• Halliburton reported second quarter 2025 results showing declines in revenue, sales, and net income compared to the same period last year, while also announcing ongoing share repurchases and a leadership change in the accounting function.
• Despite weaker financial results, the company continued to execute its share buyback program, highlighting a commitment to returning capital to shareholders even amid softer operational performance.
• We'll now assess how the combination of lower earnings and continued share repurchases may affect Halliburton's investment narrative going forward.

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Halliburton Investment Narrative Recap

To be a Halliburton shareholder, you need to believe in the company's ability to leverage technology and international contract wins to drive long-term growth despite cyclical pressures on revenue and earnings. The recent second quarter results confirm ongoing weakness in both sales and net income, but these latest figures do not materially change the central short-term catalyst: success in international markets. Persistent revenue declines remain the most pressing risk, particularly as North American and Latin American operations face headwinds.

The latest share buyback announcement stands out, with Halliburton repurchasing nearly 12 million shares for US$250 million this quarter. While this reinforces management’s ongoing focus on shareholder returns, it arrives at a time when earnings and revenue are sliding, underlining the importance of monitoring the balance between capital returns and underlying business health. Investors should consider how this approach could shape both the valuation and resilience of the company if operational challenges persist...

Read the full narrative on Halliburton (it's free!)

Halliburton's outlook forecasts $22.8 billion in revenue and $2.4 billion in earnings by 2028. This implies a 0.4% annual revenue decline and a $0.3 billion increase in earnings from $2.1 billion today.

Uncover how Halliburton's forecasts yield a $29.34 fair value, a 37% upside to its current price.

Exploring Other Perspectives

Twelve community fair value estimates for Halliburton range widely from US$20.68 to US$44.56, reflecting strong differences of opinion within the Simply Wall St Community. While many see opportunity based on the company's technology and international growth focus, persistent revenue declines remind us to examine potential risks to future performance as well as possible upside. Explore multiple viewpoints to understand what matters most to your own analysis.

Explore 12 other fair value estimates on Halliburton - why the stock might be worth just $20.68!

Build Your Own Halliburton Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Halliburton research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Halliburton research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Halliburton's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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