- \n
- \nNet income of $0.55 per diluted share.<\/p>\n<\/li>\n
- \nRevenue of $5.4 billion and operating margin of 13%.<\/p>\n<\/li>\n
- \nCash flow from operations of $273 million and free cash flow1<\/sup> of $123 million.<\/p>\n<\/li>\n
- \nApproximately $100 million of share repurchases.<\/p>\n<\/li>\n<\/ul>\n
HOUSTON–(BUSINESS WIRE<\/a>)–
\nHalliburton Company (NYSE: HAL) announced today net income of $461 million, or $0.55 per diluted share, for the first quarter of 2026. This compares to net income for the first quarter of 2025 of $204 million, or $0.24 per diluted share, and adjusted net income2<\/sup>,excluding impairments and other charges, of $517 million, or $0.60 per diluted share, in the first quarter of 2025. Halliburton\u2019s total revenue for the first quarter of 2026 was $5.4 billion, flat when compared to the first quarter of 2025. Operating income was $679 million in the first quarter of 2026, compared to operating income of $431 million in the first quarter of 2025, and adjusted operating income3<\/sup>,excluding impairments and other charges, of $787 million in the first quarter of 2025.<\/p>\n\n\u201cI am pleased with Halliburton\u2019s performance this quarter,\u201d commented Jeff Miller, Chairman, President and CEO.<\/p>\n
\n\u201cIn North America, I see clear signs that we are in the early innings of a recovery.<\/p>\n
\n\u201cIn international markets, our performance around the world outpaced disruptions from the Middle East conflict.<\/p>\n
\n\u201cI expect that our consistent focus on returns and capital discipline will drive long-term success for Halliburton and its shareholders,\u201d concluded Miller.<\/p>\n
Operating Segments<\/span><\/b><\/p>\n
Completion and Production<\/b><\/p>\n
\nCompletion and Production revenue in the first quarter of 2026 was $3.0 billion, a decrease of $104 million, or 3%, when compared to the first quarter of 2025, while operating income was $439 million, a decrease of $92 million, or 17%, when compared to first quarter of 2025. These results were primarily driven by lower stimulation activity in North America, and lower completion tool sales and decreased pressure pumping services in the Middle East. Partially offsetting these decreases were higher completion tool sales in the Western Hemisphere, and improved pressure pumping services in Africa.<\/p>\n
Drilling and Evaluation<\/b><\/p>\n
\nDrilling and Evaluation revenue in the first quarter of 2026 was $2.4 billion, an increase of $89 million, or 4%, when compared to the first quarter of 2025, while operating income was $351 million, flat when compared to the first quarter of 2025. These results were primarily driven by higher project management activity in Latin America and increased drilling-related services in Europe and the Western Hemisphere. Partially offsetting these increases were lower activity across multiple product service lines in the Middle East, lower wireline activity in the Eastern Hemisphere, and decreased fluid services in the Gulf of America.<\/p>\n
\nIn the first quarter of 2026, the geopolitical conflict in the Middle East affected both divisions, with an impact of approximately 2 to 3 cents of net income per diluted share.<\/p>\n
Geographic Regions<\/span><\/b><\/p>\n
North America<\/b><\/p>\n
\nNorth America revenue in the first quarter of 2026 was $2.1 billion, a 4% decrease when compared to the first quarter of 2025. This decline was primarily driven by lower stimulation activity and decreased artificial lift activity in US Land, and lower stimulation activity and decreased fluid services in the Gulf of America. Partially offsetting these decreases were increased drilling-related services in US Land and higher completion tool sales in the region.<\/p>\n
International<\/b><\/p>\n
\nInternational revenue in the first quarter of 2026 was $3.3 billion, an increase of 3% when compared to the first quarter of 2025.<\/p>\n
\nLatin America revenue in the first quarter of 2026 was $1.1 billion, an increase of 22% year over year. This increase was primarily driven by higher activity across multiple product service lines in Ecuador, the Caribbean, and Brazil, and improved stimulation activity in Mexico and Argentina. Partially offsetting these increases were lower project management activity and decreased drilling-related services in Mexico.<\/p>\n
\nEurope\/Africa revenue in the first quarter of 2026 was $858 million, an increase of 11% year over year. This increase was primarily driven by increased drilling-related services and higher completion tool sales in Norway, and improved pressure pumping services in Angola. Partially offsetting these increases were lower completion tool sales in the Caspian Area and decreased drilling-related services in Namibia.<\/p>\n
\nMiddle East\/Asia revenue in the first quarter of 2026 was $1.3 billion, a decrease of 13% year over year. This decrease was primarily driven by lower activity across multiple product service lines in Saudi Arabia and decreased drilling-related services in Qatar. Partially offsetting these decreases were higher completion tool sales and improved fluid services in Asia.<\/p>\n
Other Financial Items<\/span><\/b><\/p>\n
\nDuring the first quarter of 2026, Halliburton:<\/p>\n
- \n
- \nRepurchased approximately $100 million of its common stock.<\/p>\n<\/li>\n
- \nPaid dividends of $0.17 per share.<\/p>\n<\/li>\n
- \nSpent $42 million on SAP S4 migration.<\/p>\n<\/li>\n<\/ul>\n
Selective Technology & Highlights<\/span><\/b><\/p>\n
- \n
- \nHalliburton launched the HyperSteer\u2122<\/sup> MX directional drill bit, an industry-first shankless matrix-body bit that improves durability and maximizes directional control. The bit delivers longer runs and fewer trips, resists erosion and abrasion, and performs reliably in high-flow, abrasive environments. HyperSteer\u2122<\/sup> MX directional drill bits utilize advanced matrix materials to resist erosion and abrasion, extend bit life in abrasive, high-flow environments, and improve efficiency and reliability during operations.<\/p>\n<\/li>\n
- \nHalliburton and the Agency for Science, Technology and Research (A*STAR), Singapore’s lead public sector research and development agency, announced the launch of the Next-Generation Energy Xccelerator Joint Lab. This initiative aims to accelerate the development and commercialization of advanced well completion technologies for the energy industry. The project is also supported by the Singapore Economic Development Board.<\/p>\n<\/li>\n
- \nHalliburton launched the XTR\u2122<\/sup> CS injection system, a wireline-retrievable safety valve solution engineered for CO\u2082 injection in carbon capture, utilization, and storage wells. The system provides flexibility as a primary or contingency safety valve or as a deep-set reservoir fluid-flowback prevention device. Unlike traditional surface-controlled wireline valves, the XTR injection system\u2019s non-elastomeric design helps minimize leak paths and eliminate reliance on hydraulic operation systems. This system remains at steady performance at any setting depth, to simplify operations and inventory management.<\/p>\n<\/li>\n
- \nHalliburton launched the RangeStar\u2122 Geothermal Well Spacing and Intercept Service, a part of the family of RangeStar\u2122 magnetic ranging services, a next-generation solution that supports geothermal development through faster, more accurate, and fully integrated well placement. Designed for complex geothermal environments, the RangeStar Geothermal Well Spacing and Intercept Service delivers reliable performance that reduces uncertainty and simplifies operations. Rapid ranging determination reduces decision time from hours to minutes, supports detection distances up to 130 meters, and improves accuracy within formations and depths.<\/p>\n<\/li>\n
- \nHalliburton, in collaboration with ExxonMobil Guyana, Sekal, and Noble, delivered a groundbreaking step forward in digital well construction to achieve the deepwater industry\u2019s first fully automated geological well placement with complete rig automation in offshore Guyana. The project combined rig automation, automated subsurface interpretation and well placement, and real-time hydraulics to establish a new benchmark for well construction performance, reservoir contact, and execution efficiency.<\/p>\n<\/li>\n<\/ul>\n
- \nHalliburton launched the HyperSteer\u2122<\/sup> MX directional drill bit, an industry-first shankless matrix-body bit that improves durability and maximizes directional control. The bit delivers longer runs and fewer trips, resists erosion and abrasion, and performs reliably in high-flow, abrasive environments. HyperSteer\u2122<\/sup> MX directional drill bits utilize advanced matrix materials to resist erosion and abrasion, extend bit life in abrasive, high-flow environments, and improve efficiency and reliability during operations.<\/p>\n<\/li>\n
- \nApproximately $100 million of share repurchases.<\/p>\n<\/li>\n<\/ul>\n
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