HAL · Halliburton Company

Halliburton's first quarter 2026 results show a significant improvement in profitability despite flat revenue, with net income more than doubling year-over-year to $461 million ($0.55 per diluted share) from $204 million ($0.24 per diluted share). The company achieved operating income of $679 million, a substantial increase from $431 million in the prior year quarter, driven by improved operational performance. Revenue remained essentially unchanged at $5.4 billion, masking divergent regional trends: North America revenue declined 4% to $2.1 billion due to lower stimulation and artificial lift activity in US Land, while international revenue grew 3% to $3.3 billion. Segment performance was mixed, with Completion and Production revenue decreasing 3% to $3.0 billion and operating income down 17% to $439 million, while Drilling and Evaluation revenue increased 4% to $2.4 billion with operating income flat at $351 million. Geographically, Latin America showed strong growth with revenue up 22% to $1.1 billion, and Europe/Africa increased 11% to $858 million, while Middle East/Asia declined 13% to $1.3 billion due to geopolitical disruptions. Management commentary from CEO Jeff Miller highlighted early signs of recovery in North America and resilience in international markets despite Middle East conflict impacts. The company maintained capital discipline with $273 million in operating cash flow, $123 million in free cash flow, and returned capital to shareholders through $100 million in share repurchases and $0.17 per share dividends.