01—Abstract
Summary
Summary of the 8-K filed April 21, 2026. Cited figures are marked; the original filing is the authoritative source.
Halliburton Company (NYSE: HAL) reported first-quarter 2026 net income attributable to the Company of $461 milliona, or $0.55 per diluted share, compared with $204 million, or $0.24 per diluted share, in the first quarter of 2025.
Total revenue was $5.4 billionb, flat compared with the first quarter of 2025. Operating income was $679 million, compared with $431 million in the prior-year quarter, which included $356 million of impairments and other charges. No impairments and other charges were recorded in the first quarter of 2026.
Cash flow from operations was $273 millionc and free cash flow was $123 million, and the company repurchased approximately $100 million of common stock and paid dividends of $0.17 per share. By segment, Completion and Production revenue was $3.0 billion, down $104 million, or 3%, with operating income of $439 million, down $92 million, or 17%, driven mainly by lower North American stimulation activity and lower Middle East completion tool sales and pressure pumping. Drilling and Evaluation revenue was $2.4 billion, up $89 million, or 4%, with operating income flat at $351 million.
By region, North America revenue fell 4% to $2.1 billiond, International revenue rose 3% to $3.3 billion, with Latin America up 22%, Europe/Africa up 11%, and Middle East/Asia down 13%. Management said the Middle East conflict affected both divisions by approximately 2 to 3 cents of net income per diluted share.
The filing furnishes the earnings press release under Items 2.02 and 7.01 and includes non-GAAP reconciliations for adjusted operating income, adjusted net income, and free cash flow. Management's CEO said North America shows clear signs of an early recovery.
02—Key points
Key Highlights
- Net income attributable to the Company was $461 million, or $0.55 per diluted share, versus $204 million, or $0.24 per diluted share, in Q1 2025.
- Total revenue was $5.4 billion, flat year over year, with operating margin of 13% as stated in the release.
- Operating income rose to $679 million from $431 million, reflecting no impairments and other charges in Q1 2026 versus $356 million in Q1 2025.
- Completion and Production operating income fell $92 million, or 17%, to $439 million, while Drilling and Evaluation operating income was flat at $351 million.
- Cash flow from operations was $273 million and free cash flow was $123 million, compared with $377 million and $124 million in Q1 2025.
- Halliburton repurchased approximately $100 million of common stock and paid dividends of $0.17 per share during the quarter.
- Middle East conflict reduced net income by approximately 2 to 3 cents per diluted share across both divisions, and a $32 million tax benefit from a valuation allowance release supported the quarter.
03—Questions
Frequently Asked Questions
How did Halliburton's first-quarter 2026 earnings compare with the prior year?
Net income attributable to the Company was $461 million, or $0.55 per diluted share, compared with $204 million, or $0.24 per diluted share, in Q1 2025. The prior-year figure included $356 million of pre-tax impairments and other charges, and adjusted net income for Q1 2025 was $517 million, or $0.60 per diluted share.
What drove the change in segment performance?
Completion and Production revenue decreased $104 million, or 3%, to $3.0 billion, mainly due to lower stimulation activity in North America and lower completion tool sales and pressure pumping in the Middle East. Drilling and Evaluation revenue increased $89 million, or 4%, to $2.4 billion, driven by higher project management activity in Latin America and increased drilling-related services in Europe and the Western Hemisphere.
How did the company's regions perform?
North America revenue was $2.1 billion, down 4%, due to lower stimulation and artificial lift activity in US Land and lower stimulation and fluid services in the Gulf of America. International revenue rose 3% to $3.3 billion, with Latin America up 22%, Europe/Africa up 11%, and Middle East/Asia down 13%.
How did Halliburton return cash to shareholders and what was its cash flow?
During the quarter, Halliburton repurchased approximately $100 million of common stock and paid dividends of $0.17 per share, totaling $142 million in dividends to shareholders. Cash flow from operations was $273 million and free cash flow was $123 million, and cash and equivalents ended the quarter at $2.0 billion.
What did management say about the outlook?
CEO Jeff Miller said that in North America there are clear signs the company is in the early innings of a recovery, and that international performance outpaced disruptions from the Middle East conflict. He said the company's focus on returns and capital discipline should drive long-term success.
04—Continue