Halliburton Q3 2026 net income $0.50, adjusted $0.60

Halliburton Company reported third-quarter 2026 net income of $417 million, or $0.50 per diluted share, with adjusted net income of $501 million, or $0.60 per diluted share. The company generated revenue of $5.7 billion and free cash flow of $156 million during the period.

Chief Executive Officer Jeff Miller stated that revenue exceeded expectations and that the company took steps to improve margins. Miller noted that the current energy disruption is expected to drive multi-year demand growth for oilfield services. He projected mid-single digit revenue growth for 2027 and operating margins of approximately 15%, assuming a flat North America market and no recovery in North America hydraulic fracturing.

Total revenue remained flat compared to the second quarter of 2026. Operating income was $624 million, down from $778 million in the prior quarter, while adjusted operating income rose to $731 million from $683 million. Adjusted EBITDA increased to $1.0 billion from $948 million in the second quarter.

The Completion and Production segment reported revenue of $3.1 billion, a 4% sequential decrease driven by lower stimulation activity in the Western Hemisphere. Operating income for this segment fell 4% to $457 million. Conversely, the Drilling and Evaluation segment saw revenue rise 4% to $2.6 billion and operating income jump 16% to $391 million, supported by improved activity in the Middle East and Latin America.

Geographically, North America revenue declined 5% to $2.2 billion due to lower pressure pumping services in the U.S. land. International revenue increased 3% to $3.5 billion. The Middle East and Asia region led growth with an 8% sequential increase to $1.4 billion, driven by higher activity in Saudi Arabia and Kuwait. Latin America and Europe/Africa revenues remained flat at $1.1 billion and $1.0 billion, respectively.

Halliburton repurchased approximately $250 million of common stock and paid dividends of $0.17 per share during the quarter. The company also recorded a pre-tax charge of $107 million related to impairments and other charges.

Recent contract awards include an integrated well construction and completions contract from Eni for the Cronos ultra-deepwater development in Cyprus, and an integrated contract from bp for the Bumerangue field offshore deepwater Brazil. Halliburton also signed memorandums of understanding with Eneva and WESCA to support energy development in Venezuela.

The company deployed LOGIX automation on a deepwater exploration well with Eni offshore Indonesia and entered a multiyear agreement with Pampa Energía for digital transformation in the Vaca Muerta shale play. Additionally, Kuwait Oil Company awarded Halliburton a multiyear agreement to support the Ahmadi Innovation Valley initiative.