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Halliburton Company (NYSE: HAL) reported first-quarter 2026 net income of $461 million, or $0.55 per diluted share. In the first quarter of 2025, net income was $204 million, or $0.24 per diluted share. Adjusted net income in the first quarter of 2025 was $517 million, or $0.60 per diluted share, excluding impairments and other charges.
Total revenue for the first quarter of 2026 was $5.4 billion, flat compared with the first quarter of 2025. Operating income was $679 million, compared with $431 million in the first quarter of 2025. Adjusted operating income in the first quarter of 2025 was $787 million, excluding impairments and other charges.
“I am pleased with Halliburton’s performance this quarter,” said Jeff Miller, Chairman, President and CEO. He said North America shows “clear signs” of recovery, while international performance “outpaced disruptions” from the Middle East conflict, adding that capital discipline and a focus on returns are expected to drive long-term success.
Completion and Production revenue in the first quarter of 2026 was $3.0 billion, down $104 million (3%) versus the first quarter of 2025. Operating income was $439 million, down $92 million (17%) versus the first quarter of 2025.
The company said 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. These declines were partially offset by higher completion tool sales in the Western Hemisphere and improved pressure pumping services in Africa.
Drilling and Evaluation revenue in the first quarter of 2026 was $2.4 billion, up $89 million (4%) versus the first quarter of 2025. Operating income was $351 million, flat versus the first quarter of 2025.
Halliburton attributed the increase primarily to higher project management activity in Latin America and increased drilling-related services in Europe and the Western Hemisphere. These gains were partially offset by 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.
Halliburton also said the geopolitical conflict in the Middle East affected both divisions in the first quarter of 2026, with an impact of approximately 2 to 3 cents of net income per diluted share.
North America revenue in the first quarter of 2026 was $2.1 billion, down 4% versus the first quarter of 2025. The 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.
These decreases were partially offset by increased drilling-related services in US Land and higher completion tool sales in the region.
International revenue in the first quarter of 2026 was $3.3 billion, up 3% versus the first quarter of 2025.
During the first quarter of 2026, Halliburton:
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