Club holding Halliburton (HAL) reported stronger-than-expected first-quarter results before the bell Tuesday, validating our investment in the oilfield services company as it capitalizes on years of underinvestment in drilling capacity. Total revenue rose 33% year over year to $5.68 billion, topping analyst expectations of $5.5 billion, according to Refinitiv. Earnings per share (EPS) more than doubled on an annual basis, to 72 cents, exceeding the Refinitiv estimate of 68 cents. Bottom line Halliburton’s results — and management’s associated commentary — strengthened our conviction in the company. In addition to its top-and-bottom line beats, Halliburton also posted better-than-anticipated operating margin and operating cash flow. It wasn’t all perfect. Halliburton’s free cash flow disappointed. However, Halliburton CEO Jeff Miller stressed there’s been no change to the company’s longer-term expectations around strong free cash flow generation, which supports capital returns to shareholders via dividends and buybacks. “Everything I see today points to more cash to shareholders,” Miller said on Tuesday’s earnings call, expressing the sentiment on multiple occasions during the presentation and Q & A with analysts. Despite the quality print, shares of Halliburton fell more than 3% in midmorning trading, to just over $33 each. A few factors could be motivating the sellers. Crude prices fell more than 2% Tuesday, which is helping make energy the worst-performing sector in the S & P 500 on a down day for the index. Additionally, Halliburton had been among the best-performing Club stocks over the past month, so there may also be some profit-taking afoot. Guidance Halliburton’s overall outlook is constructive, as Miller said the company continues to expect customer spending to grow in 2023 and beyond. In North America, specifically, he reiterated that customer spending is on track to grow at least 15% this year. “At today’s oil prices, I believe that our customers will execute their activity plans and the market for highly efficient equipment and quality services will remain tight,” Miller said. He added there’s been no change to his belief that a multi-year boom is underway for oilfield services firms. On a segment-by-segment basis, Halliburton CFO Eric Carre said its revenue from drilling and evaluation should increase sequentially in the low-to-mid single digits in the second quarter, with a slight decline in margins driven by seasonal weakness in software sales. Completion and production revenue also is expected to grow in the low-to-mid single digits sequentially, alongside between 25 basis points and 75 basis points of margin expansion. A basis point equals 0.01%. Capital return initiatives Halliburton bought back $100 million worth of stock in the first quarter, which follows $250 million worth of share repurchases in the final three months of 2022. As a reminder, in January, Halliburton announced a new framework to return at least 50% of annual free cash flow via dividends and buybacks going forward. Halliburton now pays a dividend of 16 cents per share , up 33% from where it stood at the end of last year. Miller stressed Tuesday that Halliburton has the flexibility to increase its buyback spending as the year progresses. Halliburton’s first-quarter sales were better than expected in all four of its geographic segments. Its North American and Latin American operations saw the biggest year-over-year growth, rising 43.6% to $2.77 billion and 40.1% to $915 million, respectively. The only geographic segment that saw declines on an annual basis was Europe/Africa/CIS, which fell 2%. Management noted on the call that those results were impacted by the sale of its Russia operations. Halliburton’s free cash flow came in at negative $105 million in three months ended March 31, compared with estimates of positive $134 million. It’s important to remember the weakness is largely due to normal seasonal trends, a dynamic also impacting Halliburton rival SLB, which last week reported negative first-quarter free cash flow, too. (Jim Cramer’s Charitable Trust is long HAL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
A Halliburton worker walks through a hydraulic fracturing site north of Dacono, Colorado.
Jamie Schwaberow | Bloomberg | Getty Images
Club holding Halliburton (HAL) reported stronger-than-expected first-quarter results before the bell Tuesday, validating our investment in the oilfield services company as it capitalizes on years of underinvestment in drilling capacity.
Total revenue rose 33% year over year to $5.68 billion, topping analyst expectations of $5.5 billion, according to Refinitiv.
Earnings per share(EPS) more than doubled on an annual basis, to 72 cents, exceeding the Refinitiv estimate of 68 cents.
On today’s energized episode of Quick Charge, a Tesla executive leaks news of a new Model S and X as protests at retail locations escalate and key staff continue their exodus from the troubled brand. Plus: 0% financing deals on EVs and PHEVs and Volvo brings off-grid power to bauma.
We’ve also got a look at the crowded EV sedan market the updated Tesla Model S (if it happens) will enter, talk about the Chinese answer to Rolls-Royce and Bentley from Huawei, and the latest off-grid BESS substation concept from Volvo Penta. Enjoy!
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Zevtron, ParkMobile, and Athena Partners Strategy Group are together supporting charging site owners and EV drivers affected by Shell Recharge’s shutdown of its EV charger software.
Shell Recharge is discontinuing its Shell Sky software in third-party commercial EV chargers in the US and Canada. It will service third-party commercial fleet EV chargers until April 30; after that, it’s lights out, leaving hundreds of EV charging stations across the US inoperable.
Zevtron, ParkMobile, and Athena Partners Strategy Group is deploying Zevtron’s white-label EV charging software across the former Shell Recharge network to restore full operational capacity to these chargers.
“Shell’s exit has left hundreds of chargers effectively stranded,” said Chris Mckenty, SVP of sales & marketing at Zevtron. “Our goal is to rapidly restore these stations to full functionality while enhancing their capabilities with flexible branding, seamless payment options, and improved management tools.”
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ParkMobile will extend its capabilities to process EV charging sessions so users can both park and charge. “Integrating EV charging parking sessions into ParkMobile simplifies access for millions of drivers who already rely on our platform,” said Andy Harman, vice president of sales at ParkMobile.
Athena Partners Strategy Group will work closely with cities, businesses, and property owners to deploy the new solution efficiently. “We see this as a major opportunity to not only restore EV charging infrastructure but also improve it for the long term,” said Nick Stanton, managing partner of Athena Partners Strategy Group.
The partnership says it’s a “turnkey solution to ensure uninterrupted service, enhanced user experience, and improved revenue potential.”
For more information on transitioning Shell Recharge EV chargers to the Zevtron-powered network, contact Chris Mckenty at cmckenty@zevtron.com
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The Volkswagen ID.4 was the third best-selling EV in the US last month, trailing only the Tesla Model Y and Model 3. Volkswagen’s electric SUV made a comeback after sales surged over 650% in January.
Volkswagen ID.4 was the third best-selling EV in January
Although ID.4 sales fell by 55% last year after Volkswagen halted production and deliveries in September due to a recall over faulty door handles, the EV made a triumphant return in 2025.
Volkswagen sold 4,979 ID.4’s in the US last month, up 653% from January 2024. To put it in perspective, VW only sold 646 ID.4 models in the fourth quarter and just over 17,000 in 2024. At this rate, ID.4 sales are on pace to reach nearly 60,000 by the end of 2025.
According to Cox Automotive’s latest EV Market Monitor report, the ID.4 was the third best-selling EV in the US last month, behind the Tesla Model Y and Model 3.
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The Honda Prologue and Tesla Cybertruck rounded out the top five. Combined, the top five selling EV models accounted for 54% of total sales in the US last month.
Rank
Model
1.
Tesla Model Y
2.
Tesla Model 3
3.
Volkswagen ID.4
4.
Tesla Cybertruck
5.
Honda Prologue
Top-selling EVs in the US in January 2025 (Cox Automotive)
Over 102,200 electric vehicles were sold in the US in January, up nearly 30% from January 2024. Although sales were down from the record 132,392 sold in December 2024, a drop was expected over typical seasonal trends.
Tesla doesn’t provide a breakdown of US sales, so we will not know exact sales numbers until registration data is released.
2024 Honda Prologue Elite (Source: Honda)
Honda’s electric SUV continues to take the market by storm, with 3,744 Prologues sold in January. After delivering the first models last March, the Honda Prologue became the seventh best-selling EV in the US last year, with over 33,000 models sold.
Volkswagen announced the ID.4 was back on sale last month, with the “aim of re-instating the ID.4 to its prior position as one of the best-selling electric vehicles in the US and Canada.” It looks like it’s happening quicker than expected.
Volkswagen ID.4 (Source: Volkswagen)
The new entry-level 2025 Volkswagen ID.4 RWD Pro model starts at $45,095, while the AWD Pro costs $48,995. Both are powered by an 82 kWh battery. Volkswagen said the 62 kWh battery will be available later this year. The larger battery provides an EPA-estimated range of up to 291 miles.
VW’s base models feature a gloss black grille, black roof rails, and a 12.9″ infotainment system with Android Auto and Apple CarPlay support. The AWD version has 20″ wheels, a heated windshield, and a tow hitch.
Volkswagen ID.4 interior (Source: Volkswagen)
The ID.4 Pro S RWD starts at $50,195, and the AWD model has a sticker price of $54,095. It gets an added illuminated VW logo at the front and rear, premium LED projector headlights, a panoramic fixed glass roof, power tailgate, and more.
Volkswagen’s range-topping 2025 ID.4 Pro S Plus is only available in AWD and starts at $57,295. The Plus trim features 21-inch wheels, added exterior design elements, heated rear seats, a premium Harman Kardon audio system, and an Area View (an overhead view camera).
Both electric SUVs feature some of the biggest discounts on the market right now. To make room for 2025 models, VW is offering close-out prices on the 2024 ID.4, with leases starting as low as $189 per month. However, the Honda Prologue is hard to pass up, starting at just $209 per month. Ready to check them out for yourself? You can use our links below to find deals on the Volkswagen ID.4 and Honda Prologue in your area today.
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