Halliburton beats on earnings and revenue, holds 2027 targets steady

Revenue came in at $5.70B against expectations of $5.64B, with per-share profit of $0.60

Halliburton reported third-quarter earnings per share of $0.60, a cent above expectations, on revenue of $5.70B, above the $5.64B expected.

The company bought back about $250 million of its stock during the quarter and paid a dividend of $0.17 per share. Chairman, President and Chief Executive Jeff Miller said ongoing efforts to restore production and rebuild inventories should drive multi-year demand growth for oilfield services.

For 2027, Halliburton is targeting mid-single digit revenue growth and operating margins of about 15%, based on an assumption that the North America market stays flat. Any recovery in North America hydraulic fracturing is treated as additional upside rather than something built into the targets.

That framing means Halliburton is not counting on a near-term rebound in North America to hit its goals, leaning instead on international activity and the longer-term case for rebuilding production and inventories. This quarter's beat on earnings and revenue, along with the buybacks, offers some near-term support for that thesis without changing the North America backdrop. Whether international project activity can keep offsetting a US market that is not expected to turn higher on its own remains the open question for the stock.