NEWS

(Bloomberg) – Halliburton Co., the world’s largest provider of hydraulic fracturing services, fell sharply after warning investors that tariffs will impact a wide swath of the company’s business units.

The dominant North American oil field services provider told investors Tuesday on a conference call that tariffs will have an impact of 2 to 3 cents per share during the second quarter, with 60% of the hit affecting its completions-and-production unit, which houses the fracing business. The rest of the tariffs impact will be to its drilling and evaluation segment.

The shares, which have lost about quarter of their value this year, fell 5.8% at 11:54 a.m. in New York. While customers are still digesting the latest tariff news and evaluating their drilling plans, they’re better prepared to weather an industry downturn than they were in the past, Chief Executive Officer Jeff Miller said on the call.

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