(Reuters) – Halliburton on Wednesday warned of softer activity in North America this year even as the oilfield giant beat analysts’ estimates for fourth-quarter profit helped by higher demand for drilling and pressure pumping services in the North Sea and Asia.
The tepid outlook echoed that of rival Schlumberger, who flagged a flat 2025 revenue as customers limited activity and spending due to an oversupply of oil.
Revenue from North America, which account for 39% of the company’s total revenue, fell 9% to $2.2 billion, while revenue from international markets gained 2.4%.
Completion and production services revenue eased 4.2%, while that from drilling and evaluation rose just 0.4%.
Overall revenue of $5.61 billion was below analysts’ average expectation of $5.63 billion, according to data compiled by LSEG.
Operating margins in the quarter shrank 1 basis point to 17%.
On an adjusted basis, the Houston-based company earned 70 cents per share in the quarter, compared with the average analyst estimate of 69 cents, according to data compiled by LSEG.
Shares of the company were down 0.5% at $29.38 in pre-market trading.
Share This:
More News Articles
