EarningsQ2 2026 Earnings Report

Halliburton (HAL) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:HAL Q2 2026 EPS Results

Actual EPS$9.31

Consensus EPS$9.10

Beat/MissBeat by +$0.20

One Year Ago EPS$9.31

MX:HAL Q2 2026 Revenue Results

Actual Revenue$96.69B

Expected Revenue$93.00B

Beat/MissBeat by +$3.69B

YoY Revenue Growth+3.70%

Earnings Announcement Details

QuarterQ2 2026

Date07/21/2026

TimeBefore Open

Conference CallTuesday, July 21, 2026

MX:HAL Upcoming Earnings

Halliburton's next earnings date is estimated for October 27, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:HAL Q2 2026 Earnings Call

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Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 21, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a constructive and growth-oriented outlook: solid sequential revenue growth, strong cash generation, resumed buybacks, robust international contract awards (including transformational IFMS work in Iraq) and clear technology-led differentiation underpin expectations for revenue growth and margin expansion. Near-term headwinds include Middle East operational disruption, mobilization/start-up costs and some seasonal/software timing impacts, but management's guidance builds in a steady activity baseline and anticipates sequential margin improvement in both business segments for Q3.

Company Guidance

Halliburton’s Q3 guidance builds off Q2 benchmarks of $5.7B revenue, $683M adjusted operating income (12% adjusted operating margin), $824M cash from operations, $668M free cash flow, $0.64 reported EPS ($0.55 adjusted), $3.4B international and $2.3B North America revenue, C&P $3.2B (15% op margin) and D&E $2.5B (13% op margin). For Q3 management expects C&P revenue flat to down 2% with margins up 125–175 bps and D&E revenue down 3–5% with margins up 25–75 bps; corporate expense ~$80M, SAP spend ~$45M, net interest up ~ $5M (to ≈$88M), other net ≈$35M, and an effective tax rate ≈19%. Full‑year capex is pegged at ~$1.1B (Q2 capex $235M), the company repurchased ~ $200M of stock in Q2 and plans to re‑establish buybacks on a continuous basis, and assumptions include steady Middle East activity (no recovery to pre‑war levels baked in) while international ex‑Middle East is expected to grow low double‑digits, underpinning management’s expectation of revenue growth and margin expansion.

Total Company Revenue and Margin Expansion

Q2 total revenue of $5.7 billion (up 6% sequentially vs Q1 2026) with adjusted operating income of $683 million and adjusted operating margin of 12%.

Strong Cash Generation and Shareholder Returns

Generated $824 million of cash flow from operations and $668 million of free cash flow in Q2; repurchased approximately $200 million of common stock and management expects to re-establish an ongoing buyback run rate.

International Revenue Strength and Contract Wins

International revenue of $3.4 billion (highest Q2 international revenue in more than a decade; reported +6% year-over-year by management and +5% sequentially by segment reporting). Secured several large awards including an integrated field management services (IFMS) award in Iraq, a sizable TotalEnergies award in Suriname, and significant offshore and onshore wins across Norway, Namibia, Algeria, Argentina, and the North Sea.

North America Recovery

North America revenue of $2.3 billion (flat year-over-year; +7% sequentially). Management noted improved activity, modest pricing gains, rig adds (30+ rigs cited), and technology adoption driving improved margins and outlook for continued progress.

Segment-Level Performance — C&P

Completion & Production division: Q2 revenue $3.2 billion (+6% vs Q1), operating income $474 million (+8% vs Q1), operating margin 15%. Q3 guidance: revenue flat to down 2% sequentially with margins expected to improve ~125 to 175 basis points.

Segment-Level Performance — D&E

Drilling & Evaluation division: Q2 revenue $2.5 billion (+5% vs Q1), operating income $338 million (down 4% vs Q1) and operating margin 13%. Q3 guidance: revenue down 3–5% sequentially with margins expected to improve ~25 to 75 basis points.

Technology, Digital and M&A Momentum

Notable technology deployments and integrations (Zeus IQ, Logix closed-loop drilling, Octave automated pumping control). Strategic tuck-ins and product integrations include Sikal (directional drilling) and Informatic; first Zeus fleet mobilized in Argentina; Octave first offshore implementation on new North Sea STEm vessel. Management highlighted technology as a key differentiator and growth driver.

Geographic Outperformance — Europe & Africa

Europe & Africa revenue of ~$1.0 billion, up 19% sequentially driven by North Sea activity, Namibia and Egypt well construction, East Med completion tool sales, and Angola project management activity.

Capital Spend Discipline

Q2 capex of $235 million and full-year 2026 capex guidance of approximately $1.1 billion, consistent with stated capital discipline while supporting growth opportunities.

MX:HAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 27, 2026	2026 (Q3)	9.90 / -	9.815	―
Jul 21, 2026	2026 (Q2)	9.10 / 9.31	9.307	0.00% (0.00)
Apr 21, 2026	2026 (Q1)	8.44 / 9.31	10.153	-8.33% (-0.85)
Jan 21, 2026	2025 (Q4)	9.32 / 11.68	11.845	-1.43% (-0.17)
Oct 21, 2025	2025 (Q3)	8.44 / 9.81	12.353	-20.55% (-2.54)
Jul 22, 2025	2025 (Q2)	9.34 / 9.31	13.538	-31.25% (-4.23)
Apr 22, 2025	2025 (Q1)	10.19 / 10.15	12.861	-21.05% (-2.71)
Jan 22, 2025	2024 (Q4)	11.76 / 11.85	14.553	-18.60% (-2.71)
Nov 07, 2024	2024 (Q3)	12.74 / 12.35	13.368	-7.59% (-1.02)
Jul 19, 2024	2024 (Q2)	13.54 / 13.54	13.03	3.90% (+0.51)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed