Halliburton reported first-quarter 2026 net income of $461 million, or $0.55 per diluted share, up from $204 million, or $0.24 per share, a year earlier. Revenue was $5.4 billion, unchanged from the first quarter of 2025, while operating income rose to $679 million from $431 million.
Cash flow from operations was $273 million and free cash flow was $123 million. The company repurchased about $100 million of stock and paid dividends of $0.17 per share.
By segment, completion and production revenue fell 3% to $3.0 billion from $3.1 billion, and operating income dropped 17% to $439 million from $531 million. Halliburton said the decline reflected lower stimulation activity in North America, along with weaker completion tool sales and pressure pumping in the Middle East.
Drilling and evaluation revenue increased 4% to $2.4 billion from about $2.3 billion, while operating income was flat at $351 million. Higher project management work in Latin America and more drilling-related services in Europe and the Western Hemisphere were partly offset by weaker activity in the Middle East and lower wireline and fluid services elsewhere.
In North America, revenue declined 4% to $2.1 billion. International revenue rose 3% to $3.3 billion. Latin America posted the strongest regional growth, with revenue up 22% to $1.1 billion. Europe/Africa revenue climbed 11% to $858 million. Middle East/Asia revenue fell 13% to $1.3 billion.
Halliburton said the first quarter included a 2* to 3-cent per share hit from the Middle East conflict. Following these announcements, the company's shares moved 0.41%, and are now trading at a price of $38.79. If you want to know more, read the company's complete 8-K report here.
