Filing Flows › Halliburton (HAL) › Q2 2025
Halliburton (HAL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Halliburton (HAL) reported revenue of $5.5B for the second quarter 2025 (Q2 2025), -6% from a year earlier and +2% from the quarter before. Operating margin was 13.2%, net earnings $472M (8.6% of revenue).
Halliburton, Q2 2025: revenue $5.5B (-6% year over year), operating margin 13.2%, net earnings $472M, operating cash flow $896M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.5B | +2% | -6% |
| Operating profit | $727M | +69% | -30% |
| Net earnings | $472M | +131% | -33% |
| Operating cash flow | $896M | +138% | -17% |
| Free cash flow | $542M | +623% | -26% |
What changed
Revenue was $5.5B in Q2 2025, down 6% year over year and up 2% from the previous quarter. Services was the largest line at 71% of revenue. Services lost $0.28B year over year (down 7%), 86% of the total change.
Operating profit was $0.73B, a 13.2% margin (down 4.5 points year over year). Total costs fell 0% while revenue fell 6%. Net earnings were $0.47B, down 33% year over year. The effective tax rate was 21.4%.
Operating cash flow was $0.90B (down 17% year over year), 187% of net earnings. Non-cash charges added back $0.28B of depreciation and amortization. Working capital and other items added $0.13B. Capital expenditures of $0.35B left free cash flow of $0.54B.
Questions
What was Halliburton's revenue in the second quarter 2025?
Halliburton (HAL) reported revenue of $5.5B for the second quarter 2025 (Q2 2025), -6% from a year earlier and +2% from the quarter before.
Was Halliburton profitable in the second quarter 2025?
Operating profit was $727M (13.2% of revenue) and net earnings $472M.
Source: Halliburton 10-Q on SEC EDGAR.