Halliburton Earnings Rise on Latin America Strength
Halliburton earnings showed Q1 profit rise as steady Latin America and Europe demand offset Middle East weakness, widening margins and aiding cash returns.
KEY TAKEAWAYS
- Net income rose to $461 million, or $0.55 per diluted share, a 126% year-over-year increase.
- Revenue held at $5.4 billion while operating margin expanded to 13%.
- Free cash flow was $123 million, enabling about $100 million in share repurchases.
HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX
Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.
Halliburton earnings showed a first-quarter profit rise on April 21, 2026, as steady demand in Latin America and Europe offset a Middle East slowdown, widening operating margins and allowing continued cash returns to shareholders.
Quarter Results and Cash Returns
The company said in a press release on April 21, 2026, that net income reached $461 million, or $0.55 per diluted share, a 126% increase from a year earlier. Revenue held steady at $5.4 billion. Operating income rose to $679 million from $431 million, expanding the operating margin to 13%. Cash flow from operations was $273 million, with free cash flow totaling $123 million. Halliburton executed about $100 million in share repurchases. The announcement included no forward guidance. Results exceeded pre-announcement Street estimates for earnings per share and revenue, prompting several analysts to raise price targets ahead of the release.
Segment and Geographic Drivers
Drilling & Evaluation revenue increased 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. Operating income in this segment remained flat at $351 million. Headwinds included lower activity across multiple product lines in the Middle East, reduced wireline work in the Eastern Hemisphere, and weaker fluid services in the Gulf of America.
Completion & Production revenue, implied at roughly $3.0 billion, showed strength in completion-tool sales in the Western Hemisphere and improved pressure-pumping activity in Africa. However, the segment faced lower stimulation activity in North America and declines in the Middle East.
North America revenue fell 4% to $2.1 billion. U.S. land saw reduced stimulation and artificial-lift activity, partially offset by increased drilling services and higher completion-tool sales. The Gulf of America experienced lower stimulation activity and decreased fluid services.
The quarter highlighted resilient international demand and margin improvement, giving Halliburton flexibility to sustain capital returns despite ongoing pressure in the Middle East.
