Halliburton Warns Tariffs May Hurt Q2 Earnings

Halliburton reported a sharp drop in first-quarter 2025 net income to $204 million, down from $606 million a year earlier, as weakened North American drilling activity and falling oil prices weighed on results. Revenue fell 6.7% year-over-year to $5.42 billion, slightly surpassing analyst estimates, while adjusted earnings per share met forecasts at $0.60. Profit margins contracted due in part to $356 million in impairment and other charges. Halliburton warned that U.S. tariffs on imported steel and parts could reduce second-quarter earnings by 2 to 3 cents per share, particularly impacting its completion and production division. The company's shares fell as much as 8% after the announcement amid investor concerns about ongoing trade tensions and North American market weakness. Halliburton continues to focus on expanding its international operations and technological capabilities amid macroeconomic and policy uncertainties.