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Halliburton Reports $35 Million Expenses from August Cyberattack

/ 1 min read

Halliburton incurs $35 million in expenses from August cyberattack. The company reported that a cyberattack in August, attributed to the RansomHub threat group, led to significant operational disruptions, including delayed billing and collections, impacting its free cash flow. Despite these challenges, Halliburton’s CEO Jeff Miller stated that the financial impact is not considered material, with adjusted net income of $641 million reported for the third quarter. The company plans to work closely with customers to recover from the incident and expects no significant new expenses related to the attack in the fourth quarter.