Thank you for participating in today’s conference call. Jeff Miller expressed confidence in Halliburton’s international business outlook and its collaborative value proposition. The company’s drilling technology is a differentiator, driving success in integrated projects globally. The market’s evolution favors Halliburton’s growth engines, with opportunities in unconventionals, drilling, production services, and artificial lift. The company is uniquely positioned to lead and thrive through its collaborative strategy.
Regarding Venezuela, Halliburton is eager to return once commercial and legal terms are resolved, including payment certainty. Progress is underway, with early steps in place, and the company is well-prepared to grow its business once conditions are favorable. The market structure is evolving to favor Halliburton’s strengths, with consistent international growth in unconventional drilling and intervention aligned with the company’s expertise.
In North America, Halliburton delivered a strong fourth quarter but expects revenue to decline high single digits in 2026 due to reduced customer activity in land operations and stacking uneconomic fleets. The company prioritizes returns over market share, focusing on developing technology to improve recovery and drilling efficiency. By maximizing value and offering differentiated technology, Halliburton aims to deliver value for customers and shareholders.
The company also provided financial results for Q4 2025, reporting $5.7 billion in total revenue, $829 million in adjusted operating income, and $875 million in free cash flow. Halliburton repurchased $250 million of common stock during the quarter and expects to complete the SAP migration project in Q4 2026. The company anticipates a normalized effective tax rate of approximately 21% for Q1 and the full year 2026. Capital expenditures for the year are expected to be around $1.1 billion.
Overall, Halliburton is confident in its international business, collaborative strategy, and technology offerings. The company sees opportunities for growth in Venezuela and other international markets, with a focus on maximizing value, delivering superior technology, and capitalizing on future growth opportunities. The company remains optimistic about its outlook for 2026 and is committed to delivering leading returns for its stakeholders.
Read more at Yahoo Finance: Halliburton (HAL) Q4 2025 Earnings Call Transcript