On July 21, Halliburton fell 5.01% in regular trading, trading at $32.87/share, with turnover of $250 million. The decline followed the company's Q2 earnings release before the opening bell.

Halliburton reported Q2 adjusted EPS of $0.55, barely beating the $0.54 consensus estimate, while revenue of $5.714 billion topped the $5.486 billion expectation. However, Q2 operating profit declined 6% year-over-year, missing market expectations, as the ongoing Iran conflict — now in its fifth month — significantly curtailed Middle East activity. Net income rose to $534 million from $472 million a year earlier, supported by stable demand in Latin America, Europe, and Africa.

During the earnings call, management guided Q3 completion and production segment revenue flat to down 2% sequentially, with Latin America, Europe, and Africa revenues expected to dip slightly. The CEO noted Middle East operations are recovering from conflict lows but the pace remains subject to daily developments. The company projected completion and production margin improvement of 125-175 basis points sequentially, while drilling and evaluation margins are expected to improve 25-75 basis points.

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