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Halliburton (NYSE: HAL) earns $534M on $5.7B Q2 2026 revenue

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Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Halliburton Company reported second-quarter 2026 revenue of $5.714 billion, up from $5.402 billion in the first quarter of 2026. Net income attributable to the company was $534 million, or $0.64 per diluted share, compared with $461 million, or $0.55, in the prior quarter. Adjusted net income excluding $95 million of impairments and other credits was $461 million, or $0.55 per diluted share. Reported operating margin was 14%, and adjusted operating margin was 12%.

Completion and Production revenue rose to $3.202 billion with operating income of $474 million, driven by higher stimulation activity in the Western Hemisphere, while Drilling and Evaluation revenue increased to $2.512 billion with operating income of $338 million, pressured by lower software sales. International revenue grew to $3.4 billion, including 19% sequential growth in Europe/Africa, while Middle East/Asia revenue declined 2% amid lower activity in parts of the Middle East.

Cash flow from operations was $824 million in the quarter and free cash flow was $668 million. The company repurchased approximately $200 million of common stock and paid a quarterly dividend of $0.17 per share. As of June 30, 2026, total assets were $25.828 billion and long-term debt was $7.071 billion. Management highlighted multiple new technology launches, the acquisition of InformatiQ AS, and multi-year integrated contracts, including awards with Aramco, TotalEnergies and Basra Oil Company.

Positive

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Negative

  • None.

Filing Explained

The July 21 Form 8-K furnishes Halliburton’s second-quarter results and press release, but states that the information is not filed for Exchange Act Section 18 purposes or incorporated into other filings unless specifically referenced.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue $ 5,714 million Three months ended June 30, 2026 total revenue
Q2 2026 Net Income attributable to company $ 534 million Three months ended June 30, 2026
Q2 2026 Diluted EPS $ 0.64 per share Basic and diluted net income per share for Q2 2026
Q2 2026 Adjusted Diluted EPS $ 0.55 per share Adjusted net income per diluted share excluding impairments and other credits
Q2 2026 Cash flows from operating activities $ 824 million Three months ended June 30, 2026
Q2 2026 Free cash flow $ 668 million Three months ended June 30, 2026, per Footnote Table 5
Q2 2026 Stock repurchases $ 208 million Three months ended June 30, 2026 stock repurchase program cash outflow
Long-term debt $ 7,071 million Long-term debt balance at June 30, 2026
non-GAAP financial measure financial
"contain certain non-GAAP financial measures (as defined under the Securities"
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
Impairments and other credits financial
"adjusted net income4, excluding “Impairments and other credits”, of $461 million"
free cash flow financial
"Cash flow from operations of $824 million and free cash flow3 of $668 million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
SAP S4 upgrade expense technical
"SAP S4 upgrade expense | (46) | (32) | (42)"
lump sum turnkey contracts financial
"Halliburton was awarded lump sum turnkey contracts by Aramco for multiple"
Integrated Field Management Services technical
"to provide Integrated Field Management Services and Engineering, Procurement,"
Integrated field management services are companies or teams that oversee and coordinate all on-site activities for physical assets—such as maintenance, repairs, monitoring, and regulatory compliance—so owners don’t manage each task separately. Think of it as a single caretaker or conductor who schedules workers, tracks performance, and fixes problems to keep equipment running smoothly. Investors care because bundling these services can lower costs, reduce downtime, improve predictable cash flow, and limit regulatory or operational risk.
Revenue $ 5,714 million up from $ 5,402 million in the first quarter of 2026
Net income attributable to company $ 534 million up from $ 461 million in the first quarter of 2026 and $ 472 million in Q2 2025
Diluted EPS $ 0.64 up from $ 0.55 in the first quarter of 2026
Adjusted net income attributable to company $ 461 million flat versus $ 461 million in the first quarter of 2026
Operating income $ 778 million up from $ 679 million in the first quarter of 2026
Free cash flow $ 668 million compared with $ 706 million in the three months ended June 30, 2025

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FAQ

What were Halliburton (HAL) Q2 2026 revenues and net income?
Halliburton reported Q2 2026 revenue of $5.714 billion and net income attributable to the company of $534 million. In the first quarter of 2026, revenue was $5.402 billion and net income was $461 million, indicating sequential growth in both measures.

What earnings per share did Halliburton (HAL) report for Q2 2026?
Halliburton reported $0.64 basic and diluted net income per share for Q2 2026. Adjusted net income per diluted share was $0.55, excluding $95 million of impairments and other credits, matching the $0.55 adjusted figure from Q1 2026 and Q2 2025.

How did Halliburton (HAL) perform by operating segment in Q2 2026?
In Q2 2026, Completion and Production generated $3.202 billion revenue and $474 million operating income. Drilling and Evaluation delivered $2.512 billion revenue and $338 million operating income, with performance affected by lower software sales despite higher drilling-related activity.

What was Halliburton’s (HAL) Q2 2026 cash flow and free cash flow?
Halliburton produced $824 million of cash flows from operating activities and $668 million of free cash flow in Q2 2026. For the first six months of 2026, operating cash flow totaled $1.097 billion and free cash flow was $791 million, after capital expenditures and asset sale proceeds.

How much capital did Halliburton (HAL) return to shareholders in Q2 2026?
During Q2 2026, Halliburton repurchased approximately $200 million of its common stock and paid dividends of $0.17 per share. For the first half of 2026, total stock repurchases were $308 million and dividends paid were $285 million, according to the cash flow statement.
0000045012falseCHX00000450122026-07-212026-07-210000045012exch:XNYS2026-07-212026-07-210000045012exch:XCHI2026-07-212026-07-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

HALLIBURTON COMPANY
(Exact name of registrant as specified in its charter)
Delaware
001-0349275-2677995
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
3000 North Sam Houston Parkway East,Houston,Texas77032
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (281) 871-2699
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $2.50 per shareHALNew York Stock Exchange
NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition

On July 21, 2026, Halliburton Company (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026 and providing access information for an investor conference call to discuss those results. The scheduled conference call was previously announced on June 10, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 2.02. The press release will be published on the Company’s website at www.halliburton.com.

The Company’s press release announcing its results for the quarter ended June 30, 2026 and information to be discussed on the conference call contain certain non-GAAP financial measures (as defined under the Securities and Exchange Commission’s Regulation G). Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles, or GAAP. The Company has provided reconciliations within the press release and in the Quarterly Results and Presentations section of our website of the non-GAAP measures to the most directly comparable GAAP financial measure.

In accordance with General Instruction B.2 of Form 8-K, the information included in this Current Report under Item 2.02 and in the press release as Exhibit 99.1 is deemed to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended (Securities Act), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01. Regulation FD Disclosure

On July 21, 2026, the Company issued a press release announcing its results for the quarter ended June 30, 2026. A copy of the press release is set forth in Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information included in this Current Report under Item 7.01 and in the press release as Exhibit 99.1 is deemed to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act.

(d)    Exhibits

99.1    Press Release of Halliburton Company, dated July 21, 2026.

104    Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




HALLIBURTON COMPANY
Date:July 21, 2026By:/s/ Stephanie S. Holzhauser
Stephanie S. Holzhauser
Senior Vice President and Chief
Accounting Officer










































Exhibit 99.1
halliburtona.jpg
HALLIBURTON ANNOUNCES SECOND QUARTER 2026 RESULTS
•Net income of $0.64 per diluted share.
•Adjusted net income per diluted share1 of $0.55.
•Revenue of $5.7 billion and operating margin of 14%.
•Adjusted operating margin2 of 12%.
•Cash flow from operations of $824 million and free cash flow3 of $668 million.
•Approximately $200 million of share repurchases.
HOUSTON – July 21, 2026 – Halliburton Company (NYSE: HAL) announced today net
income of $534 million, or $0.64 per diluted share, for the second quarter of 2026 and
adjusted net income4, excluding “Impairments and other credits”, of $461 million, or $0.55
per diluted share. This compares to net income for the first quarter of 2026 of $461 million,
or $0.55 per diluted share. Halliburton’s total revenue for the second quarter of 2026 was
$5.7 billion, compared to total revenue of $5.4 billion in the first quarter of 2026. Operating
income was $778 million in the second quarter of 2026, compared to operating income of
$679 million in the first quarter of 2026. Adjusted operating income5 in the second quarter of
2026, excluding “Impairments and other credits,” was $683 million.
“I am pleased with Halliburton’s performance this quarter, and believe the global outlook for
Halliburton is strong. I expect our differentiated technology and value proposition set the
stage for revenue growth and margin expansion.” commented Jeff Miller, Chairman,
President and CEO.
“In international markets, I am excited about Halliburton’s contract awards and pipeline of
future opportunities. I see demand growth for our services and technology in every region
we serve.
“In North America, I am encouraged by the recovery we saw this quarter and I  expect
incremental improvements through the year.
“I expect that our consistent focus on returns and capital discipline will drive long-term
success for Halliburton and its shareholders,” concluded Miller.
Operating Segments
Completion and Production
Completion and Production revenue in the second quarter of 2026 was $3.2 billion, an
increase of $186 million, or 6% sequentially, while operating income was $474 million, an
increase of $35 million, or 8% sequentially. These results were primarily driven by increased
stimulation activity in the Western Hemisphere and improved well intervention services in
Asia. Partially offsetting these increases were lower specialty chemicals activity in North
America resulting from the completed sale of a portion of our chemical business, decreased
cementing activity in Latin America, and lower activity across multiple product service lines
in the Middle East.
Drilling and Evaluation
Drilling and Evaluation revenue in the second quarter of 2026 was $2.5 billion, an increase
of $126 million, or 5% sequentially, while operating income was $338 million, a decrease of
$13 million, or 4% sequentially. Revenue improvements were primarily driven by increased
drilling-related services and higher wireline activity in North America and Europe/Africa, and
increased drilling-related services in Asia. Partially offsetting these increases were lower
software sales globally, decreased project management activity in Latin America and lower
wireline activity in the Middle East. Operating income decreased due to the seasonal roll off
of software sales.
Geographic Regions
North America
North America revenue in the second quarter of 2026 was $2.3 billion, an increase of 7%
sequentially. This increase was primarily driven by higher stimulation activity and increased
well construction activity in US Land, and higher fluids activity in the Gulf of America.
Partially offsetting these increases were lower specialty chemicals activity in US Land
following the sale of a portion of our chemical business and decreased drilling activity in the
Gulf of America.
International
International revenue in the second quarter of 2026 was $3.4 billion, an increase of 5%
when compared to the first quarter of 2026.
Latin America revenue in the second quarter of 2026 was $1.1 billion, an increase of 3%
sequentially. These results were primarily driven by increased stimulation activity in
Argentina and Mexico, and improved completion tool sales in Mexico. Partially offsetting
these increases were lower activity across multiple product service lines in the Caribbean,
decreased well construction activity in Mexico and Ecuador, and decreased completion tool
sales in Brazil.
Europe/Africa revenue in the second quarter of 2026 was $1.0 billion, an increase of 19%
sequentially. These results were primarily driven by improved activity across multiple product
service lines in the North Sea, increased well construction activity in Namibia and Egypt,
higher completion tool sales in the Mediterranean and Ivory Coast, and increased project
management activity in Angola. Partially offsetting these increases were decreased software
sales across the region and lower activity across multiple product service lines in Libya.
Middle East/Asia revenue in the second quarter of 2026 was $1.3 billion, a decrease of 2%
sequentially. These results were primarily driven by lower activity across multiple product
service lines in Kuwait, Iraq, and Qatar as a result of the ongoing geopolitical conflict in the
Middle East. Partially offsetting these decreases were higher well construction activity in
Saudi Arabia and the United Arab Emirates, and increased drilling-related services and
higher well intervention services in Asia.
Other Financial Items
During the second quarter of 2026, Halliburton:
•Repurchased approximately $200 million of its common stock.
•Paid dividends of $0.17 per share.
•Spent $46 million on SAP S4 migration.
•Recognized a pre-tax credit of $95 million, related to “Impairments and other credits.”
Selective Technology & Highlights
•Halliburton and Shape Digital entered a strategic collaboration to advance digital
asset performance management through a unified asset view that connects
subsurface and surface intelligence. The collaboration extends trusted data, domain
science, operational expertise, and applied AI to support predictive, asset-level
decision-making over the full production lifecycle.
•Halliburton successfully deployed its VersaFlex® expandable liner hanger system in
the bp-operated Azeri–Chirag–Gunashli project offshore Azerbaijan in the Caspian
Sea. The operation reinforces the companies’ long-standing collaboration and
demonstrates Halliburton’s ability to deliver high-value well construction solutions in
one of the region’s most complex offshore environments. The project highlights the
Company’s focus to support customer objectives throughout the well life cycle.
•Halliburton launched the Xaminer® Deep Testing logging service, the newest addition
to the Reservoir Xaminer™ formation testing service. Developed through close
collaboration with operators facing increasingly complex reservoirs, the service brings
deep-reading producibility and boundary identification earlier in the well life cycle to
support integrated decisions that complement traditional drill stem testing.
•Halliburton launched the Optimized Single-Trip Multi-Zone (OSTMZ®) sand control
system that reduces rig time, lowers total cost of ownership for operators, and safely
improves well productivity as complexity increases. The system supports efficient
completion operations and increases reservoir coverage in complex multizone wells.
Operators that complete multizone wells often manage extended schedules, multiple
service-tool trips, and increased operational exposure. The OSTMZ sand control
system addresses these challenges and treats multiple zones in a single trip, without
deployment-tool repositioning or repeated surface-equipment testing.
•Halliburton held its 2026 Technology Showcase from May 4-7 in Houston, which was
attended by nearly 400 industry professionals from around the world. The event
brought industry and technical leaders together and showed how digital capabilities
translate into real-time execution at the wellsite to improve asset performance for our
customers. Halliburton showcased measurable value from the integration of software,
artificial intelligence, and automation into real-time operations.
•Halliburton announced the acquisition of InformatiQ AS, a Norway‑based software
company that develops cloud‑native applications for subsurface, drilling, well, and
logistics data. The acquisition converts a long‑standing collaboration into full
ownership, strengthens Landmark’s Agile Asset Management offering, and extends
its digital portfolio into new operational domains.
•Halliburton was awarded lump sum turnkey contracts by Aramco for multiple onshore
fields in the Kingdom of Saudi Arabia. The awards expand Halliburton’s role in the
program and demonstrate the Company’s ability to grow through integrated well
delivery at scale. The multi-year contracts encompass approximately 285 planned
wells. Halliburton will deliver a fully integrated execution model that includes oil re-
entry operations, drilling, completions, and workovers. The integrated approach
supports maximum asset value through operational consistency and timely well
delivery and helps advance Aramco’s objectives to maintain efficiency in its onshore
portfolio.
•Halliburton was awarded a multi-year contract from Aramco to deliver integrated
stimulation and completion services for unconventional gas development in the
Kingdom of Saudi Arabia. This award is part of a broader multi-billion contract,
supporting one of the largest unconventional gas development programs globally.
This award builds on Halliburton’s established portfolio supporting Aramco’s
unconventional program. Across many of the Kingdom’s unconventional plays,
Halliburton delivers a comprehensive suite of drilling and completion solutions. Its
integrated service model is designed to support high-intensity development programs
and improve operational efficiency, workflow predictability, and execution reliability.
This collaboration supports broader regional efforts toward integrated unconventional
development programs.
•Halliburton wins major integrated well construction contracts for the GranMorgu
deepwater development offshore Suriname, operated by TotalEnergies. The
agreement includes drilling and completions services for a long-term program.
Halliburton will deploy a fully integrated, digital and automation execution model that
unites planning, engineering, and operations to improve performance, accelerate
learning, and reduce total cost of ownership throughout well construction.
•Halliburton has been awarded a contract by Basra Oil Company to provide Integrated
Field Management Services and Engineering, Procurement, and Construction
Management (EPCM) for the development of the Bin Umar and Sindbad oil and gas
fields in southern Iraq. The contract scope includes field development planning,
production optimization, digital solutions, and EPCM services for the two fields.
Halliburton will deploy the Landmark portfolio to build a digital foundation that
connects subsurface insights, well delivery, production operations, and business
planning. Halliburton digitally integrates planning and execution to improve visibility,
increase efficiency, and support faster, higher-quality decisions.
(1)
Adjusted net income per diluted share is a non-GAAP financial measure; please see definition of Adjusted
Net Income Per Diluted Share in Footnote Table 3 and 4.
(2)
Adjusted operating margin is a non-GAAP financial measure; please see reconciliation of Operating
Income to Adjusted Operating Income in Footnote Table 1 and 2.
(3)
Free cash flow is a non-GAAP financial measure; please see reconciliation of Cash Flows from Operating
Activities to Free Cash Flow in Footnote Table 5.
(4)
Adjusted net income is a non-GAAP financial measure; please see reconciliation of Net Income to
Adjusted Net Income in Footnote Table 3 and 4.
(5)
Adjusted operating income is a non-GAAP financial measure; please see reconciliation of Operating
Income to Adjusted Operating Income in Footnote Table 1 and 2.
About Halliburton
Halliburton is one of the world’s leading providers of products and services to the energy
industry. Founded in 1919, we create innovative technologies, products, and services that
help our customers maximize their value throughout the life cycle of an asset and advance a
sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn,
YouTube, Instagram, and Facebook.
Forward-looking Statements
The statements in this press release that are not historical statements are forward-looking
statements within the meaning of the federal securities laws. These statements are subject
to numerous risks and uncertainties, many of which are beyond the company's control,
which could cause actual results to differ materially from the results expressed or implied by
the statements. These risks and uncertainties include, but are not limited to: changes in the
demand for or price of oil and/or natural gas, including as a result of development of
alternative energy sources, general economic conditions such as inflation and recession, the
ability of the OPEC+ countries to agree on and comply with production quotas, and other
causes; changes in capital spending by our customers; the modification, continuation or
suspension of our shareholder return framework, including the payment of dividends and
purchases of our stock, which will be subject to the discretion of our Board of Directors and
may depend on a variety of factors, including our results of operations and financial
condition, growth plans, capital requirements and other conditions existing when any
payment or purchase decision is made; potential catastrophic events related to our
operations, and related indemnification and insurance; protection of intellectual property
rights; cyber-attacks and data security; compliance with environmental laws; changes in
government regulations and regulatory requirements, particularly those related to oil and
natural gas exploration, the environment, radioactive sources, explosives, chemicals,
hydraulic fracturing services, and climate-related initiatives; assumptions regarding the
generation of future taxable income, and compliance with laws related to and disputes with
taxing authorities regarding income taxes; risks of international operations, including risks
relating to unsettled political conditions, war, the effects of terrorism, foreign exchange rates
and controls, international trade and regulatory controls, tariffs, and sanctions, and doing
business with national oil companies; weather-related issues, including the effects of
hurricanes and tropical storms; delays or failures by customers to make payments owed to
us; infrastructure issues in the oil and natural gas industry; availability and cost of highly
skilled labor and raw materials; completion of potential dispositions, and acquisitions, and
integration and success of acquired businesses and joint ventures; risks related to the
deployment of artificial intelligence. Halliburton's Form 10-K for the year ended December
31, 2025, Form 10-Q for the quarter ended March 31, 2026, Current Reports on Form 8-K
and other Securities and Exchange Commission filings discuss some of the important risk
factors identified that may affect Halliburton's business, results of operations, and financial
condition. Halliburton undertakes no obligation to revise or update publicly any forward-
looking statements for any reason, except as required by law.
HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Millions of dollars and shares except per share data)
(Unaudited)
Three Months Ended
June 30,
March 31,
2026
2025
2026
Revenue:
Completion and Production
$3,202
$3,171
$3,016
Drilling and Evaluation
2,512
2,339
2,386
Total revenue
$5,714
$5,510
$5,402
Operating income:
Completion and Production
$474
$513
$439
Drilling and Evaluation
338
312
351
Corporate and other
(83)
(66)
(69)
SAP S4 upgrade expense
(46)
(32)
(42)
Impairments and other credits (a)
95
—
—
Total operating income
778
727
679
Interest expense, net
(83)
(92)
(82)
Other, net
(31)
(24)
(28)
Income before income taxes
664
611
569
Income tax provision (b)
(126)
(131)
(105)
Net income
$538
$480
$464
Net income attributable to noncontrolling interest
(4)
(8)
(3)
Net income attributable to company
$534
$472
$461
Basic and diluted net income per share
$0.64
$0.55
$0.55
Basic weighted average common shares outstanding
836
857
837
Diluted weighted average common shares outstanding
838
857
839
(a)
See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months
ended June 30, 2026.
(b)
The income tax provision during the three months ended June 30, 2026 includes the tax effect on impairments and
other credits. The income tax provision during the three months ended March 31, 2026 includes a $32 million tax
benefit associated with a valuation allowance release.
See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.
See Footnote Table 3 for Reconciliation of Net Income to Adjusted Net Income.
HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Millions of dollars and shares except per share data)
(Unaudited)
Six Months Ended
June 30,
2026
2025
Revenue:
Completion and Production
$6,218
$6,291
Drilling and Evaluation
4,898
4,636
Total revenue
$11,116
$10,927
Operating income:
Completion and Production
$913
$1,044
Drilling and Evaluation
689
664
Corporate and other
(152)
(132)
SAP S4 upgrade expense
(88)
(62)
Impairments and other (charges) credits (a)
95
(356)
Total operating income
1,457
1,158
Interest expense, net
(165)
(178)
Other, net
(59)
(63)
Income before income taxes
1,233
917
Income tax provision (b)
(231)
(234)
Net income
$1,002
$683
Net income attributable to noncontrolling interest
(7)
(7)
Net income attributable to company
$995
$676
Basic and diluted net income per share
$1.19
$0.78
Basic weighted average common shares outstanding
836
862
Diluted weighted average common shares outstanding
838
862
(a)
See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended
June 30, 2026 and June 30, 2025.
(b)
The income tax provision during the six months ended June 30, 2026, includes the tax effect on impairments and other
(charges) credits and a $32 million tax benefit associated with a valuation allowance release. The income tax provision
during the six months ended June 30, 2025, includes the tax effect on impairments and other (charges) credits.
See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.
See Footnote Table 4 for Reconciliation of Net Income to Adjusted Net Income.
HALLIBURTON COMPANY
Condensed Consolidated Balance Sheets
(Millions of dollars)
(Unaudited)
June 30,
December 31,
2026
2025
Assets
Current assets:
Cash and equivalents
$2,048
$2,206
Receivables, net
5,325
4,942
Inventories
3,056
2,976
Other current assets
1,453
1,274
Total current assets
11,882
11,398
Property, plant, and equipment, net
5,173
5,261
Goodwill
3,020
2,938
Deferred income taxes
2,331
2,298
Operating lease right-of-use assets
1,019
938
Other assets
2,403
2,177
Total assets
$25,828
$25,010
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
$3,456
$3,133
Accrued employee compensation and benefits
681
767
Current portion of operating lease liabilities
287
263
Current maturities of long-term debt
90
—
Other current liabilities
1,373
1,425
Total current liabilities
5,887
5,588
Long-term debt
7,071
7,158
Operating lease liabilities
751
712
Employee compensation and benefits
413
428
Other liabilities
654
619
Total liabilities
14,776
14,505
Company shareholders’ equity
11,010
10,461
Noncontrolling interest in consolidated subsidiaries
42
44
Total shareholders’ equity
11,052
10,505
Total liabilities and shareholders’ equity
$25,828
$25,010
HALLIBURTON COMPANY
Condensed Consolidated Statements of Cash Flows
(Millions of dollars)
(Unaudited)
Six Months Ended
Three Months
Ended
June 30,
June 30,
2026
2025
2026
Cash flows from operating activities:
Net income
$1,002
$683
$538
Adjustments to reconcile net income to cash flows from
operating activities:
Depreciation, depletion, and amortization
591
561
296
Working capital (a)
(187)
100
65
Impairments and other charges (credits)
(95)
356
(95)
Other operating activities
(214)
(427)
20
Total cash flows provided by operating activities
1,097
1,273
824
Cash flows from investing activities:
Capital expenditures
(427)
(656)
(235)
Payments to acquire businesses
(107)
(162)
(10)
Purchases of equity investments
(101)
(345)
(101)
Purchases of investment securities
(93)
(115)
(91)
Proceeds from sales of property, plant, and equipment
121
89
79
Sales of investment securities
49
65
22
Sale of an equity investment
—
120
—
Other investing activities
(68)
(36)
(47)
Total cash flows used in investing activities
(626)
(1,040)
(383)
Cash flows from financing activities:
Stock repurchase program
(308)
(507)
(208)
Dividends to shareholders
(285)
(292)
(143)
Other financing activities
(26)
(12)
(31)
Total cash flows used in financing activities
(619)
(811)
(382)
Effect of exchange rate changes on cash
(10)
(2)
(14)
Increase (decrease) in cash and equivalents
(158)
(580)
45
Cash and equivalents at beginning of period
2,206
2,618
2,003
Cash and equivalents at end of period
$2,048
$2,038
$2,048
(a)
Working capital includes receivables, inventories, and accounts payable.
See Footnote Table 5 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow.
HALLIBURTON COMPANY
Revenue and Operating Income Comparison
By Operating Segment and Geographic Region
(Millions of dollars)
(Unaudited)
Three Months Ended
June 30,
March 31,
Revenue
2026
2025
2026
By operating segment:
Completion and Production
$3,202
$3,171
$3,016
Drilling and Evaluation
2,512
2,339
2,386
Total revenue
$5,714
$5,510
$5,402
By geographic region:
North America
$2,276
$2,259
$2,136
Latin America
1,123
977
1,090
Europe/Africa/CIS
1,017
820
858
Middle East/Asia
1,298
1,454
1,318
Total revenue
$5,714
$5,510
$5,402
Operating Income
By operating segment:
Completion and Production
$474
$513
$439
Drilling and Evaluation
338
312
351
Total operations
812
825
790
Corporate and other
(83)
(66)
(69)
SAP S4 upgrade expense
(46)
(32)
(42)
Impairments and other credits
95
—
—
Total operating income
$778
$727
$679
See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.
HALLIBURTON COMPANY
Revenue and Operating Income Comparison
By Operating Segment and Geographic Region
(Millions of dollars)
(Unaudited)
Six Months Ended
June 30,
Revenue
2026
2025
By operating segment:
Completion and Production
$6,218
$6,291
Drilling and Evaluation
4,898
4,636
Total revenue
$11,116
$10,927
By geographic region:
North America
$4,412
$4,495
Latin America
2,213
1,873
Europe/Africa/CIS
1,875
1,595
Middle East/Asia
2,616
2,964
Total revenue
$11,116
$10,927
Operating Income
By operating segment:
Completion and Production
$913
$1,044
Drilling and Evaluation
689
664
Total operations
1,602
1,708
Corporate and other
(152)
(132)
SAP S4 upgrade expense
(88)
(62)
Impairments and other (charges) credits
95
(356)
Total operating income
$1,457
$1,158
See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.
FOOTNOTE TABLE 1
HALLIBURTON COMPANY
Reconciliation of Operating Income to Adjusted Operating Income
(Millions of dollars)
(Unaudited)
Three Months Ended
June 30,
March 31,
2026
2025
2026
Operating income
$778
$727
$679
Impairments and other charges (credits):
Gain on investments
(64)
—
—
Loss on sale of a business
17
—
—
Other
(48)
—
—
Total impairments and other credits (a)
(95)
—
—
Adjusted operating income (b) (c)
$683
$727
$679
(a)
During the three months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a $54
million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from
remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund
recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business, which
closed in April 2026.
(b)
Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total
impairments and other credits” for the respective periods. Management believes that operating income adjusted for
impairments and other charges (credits) is useful to investors to assess and understand operating performance, especially
when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily
because management views the excluded items to be outside of the company's normal operating results. Management
analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in
the business, and to establish operational goals. The adjustments remove the effect of these items.
(c)
We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-
GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating
margin is useful to investors to assess and understand operating performance.
FOOTNOTE TABLE 2
HALLIBURTON COMPANY
Reconciliation of Operating Income to Adjusted Operating Income
(Millions of dollars)
(Unaudited)
Six Months Ended
June 30,
2026
2025
Operating income
$1,457
$1,158
Impairments and other charges (credits):
Gain on investments
(64)
—
Loss on sale of a business
17
—
Severance costs
—
107
Impairment of assets held for sale
—
104
Impairment of real estate facilities
—
53
Other
(48)
92
Total impairments and other charges (credits) (a)
(95)
356
Adjusted operating income (b) (c)
$1,362
$1,514
(a)
During the six months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a
$54 million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from
remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund
recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business,
which closed in April 2026. During the six months ended June 30, 2025, Halliburton recognized a pre-tax charge of
$356 million as a result of severance costs, an impairment of assets held for sale, an impairment on real estate
facilities, and other items, primarily related to legacy environmental remediation cost estimate increases.
(b)
Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total
impairments and other charges (credits)” for the respective periods. Management believes that operating income
adjusted for impairments and other charges (credits) is useful to investors to assess and understand operating
performance, especially when comparing those results with previous and subsequent periods or forecasting
performance for future periods, primarily because management views the excluded items to be outside of the
company's normal operating results. Management analyzes operating income without the impact of these items as an
indicator of performance, to identify underlying trends in the business, and to establish operational goals. The
adjustments remove the effect of these items.
(c)
We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a
non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted
operating margin is useful to investors to assess and understand operating performance.
FOOTNOTE TABLE 3
HALLIBURTON COMPANY
Reconciliation of Net Income to Adjusted Net Income
(Millions of dollars and shares except per share data)
(Unaudited)
Three Months Ended
June 30,
March 31,
2026
2025
2026
Net income attributable to company
$534
$472
$461
Adjustments:
Impairments and other credits (a)
(95)
—
—
Total adjustments, before taxes
(95)
—
—
Tax adjustment (b)
22
—
—
Total adjustments, net of taxes (c)
(73)
—
—
Adjusted net income attributable to company (c)
$461
$472
$461
Diluted weighted average common shares outstanding
838
857
839
Net income per diluted share (d)
$0.64
$0.55
$0.55
Adjusted net income per diluted share (d)
$0.55
$0.55
$0.55
(a)
See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months ended
June 30, 2026.
(b)
During the three months ended June 30, 2026, the tax adjustment includes the tax effect on impairments and other
credits.
(c)
Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income
attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net
income adjusted for impairments and other credits, along with the tax adjustment, is useful to investors to assess and
understand operating performance, especially when comparing those results with previous and subsequent periods or
forecasting performance for future periods, primarily because management views the excluded items to be outside of the
company's normal operating results. Management analyzes net income without the impact of these items as an indicator
of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove
the effect of these items.
(d)
Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average
common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated
as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.”
Management believes adjusted net income per diluted share is useful to investors to assess and understand operating
performance.
FOOTNOTE TABLE 4
HALLIBURTON COMPANY
Reconciliation of Net Income to Adjusted Net Income
(Millions of dollars and shares except per share data)
(Unaudited)
                 
Six Months Ended
June 30,
2026
2025
Net income attributable to company
$995
$676
Adjustments:
Impairments and other charges (credits) (a)
(95)
356
Total adjustments, before taxes
(95)
356
Tax adjustment (b)
22
(43)
Total adjustments, net of taxes (c)
(73)
313
Adjusted net income attributable to company (c)
$922
$989
Diluted weighted average common shares outstanding
838
862
Net income per diluted share (d)
$1.19
$0.78
Adjusted net income per diluted share (d)
$1.10
$1.15
(a)
See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended
June 30, 2026 and June 30, 2025.
(b)
During the six months ended June 30, 2026 and June 30, 2025, the tax adjustment includes the tax effect on impairments
and other charges (credits).
(c)
Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income
attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net
income adjusted for the impairments and other charges (credits), along with the tax adjustment, is useful to investors to
assess and understand operating performance, especially when comparing those results with previous and subsequent
periods or forecasting performance for future periods, primarily because management views the excluded items to be
outside of the company's normal operating results. Management analyzes net income without the impact of these items
as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total
adjustments remove the effect of these items.
(d)
Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average
common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated
as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.”
Management believes adjusted net income per diluted share is useful to investors to assess and understand operating
performance.
FOOTNOTE TABLE 5
HALLIBURTON COMPANY
Reconciliation of Cash Flows from Operating Activities to Free Cash Flow
(Millions of dollars)
(Unaudited)
Six Months Ended
Three Months Ended
June 30,
June 30,
2026
2025
2026
Total cash flows provided by operating activities
$1,097
$1,273
$824
Capital expenditures
(427)
(656)
(235)
Proceeds from sales of property, plant, and equipment
121
89
79
Free cash flow (a)
$791
$706
$668
(a)
Free Cash Flow is a non-GAAP financial measure which is calculated as “Total cash flows provided by operating activities”
less “Capital expenditures” plus “Proceeds from sales of property, plant, and equipment.” Management believes that Free
Cash Flow is a key measure to assess liquidity of the business and is consistent with the disclosures of Halliburton's
direct, large-cap competitors.
Conference Call Details
Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, July 21,
2026, to discuss its second quarter 2026 financial results. The call will begin at 8:00
a.m. CT (9:00 a.m. ET).
Please visit the Halliburton website to listen to the call via live webcast. A recorded
version will be available for seven days under the same link immediately following the
conclusion of the conference call. You can also pre-register for the conference call and
obtain your dial in number and passcode by clicking here.
CONTACTS
Investor Relations
David Coleman
Investors@Halliburton.com
281-871-2688
Media Relations
Alexandra Franceschi
PR@Halliburton.com
281-871-2601

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