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Halliburton 8-K Report, Financial Results (Oct 21, 2025)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed October 21, 2025
Period End
October 21, 2025
Security
HAL
In the record · 2016–202610-K1110-Q338-K122

HAL filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 122 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’16May ’16
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · May ’22May ’22
  4. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed October 21, 2025. Cited figures are marked; the original filing is the authoritative source.

Halliburton Company (NYSE: HAL) reported third-quarter 2025 results on October 21, 2025, in a press release furnished as Exhibit 99.1.

Net income attributable to the Company was $18 milliona, or $0.02 per diluted share, compared with $472 million, or $0.55 per diluted share, in the second quarter of 2025. Excluding impairments and other charges and other items, adjusted net income was $496 million, or $0.58 per diluted share. Total revenue was $5.6 billion, compared with $5.5 billion in the second quarter, and operating income was $356 million, compared with $727 million.

Adjusted operating income, excluding impairments and other charges of $392 millionb, was $748 million, and operating margin was 6% against an adjusted operating margin of 13%. The quarter included a $540 million total charge for impairments and other charges and other items, which the press release attributes largely to severance costs of $169 million, fixed and other asset write-offs of $115 million, and impairment of assets held for sale of $96 million. Income tax provision included a $125 million tax expense tied to a valuation allowance on United States foreign tax credits, which the filing links to the One Big Beautiful Bill Act.

Cash flow from operations was $488 millionc and free cash flow was $276 million. The company repurchased approximately $250 million of common stock and paid dividends of $0.17 per share. Management stated it took steps expected to deliver estimated savings of $100 million per quarter, reset its 2026 capital budget, and idled equipment that no longer meets its return expectations.

By segment, Completion and Production revenue was $3.2 billiond with operating income of $514 million, flat sequentially, while Drilling and Evaluation revenue was $2.4 billion with operating income of $348 million, up $36 million sequentially. Operating income was adversely affected by rig reductions in Saudi Arabia. Balance sheet items shown include cash and equivalents of $2.03 billion and long-term debt of $7.16 billion at September 30, 2025.

02—Key points

Key Highlights

  1. Q3 2025 net income attributable to the Company was $18 million, or $0.02 per diluted share, versus $472 million, or $0.55 per diluted share, in Q2 2025.
  2. Adjusted net income was $496 million, or $0.58 per diluted share, excluding impairments and other charges and other items.
  3. Total revenue was $5.6 billion, up from $5.5 billion in Q2 2025; operating income fell to $356 million from $727 million.
  4. Impairments and other charges of $392 million were recorded, including severance costs of $169 million and fixed and other asset write-offs of $115 million.
  5. A $125 million tax expense tied to a valuation allowance on United States foreign tax credits, linked to the One Big Beautiful Bill Act, reduced net income.
  6. Cash flow from operations was $488 million and free cash flow was $276 million; the company repurchased about $250 million of stock and paid $0.17 per share in dividends.
  7. Management cited estimated savings of $100 million per quarter and a reset of the 2026 capital budget, and idled equipment that no longer meets return expectations.

03—Questions

Frequently Asked Questions

  1. How did Halliburton perform in the third quarter of 2025?

    Revenue was $5.6 billion, but GAAP net income was only $18 million, or $0.02 per diluted share, due to $392 million of impairments and other charges and a $125 million tax valuation allowance. Excluding these items, adjusted net income was $496 million, or $0.58 per diluted share.

  2. What drove the large charges in the quarter?

    The company recognized $392 million of impairments and other charges, including severance costs of $169 million, fixed and other asset write-offs of $115 million, and impairment of assets held for sale of $96 million. Total charges of $540 million also included a $23 million Argentina investment impairment in other, net.

  3. How did the business segments perform?

    Completion and Production generated $3.2 billion of revenue and $514 million of operating income, flat sequentially, with rig reductions in Saudi Arabia weighing on results. Drilling and Evaluation generated $2.4 billion of revenue and $348 million of operating income, up $36 million sequentially.

  4. What actions is management taking to improve results?

    Management said it took steps expected to deliver estimated savings of $100 million per quarter, reset its 2026 capital budget, and idled equipment that no longer meets its return expectations. It also stated it remains committed to returning cash to shareholders.

  5. How much cash did Halliburton generate and return to shareholders?

    Cash flow from operations was $488 million and free cash flow was $276 million in the quarter. The company repurchased approximately $250 million of common stock and paid dividends of $0.17 per share.

04—Continue

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