Halliburton Q2 Net Income Jumps to $534M

By Hao Liu • Tuesday, July 21 10:53 • Permanent Link

Halliburton reported second-quarter 2026 net income of $534 million, or $0.64 a diluted share, up from $461 million, or $0.55 a share, in the first quarter.

Revenue rose to $5.7 billion from $5.4 billion sequentially, while operating income increased to $778 million from $679 million. Adjusted net income was $461 million, or $0.55 a share, compared with $0.55 a share in the prior quarter.

Cash flow from operations came in at $824 million, with free cash flow of $668 million. The company also repurchased about $200 million of stock during the quarter.

By segment, Completion and Production revenue increased 6% sequentially to $3.2 billion, while operating income rose 8% to $474 million. The gains were driven by higher stimulation activity in the Western Hemisphere and improved well intervention services in Asia.

Drilling and Evaluation revenue climbed 5% to $2.5 billion, but operating income fell 4% to $338 million. Halliburton said the revenue increase was led by stronger drilling-related services and wireline activity in North America, Europe/Africa and Asia, while operating income declined because of the seasonal roll-off of software sales.

In North America, revenue rose 7% to $2.3 billion, helped by higher stimulation and well construction activity in U.S. land and stronger fluids activity in the Gulf of America. In the international region, revenue increased 5% to $3.4 billion.

Latin America revenue rose 3% to $1.1 billion. Europe/Africa posted the strongest regional gain, with revenue up 19% to $1.0 billion. Middle East/Asia revenue slipped 2% to $1.3 billion, pressured by lower activity in Kuwait, Iraq and Qatar, partly offset by higher well construction in Saudi Arabia and the United Arab Emirates and stronger activity in Asia.

Halliburton said it spent $46 million on its SAP S/4 migration and recognized a pre-tax credit of $95 million related to impairments and other credits. As a result of these announcements, the company's shares have moved -6.92% on the market, and are now trading at a price of $32.68. For more information, read the company's full 8-K submission here.

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