.

Drilling and Evaluation revenue also increased 2% to $2.3 billion, but operating income fell 11% to $312 million due to seasonal declines in software sales and higher mobilization costs across product lines.

North America revenue remained flat at $2.3 billion, supported by gains in Canada and U.S. cementing, offset by weaker activity in artificial lift and wireline services in the Gulf of America.

International revenue rose 2% sequentially to $3.3 billion:

Latin America: Up 9% to $977 million, driven by higher activity in Mexico, Brazil, and Argentina.

Europe/Africa: Up 6% to $820 million, driven by stronger operations in Norway.

Middle East/Asia: Down 4% to $1.5 billion, mainly due to lower activity in Saudi Arabia and Kuwait.

During the quarter, Halliburton repurchased $250 million in common stock, paid a dividend of 17 cents per share, and invested $32 million in its SAP S4 system migration.