Halliburton (HAL) reported mixed second-quarter results before the bell Wednesday as weaker-than-expected results in its completion and drilling segment were a drag. Total revenue rose 14% year over year to $5.8 billion, however, came up a bit short versus analyst expectations of $5.86 billion, according to Refinitiv. Earnings per share (EPS) of 77 cents (excluding a non-operating loss on transactions in Argentina), exceeded the adjusted Refinitiv estimate of 75 cents. Bottom line Revenue at the oilfield services giant missed the mark, but strong execution in both operating divisions allowed profit margins and earnings to exceed expectations. Cash flow performance — which was well above expectations in the quarter — is arguably the most important watch item for those investing in the energy complex, given the industry’s pivot to focus on shareholder returns over production growth at all costs. On the call, management reiterated that growing free cash flow is a top priority, and they expect over 50% of it to be “returned to shareholders this year.” That’s consistent with the new framework outlined back in January. The more cash Halliburton can generate, the more we as investors stand to get back in the form of buybacks and dividends, which is why were are much more pleased with the free cash flow result than we are disappointed with the revenue performance. Speaking of cash returns, the company repurchased $248 million worth of shares during the quarter while returning another $144 million to shareholders via dividends. Looking ahead, management did shave its customer spending growth outlook in North America, but they said they continue to see a strong appetite for oil, citing “demand growth of 2 million barrels per day in the first half of the year compared to the same period last year.” The team also guided for full-year free cash flow generation to be above what analysts were looking for — a material positive for the stock in the back half of the year. This, in our view, outweighs the more conservative North American spending guidance. However, Halliburton shares dropped 3% on Wednesday after a strong run over the past month that we trimmed into on Friday for a small gain. HAL YTD mountain Halliburton YTD performance Management expects exploration and production spending to grow this year and into the future, noting discussions with customers that have plans that extend “into the next decade.” While maintaining our 2 rating , we’re nudging up our price target to $42 per share from $40), reflecting about 18 times 2024 free cash flow per share estimates or about 11.5 times 2024 earnings estimates. Both multiples are about in line with what we have seen over the past three years out of HAL and, in our view, are justified by the resiliency in energy commodity prices and the need for additional production to meet global demand behind multiyear upcycle management is forecasting. Guidance Management maintains a positive outlook on the global market, but they did slightly reduce their outlook for customer spending growth in North America to “around 10%” from their prior expectation for growth in the teens on a percentage basis. The expectation incorporates a view that the second half will be weaker than the first but profit margins are expected to “remain strong for the balance of the year.” Internationally, the team expects customer spending to grow in the high teens with “quality services and equipment to remain tight and pricing to continue to improve.” They added, “Halliburton’s strategy is to deliver profitable international growth.” From an operating segment perspective, the team said they’re “looking through any quarterly fluctuations and seasonality,” and fully expect drilling and evaluation margins to “continue to expand over time” Haliburton expects full-year cash flow growth of 30% to 40% over last year’s level. With 2022 free cash flow coming in at $1.43 million, this forecast amounts to about $1.93 million at the midpoint, above Wall Street’s $1.84 million expectation. On a segment-by-segment basis, management expects completion and production revenue to be flat sequentially, in line with expectations, and for drilling and evaluation revenue to increase “low single digits” sequentially, also about in line with expectations. Companywide Q2 results Here are a few highlights: Second quarter operating margin of 17.44% came in above estimates and 329 basis points above year-ago numbers. Management attributed the strong operating margin performance (a subset of the overall margin line-item) primarily to “strong international activity across both divisions, along with improved pricing” In completion and production, Q2 sales rose more than 19% year-over-year to $3.48 billion. Though, that was below estimates (as seen in the product segment column of the earnings table). Management attributed strong operating margin performance in the segment (which allowed operating income for the segment to exceed expectations despite the sales miss) “to increased activity from multiple product lines in international markets and higher artificial lift activity in North America.” In drilling and evaluation, quarterly sales rose more than 7% to $2.32 billion and beat estimates. The team called out “higher drilling activity and increased fluid services in key regions, including the Middle East and Latin America, partially offset by seasonal roll off of software sales across multiple regions.” Our other two energy stocks, Coterra Energy (CTRA) and Pioneer Natural Resources (PXD), report their quarterly results next month. (Jim Cramer’s Charitable Trust is long HAL, CTRA, PXD. 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. 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Signage is displayed outside a Halliburton Co. location in Port Fourchon, Louisiana, U.S.
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Halliburton (HAL) reported mixed second-quarter results before the bell Wednesday as weaker-than-expected results in its completion and drilling segment were a drag.
We’re kicking off this week’s Green Deals with a bunch of savings that will only last through the rest of the day, starting with the final hours of Lectric’s April Showers Sale with up to $654 in e-bike bundle savings, like on the XP Trike for $1,499 that comes with one of the largest bundles we’ve seen at $420 in free gear. In the same vein, it’s the final day of EcoFlow’s Easter Sale and Mega Sale, with shared flash offers at up to 60% off on three different units, including a DELTA Max 2000 Portable Power Station, a DELTA Pro bundle, and a pair of expansion batteries – with everything starting from $849. Lastly, we have a one-day-only sale from Best Buy on the Worx 40V 17-inch Cordless Intellicut Lawn Mower at $266, as well as an additional 4.0Ah battery discount too. Plus, all the other hangover Green Deals from last week are in the links at the bottom of the page, rounded together within our Electrified Weekly coverage.
Leisurely enjoy errands and joyrides on Lectric’s XP Trike with $420 bundle at $1,499 ($1,919 value)
It’s the final day of Lectric’s April Showers Sale with up to $654 being taken off e-bike bundles, which the brand has provided a countdown clock for through the rest of the day. We wanted to shine a spotlight on the bundle for the Lectric’s XP Trike that is coming with $420 in free gear at $1,499 shipped. You’d normally have to shell out $1,919 to get this package at full price, which sits among some of the largest bundles we have been seeing over the last year. With the additional gear, you’ll be upgrading your riding experience with steel-encased front and rear cargo baskets, a wide saddle with a backrest, a suspension seat post, an Elite 850 lux headlight, and a bell.
Lectric’s XP Trike is an ideal model for folks who enjoy taking leisurely rides around town, especially older riders – plus, with the bonus add-on gear you’ll get more versatility for cargo-hauling needs. The folding frame houses a 500W planetary geared brushless motor that peaks upwards to 1,092Wh alongside a removable 48V 13Ah battery, providing you with 14 MPH top speeds for up to 50 miles when its five pedal assistance levels are activated. Inexperienced riders will also get some added support in its default mode, which limits the acceleration and speed until you get more comfortable with its system.
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And for the price, Lectric’s XP Trike comes with a solid array of stock features too, like the hydraulic brakes and additional parking brake for guaranteed stopping power, as well as others including integrated rear lights (with brake lighting), slimmer tires for easier turning, an ergonomic twist throttle for electric cruising (which will shorten its mileage), and a backlit LCD display. On top of everything, the build comes with an IP65 water-and-dust-resistant protection rating.
Be sure to check out the full lineup of Lectric’s April Showers Sale offers, which are seeing up to $654 taken off the other e-bike bundles through the rest of the day.
You can save up to 60% on EcoFlow’s DELTA Max or DELTA Pro power station setups for today only starting from $849
As part of its soon-to-end Easter Sale and alternate Mega Sale, EcoFlow is closing out these sales tonight with its final flash offers on three different backup power deals, starting with the DELTA Max 2000 Portable Power Station for $849 shipped. We usually see discounts hitting this model’s bundles over the standalone unit, which is being brought down from its $2,099 price tag here for the rest of the day (and sale). We saw it fall lower back during Black Friday sales to $799 and then $759 during Cyber Monday, with today’s deal still coming in as a significant $1,250 in savings, beating out our previous mention during the brand’s Spring Sale by $50 to land down at the third-lowest price we have tracked. You won’t currently find it available at Amazon, with this being the best price we can find right now.
While it may not be the newer second-generation model with shorter charge times and LiFePO4 cells, you’ll still be getting a reliable backup power solution in EcoFlow’s DELTA Max 2000, which offers an equally expandable 2,016Wh to 6,048Wh capacity when you add on expansion batteries. Through its 15 port options it dishes out up to 2,400W of power that can surge up to 3,400W for larger appliance needs too. The battery can be recharged to 80% in just 65 minutes through a standard wall outlet, with alternate options for combination fast-charging, including AC and solar, AC and a generator, or solar and a generator. Of course, you can also solely connect up to its maximum 800W solar input that can refill the battery in 2.5 hours, as well as be used for the previously mentioned combo charging.
The second of these offers bundles the DELTA Pro Portable Power Station with a free protective bag at $1,899 shipped, down from $3,699. While you can find it matching in price at Amazon, you won’t be getting the additional bag there. This is a larger model offering a more expansive setup, this unit comes with a 3,600Wh LiFePO4 capacity that you can invest in further to raise as high as 25kWh. It sports 14 output ports but provides power at up to 3,600W normally while able to surge to 7,200W when needed. Plugging it into a wall outlet gives you back a full battery in 1.8 hours, with its max 1,600W solar input taking a little longer at 2.8 hours.
The final of these offers provides you with two DELTA Pro Smart Extra Batteries for $2,899 shipped over the usual $5,598 rate you’d pay at full price. By adding these to a DELTA Pro power station, you’ll increase its capacity by an additional 7,200Wh, so grabbing them with the above discount would score you a 10,800Wh setup for trips, parties, emergencies, and more.
It’s the final day of EcoFlow’s sales, so be sure to browse through both its Easter Sale and Mega Sale offers while they’re still around and at up to 65% off – plus, the bonus savings, free gear, and rewards.
Affordably cover lawn duties with this Worx 40V 17-inch cordless mower that adapts to grass at $266 (Today only)
As part of its Deals of the Day, Best Buy has two Worx discounts that will affordably get you geared up for spring mowing duties, led by the brand’s 40V 17-inch Cordless Electric Lawn Mower that comes with two 4.0Ah batteries for $265.99 shipped, and matches in price over at Amazon too. Coming down off its $330 perch, most of the recent discounts we’ve seen on this older model have been taking things down to $280, with some falls as low as $247 in the last year. You’re looking at $64 off the going rate here today though, which provides you with a tried-and-true means to handle mowing jobs around your home. Head below to learn more about it and the additional one-day-only offer.
New-time homeowners will find a budget-friendly solution to their mowing needs with this 40V Worx mower that comes powered by the two included 20V 4.0Ah batteries to tackle up to 1/8 acres of land on a single charge. It weighs in at only 35 pounds, making it easy to manage and sports the brand’s Intellicut tech that can either ramp up or dial back the motor’s power depending on the thickness of grass that it moves through. It offers six cutting height levels to choose from, ranging from 1.5 inches to 4 inches while also providing 2-in-1 functionality for either rear bagging (complete with an indicator for a full bag) or mulching. You also won’t have to wrestle with any pull strings thanks to the push-button start nor the fumes or noise you’d get from gas-guzzling models.
Now, with the above bundle, the two batteries will take two hours to charge at the same time with the included dual-port charger, or just 1 hour apiece. Of course, with these all being within Worx’s PowerShare family, batteries can be interchanged, which makes Best Buy’s additional deal for a 20V 4.0Ah battery at $74.99 shipped, quite a solid means to extend the mower’s runtime with more batteries that you can keep switching in and out with one another.
Segway Ninebot F3 eKickScooter (preorder through April 14): $600 (Reg. $850)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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Tesla insurance premiums are increasing at more than twice the rate of the rest of the US auto market due to higher repair costs and amid increased instances of vandalism on Tesla vehicles.
Insurance on Tesla vehicles has always been fairly high, so much so that it encouraged Tesla to launch its own insurance product to try to mitigate the issue.
However, most Tesla owners still use insurance from other providers.
Insurance premiums in the US have been increasing across the board over the last year, and especially over the last few months, as the market fears the tariffs will increase auto industry repair costs.
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A new study from Insurify shows that the average cost of full coverage has increased by 10% year over year, from $2,102 to $2,302.
The study also points to insurance premiums on Tesla vehicles increasing at about twice the rate of the rest of the market, and the Model Y premiums increased by almost 3 times the rest of the market increase:
Three Tesla models saw the sharpest increase in full-coverage insurance costs between 2024 and 2025, with the rates for the Tesla Model Y rising 2.9 times faster than the national average.
In fact, the study ranked the top 10 vehicles that saw the highest premium increases in the US:
Tesla Model Y
Percentage increase in the cost of full coverage (2024–2025): 29%
Average annual cost of full coverage (2025): $3,996
Tesla Model 3
Percentage increase in the cost of full coverage (2024–2025): 24%
Average annual cost of full coverage (2025): $4,364
Tesla Model X
Percentage increase in the cost of full coverage (2024–2025): 22%
Average annual cost of full coverage (2025): $4,046
BMW 5 Series
Percentage increase in the cost of full coverage (2024–2025): 19%
Average annual cost of full coverage (2025): $3,229
Toyota Prius
Percentage increase in the cost of full coverage (2024–2025): 18%
Average annual cost of full coverage (2025): $2,151
Hyundai Santa Fe
Percentage increase in the cost of full coverage (2024–2025): 15%
Average annual cost of full coverage (2025): $2,241
Honda Accord
Percentage increase in the cost of full coverage (2024–2025): 14%
Average annual cost of full coverage (2025): $2,623
Hyundai Elantra
Percentage increase in the cost of full coverage (2024–2025): 14%
Average annual cost of full coverage (2025): $2,851
Honda Civic
Percentage increase in the cost of full coverage (2024–2025): 13%
Average annual cost of full coverage (2025): $2,600
Hyundai Sonata
Percentage increase in the cost of full coverage (2024–2025): 12%
Average annual cost of full coverage (2025): $2,735
The study used 97 million quotes between February 2024 and February 2025 to arrive at these results.
Therefore, it’s likely that the increased instances of vandalism against Tesla vehicles had an impact on these results, but it’s likely that higher repair costs are having a bigger impact.
Teslas are notoriously expensive to repair after a collision, and insurance companies often salvage them because of this.
The automaker is trying to address the issue by opening its own body shops to try to get the repair costs under control. It seemingly has yet to have a positive impact on insurance premiums.
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California is set to shake up how out-of-class electric two-wheelers are regulated, as a newly proposed bill, SB 586, aims to clarify the status of electric bikes without pedals, officially dubbing them “eMotos” and classifying them as off-highway vehicles.
The new bill, introduced by Senator Brian Jones, tackles the confusing gray area surrounding pedal-less electric bicycles, which currently skate between classifications of bicycles, scooters, and motorcycles.
These types of electric two-wheelers are often referred to as Sur Ron-style bikes due to the popularity of Sur Ron motorbikes that launched the infamous format. In addition to Sur Ron, similar models can be found from manufacturers such as Talaria, E Ride Pro, Segway, and others. They are generally smaller than typical motorcycles or dirt bikes, often weighing around 100 to 140 lb (45-65 kg) and usually reaching top speeds of between 40-55 mph (65-80 km/h). Despite looking somewhat similar to conventional electric bicycles due to the use of like-sized frames, they lack pedals and function more like light dirt bikes.
Other than the catch-all term “Sur Ron-style” bikes, there hasn’t been a good name for this rapidly growing unofficial class of two-wheeler, at least not until now. Under SB 586, a new class of “eMotos” is explicitly defined as including electric two-wheeled vehicles built on “bicycle frames” but lacking pedals and traditional engine identification numbers, and not requiring traditional vehicle registration.
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Instead, the new bill would have these “eMotos” regulated like other off-road vehicles, such as dirt bikes and ATVs, requiring them to have an official identification plate issued by California’s DMV.
If the bill passes, riders would need to follow established off-highway vehicle regulations, which include mandatory helmet use and restrictions on where these vehicles can be operated. The legislation also mandates the California Highway Patrol (CHP) and local law enforcement to create educational programs to promote the safe and compliant use of these vehicles in off-road areas.
California’s Division of Off-Highway Motor Vehicle Recreation would collaborate with the CHP to develop comprehensive guidelines for using eMotos in designated state recreation zones, ensuring users understand their responsibilities and legal boundaries.
This would bring these Sur Ron-style e-bikes into the fold with a new legal classification, however they would still not be permitted on public roadways. Instead, their Off-Highway Vehicle classification would allow them to be legally used on public off-road trails, which is one of the main applications they were originally designed for – at least until they fell into favor with you riders who now use them largely for illegal street riding.
This legislative move addresses growing concerns around safety and enforcement difficulties caused by the current ambiguous classification of pedal-less electric two-wheelers like these, which aren’t designed to operate as street-legal electric motorcycles despite exceeding electric bicycle regulatory limits.
By explicitly categorizing eMotos as off-highway vehicles, California aims to eliminate confusion, enhance rider safety, and streamline law enforcement efforts in managing the booming popularity of electric mobility solutions.
Electrek’s Take
I largely agree with this move to create a legal classification for these bikes, even if the term “eMotos” isn’t a great choice. These pedal-less electric motorbikes were never designed with urban streets in mind. Most were built for fire roads, dirt paths, and off-road exploration – places where speed, power, and the lack of pedals make more sense and pose fewer safety concerns. By classifying them as off-highway vehicles, California is making it clear how and where these machines should be ridden, and that clarity is long overdue. This could also help prevent misuse on public streets and sidewalks, which has become a growing concern in many cities.
For folks who really want to ride these types of vehicles on the streets and treat them like mini-motorcycles, there are already street-legal versions like the NIU XQi3 that have jumped through all the regulatory hoops to design them for street-legal riding in North America. But for almost all the other ones out there, they just aren’t designed for road use and so that’s not where they should be.
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