Halliburton Company (HAL) Earnings
Halliburton Company is expected to report next earnings on July 28, 2026 (in NaN days), with a consensus EPS estimate of $0.54. HAL has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +12.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 21, 2026 | $0.50 | $0.55 | +10.3% | $5.4B | +1.8% |
| Jan 21, 2026 | $0.55 | $0.69 | +25.5% | $5.7B | +4.7% |
| Oct 21, 2025 | $0.50 | $0.58 | +16.3% | $5.6B | +3.9% |
| Jul 22, 2025 | $0.55 | $0.55 | -0.4% | $5.5B | +1.9% |
| Apr 22, 2025 | $0.60 | $0.60 | -0.3% | $5.4B | +2.7% |
| Jan 22, 2025 | $0.73 | $0.70 | -4.1% | $5.6B | -0.4% |
| Nov 7, 2024 | $0.75 | $0.73 | -2.7% | $5.7B | -2.2% |
| Jul 19, 2024 | $0.80 | $0.80 | +0.0% | $5.8B | -1.9% |
| Jan 23, 2024 | $0.80 | $0.86 | +7.5% | $5.7B | -0.7% |
| Jul 19, 2023 | $0.75 | $0.77 | +2.7% | $5.8B | -1.6% |
| Jan 24, 2023 | $0.67 | $0.72 | +7.5% | $5.6B | -0.0% |
| Oct 25, 2022 | $0.56 | $0.60 | +7.1% | $5.4B | +0.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 21, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Good day, welcome to the call. Jeff Miller discussed market outlook, Middle East implications, and Halliburton's position. Shannon Slocum talked about international business, including Middle East disruptions and other regions' growth. Eric Correa provided financial results details. Highlights include total revenue, operating margin, cash flow, and segment results.
Guidance
Q2 corporate expenses expected to increase ~$5 million. SAP expenses in Q2 expected ~$45 million. Net interest expense expected to increase ~$5 million in Q2. Other net expense expected ~$35 million in Q2. Q2 and full-year effective tax rate expected ~20%. Capital expenditures for 2026 expected ~$1.1 billion. Middle East impact in Q2 estimated ~$0.07 - $0.09 per share. Completion and production division anticipates sequential revenue increase 4%-6% and margins improve 50-100 basis points. Drilling and evaluation division expects sequential revenue flat to down 2% and margins decline 75-125 basis points.
Segment performance
Total company revenue was $5.4 billion. Completion and production division: Q1 revenue $3 billion, -3% YOY; operating income $439 million, -17% YOY; margin 15%. Drilling and evaluation division: Q1 revenue $2.4 billion, +4% YOY; operating income $351 million, flat YOY; margin 15%. International revenue +3% YOY. Europe-Africa +11% YOY. Middle East-Asia -13% YOY. Latin America +22% YOY. North America -4% YOY.
Risks & headwinds
The situation in the Middle East with disruptions in offshore and land markets, increased logistics costs, price increases in purchased materials and supplies related to the conflict. Uncertainty in the timing and path of recovery to pre-conflict activity levels in the Middle East, which could impact revenue and costs.
Analyst Q&A
Q: David Anderson asked about how the Iran conflict shapes views and North America activity.
A: Jeff Miller said supply overhang is gone, demand intact, energy security driving activity. Shannon Slocum said white space in Q2 is gone, seen inbounds and H2 firming up.
Q: Arun Jayaram asked about international and offshore markets.
A: Shannon Slocum talked about Latin America, Norway, West Africa, Asia-Pac, and collaborative model.
Q: Saurabh Pant asked about North America pricing power.
A: Shannon Slocum said seeing signposts, focusing on existing fleets' pricing, and early signs of equipment tightness.
Q: Steve Richardson asked about Middle East EPS impact and Argentina contract.
A: Eric Correa explained Q1 and Q2 impact assumptions. Jeff Miller talked about Argentina contract as a template.
Q: James West asked about customer urgency and exploration.
A: Shannon Slocum said constructive conversations, and more development than exploration.
Q: Neil Mehta asked about capital returns and VoltaGrid.
A: Jeff Miller said buyback to be higher in Q2 and H2. Jeff Miller talked about VoltaGrid's international pursuit.
Q: Sebastian Erskine asked about Venezuela and U.S. land margins.
A: Jeff Miller talked about progress in Venezuela. Shannon Slocum said U.S. land incremental margins solidly up.
Q: Scott Gruber asked about international shale equipment and YPF contract.
A: Jeff Miller said Zeus fleet deployment based on contract duration. Talked about YPF contract as a huge win.
Q: Stephen Gingaro asked about U.S. frack customers and E&P capital discipline.
A: Jeff Miller said customers looking for effective solutions, early movers are smaller operators causing tightness.
Q: Mark Bianchi asked about Middle East restart and CapEx.
A: Shannon Slocum said unclear restart timing, Halliburton ready. Eric Correa said CapEx target $1.1 billion, within 5%-6% of revenue range.
Q: Keith Mackey asked about offshore and Middle East restart.
A: Jeff Miller said offshore business strong with value proposition and technology. Jeff Miller said Middle East restart complex, longer shut-in makes wells more complex.