Halliburton Company (NYSE: HAL) reported Q1 2025 net income of $204 million ($0.24 per diluted share), down sharply from $606 million ($0.68 per share) in Q1 2024. On an adjusted basis, net income came in at $517 million ($0.60 per share), a 24% drop year-over-year. Total revenue declined 7% to $5.4 billion, and adjusted operating income was $787 million, yielding a 14.5% margin—reflecting weaker North American pressure pumping demand and lower completion tool sales, partially offset by Middle East strength.

By segment, Completion and Production revenue fell 8% YoY, driven by softness in U.S. pressure pumping, while Drilling and Evaluation slid 6%, hurt by activity reductions in Mexico and the Middle East. North America revenue declined 12% YoY to $2.2 billion, with U.S. Land facing continued headwinds. However, international markets remained more resilient, with Europe/Africa and Middle East/Asia both posting 6% revenue growth. Notably, strong tender wins and robust activity in Saudi Arabia, Kuwait, and Norway underpin a growing international order book.

Despite macro pressures, Halliburton is betting on automation and digital innovation to drive the next growth phase. The company highlighted the world’s first autonomous fracturing operation and a contract with Petrobras leveraging intelligent RSS and automation platforms. New tools like the EcoStar® electric safety valve and automated drilling systems for Equinor signal a tech-forward pivot. CEO Jeff Miller emphasized that these innovations, alongside disciplined execution and international momentum, will create long-term shareholder value even in a volatile oilfield environment.