Halliburton (HAL) AI Stock Analysis

Company Guidance

For Q4, Halliburton expects total company revenue to remain approximately flat to Q3, around $5.7 billion, operating income margin to improve about 70 basis points, and earnings per share to be approximately $0.62 to $0.64; C&P revenues are expected to increase 3 to 5% with operating margins improving 75- to 125- basis points, while D&E revenue is expected to be 3 to 5% lower with operating margins flat to up 50-basis-points. Capital expenditures for the full year 2026 are expected to be about $1.1 billion, Q4 cash flow from operations is expected to be about $1 billion, and free cash flow for the year is expected to be about $1.6 billion. For 2027, Halliburton expects revenue growth in the mid single digits, operating income margins to expand about 200-basis-points or to about 15 percent, assuming flat North America, Middle East activity in line with the second half of 26, and steady growth in other regions; about $500 to $600 million in operating profit is expected from the 200-basis-point margin improvement, with about half coming from cost savings, estimated cost savings of about $250 to $300 million, and incremental margins on additional revenue in the 20 to 30% range.