Halliburton Company (NYSE:HAL) delivered a stronger-than-expected first-quarter 2026 results, topping earnings and revenue estimates while signaling an early recovery in North America.
Strong Earnings Performance And Cash Flow
Halliburton reported first-quarter 2026 results above expectations, with adjusted EPS of 55 cents beating the 50 cents consensus and revenue of $5.40 billion topping estimates of $5.30 billion.
Net income rose to $461 million from $204 million a year earlier, while revenue remained essentially flat year over year. Operating margin was 13%.
The oil service company generated $273 million in operating cash flow and $123 million in free cash flow, ending the quarter with $2.0 billion in cash and approximately $7.2 billion in debt.
Halliburton returned $100 million through share repurchases and paid a 17 cents dividend, while incurring $42 million in SAP S4 migration costs.
CEO Jeff Miller said North America is in the “early innings of a recovery,” while international operations remained resilient despite Middle East disruptions, which reduced earnings by about 2 cents to 3 cents per share.
Segment And Regional Performance
Completion and Production revenue declined 3% to $3.0 billion, while operating income fell 17% to $439 million, due to weaker North America activity and softer Middle East …