Jun 2026 (Q2 FY26) — Jul 21, 2026
Halliburton Q2 FY26 — Strong International Performance and North America Recovery
Read the full callHalliburton (HAL) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Halliburton earnings: last reported Tue, 21 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 5,714 | +3.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.6 | +0.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 534 | +13.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
57 of 70 judged targets kept · 47 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion and Production division sequential revenue | increase 4% to 6% | Mar 2026 | revenue in Q2 was $3.2 billion, an increase of 6% when compared to Q1. | Achieved |
| Completion and Production division sequential operating margin change | improve 50 to 100 basis points | Mar 2026 | Yes. I think in both divisions, we were a little higher than guidance on revenue. We were on the lower end of margin overall for both divisions as well. | Missed |
| Full-year international revenue growth outside the Middle East | year-over-year revenue growth in the mid- to high single digits | Mar 2026 | Next, let's turn to our business outside the Middle East, where we expect year-over-year growth in the low double digits. | Revised Up |
13 of HALLIBURTON CO's 117 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 114 more targets are in the full ledger.
Claimed
- Total company revenue reached $5.7 billion, with an adjusted operating margin of 12%.
- International revenue was $3.4 billion, marking a 6% year-over-year increase and the highest Q2 in over a decade.
- Generated $824 million of cash flow from operations and $668 million of free cash flow.
- Repurchased approximately $200 million of common stock during the quarter.
- North America business showed sequential improvement, with D&E division growing 9% year-over-year.
Qualified
- Middle East Asia revenue decreased 2% sequentially to $1.3 billion due to ongoing conflict disruptions.
- Drilling and Evaluation operating income decreased 4% sequentially to $338 million, primarily due to the seasonal roll-off of software sales.
- Lower specialty chemical activity in North America resulted from the sale of the Chemical business.
Price
$32.98 −1.55% · −$0.52
Performance −99.3% 1Y
1Y: $4,878.5 on 17 Oct 2025 → $32.98. High $5,099 (18 Aug 2026), low $31.54 (29 Sept 2026).
- Previous close
- $33.5
- 52-week range
- $31.54 – $5,099
- One year
- −99.32%
Overview
- Symbol
- HAL
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
57 of 70 judged targets kept · 47 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion and Production division sequential revenue | increase 4% to 6% | Mar 2026 | revenue in Q2 was $3.2 billion, an increase of 6% when compared to Q1. | Achieved |
| Completion and Production division sequential operating margin change | improve 50 to 100 basis points | Mar 2026 | Yes. I think in both divisions, we were a little higher than guidance on revenue. We were on the lower end of margin overall for both divisions as well. | Missed |
| Full-year international revenue growth outside the Middle East | year-over-year revenue growth in the mid- to high single digits | Mar 2026 | Next, let's turn to our business outside the Middle East, where we expect year-over-year growth in the low double digits. | Revised Up |
Claimed
- Total company revenue reached $5.7 billion, with an adjusted operating margin of 12%.
- International revenue was $3.4 billion, marking a 6% year-over-year increase and the highest Q2 in over a decade.
- Generated $824 million of cash flow from operations and $668 million of free cash flow.
- Repurchased approximately $200 million of common stock during the quarter.
- North America business showed sequential improvement, with D&E division growing 9% year-over-year.
Qualified
- Middle East Asia revenue decreased 2% sequentially to $1.3 billion due to ongoing conflict disruptions.
- Drilling and Evaluation operating income decreased 4% sequentially to $338 million, primarily due to the seasonal roll-off of software sales.
- Lower specialty chemical activity in North America resulted from the sale of the Chemical business.
The full ledger
Open HALLIBURTON CO’s full ledger
A free account opens 5 company ledgers a month. All 117 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 21, 2026
Halliburton Q1 FY26 — International Growth and North America Recovery Signs
Read the full callDec 2025 (Q4 FY25) — Jan 21, 2026
Halliburton Q4 FY25 — Strong Execution and International Growth Amidst North America Rebalancing
Read the full callEvery analysed call
Halliburton earnings calls (HAL)
Financials
What the filings say
Net profit, year on year: +13% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,697 | 5,610 | 5,417 | 5,510 | 5,600 | 5,657 | 5,402 | 5,714 |
| Expenses | 4,826 | 4,678 | 4,986 | 4,783 | 5,244 | 4,911 | 4,723 | 4,936 |
| Operating profit | 871 | 932 | 431 | 727 | 356 | 746 | 679 | 778 |
| Operating margin | 15.3% | 16.6% | 8.0% | 13.2% | 6.4% | 13.2% | 12.6% | 13.6% |
| Profit before tax | 734 | 793 | 306 | 611 | 219 | 635 | 569 | 664 |
| Tax rate | 21.0% | 22.6% | 33.7% | 21.4% | 90.9% | 7.2% | 18.4% | 19.0% |
| Net profit | 571 | 615 | 204 | 472 | 18 | 589 | 461 | 534 |
| EPS ($ per share) | 0.65 | — | 0.24 | 0.55 | 0.02 | — | 0.55 | 0.64 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2,671 | 2,669 | 2,666 | 2,665 | 2,664 | 2,663 | 2,662 | 2,659 |
| Reserves | 13,739 | 11,989 | 8,691 | 9,710 | 10,572 | 12,536 | 14,332 | 15,036 |
| Total liabilities | 16,438 | 17,352 | 15,697 | 15,593 | 15,278 | 15,250 | 15,039 | 14,505 |
| Fixed assets | 8,873 | 7,310 | 4,325 | 4,326 | 4,348 | 4,900 | 5,113 | 5,261 |
| Total assets | 25,982 | 25,377 | 20,680 | 22,321 | 23,255 | 24,683 | 25,587 | 25,010 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,157 | 2,445 | 1,881 | 1,911 | 2,242 | 3,458 | 3,865 | 2,926 |
| Cash from investing | -1,993 | -1,445 | -486 | -534 | -967 | -1,659 | -1,654 | -1,325 |
| Cash from financing | -1,419 | -695 | -1,007 | -838 | -1,798 | -1,671 | -1,730 | -1,987 |
| Net cash flow | -329 | 260 | 295 | 481 | -698 | -82 | 354 | -412 |
| Capital expenditure | -2,026 | -1,530 | -728 | -799 | -1,011 | -1,379 | -1,442 | -1,254 |
| Free cash flow | 1,131 | 915 | 1,153 | 1,112 | 1,231 | 2,079 | 2,423 | 1,672 |
HAL revenue by segment
Drilling and Evaluation grew from 42% to 44% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Completion and Production | 58% | 57% | 58% | 58% | 58% | 58% | 56% | 56% | +1.0% |
| Drilling and Evaluation | 42% | 43% | 42% | 42% | 42% | 42% | 44% | 44% | +7.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- North America 40% ↓ 2 pt
- Middle East Asia 23% ↓ 4 pt
- Latin America 20% ↑ 1 pt
- Europe Africa CIS 18% ↑ 5 pt
As HAL cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
72 filings between Nov 12, 2025 and Aug 31, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$42.80M
23 sales by 10 insiders
87% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 18
- Award — granted as compensation
- 7
- Option exercise — converted options into shares
- 24
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Miller Jeffrey Allen | — | $16.68M | Aug 18, 2026 |
| Beckwith Van H. | — | $11.58M | May 15, 2026 |
| Richard Mark | — | $4.44M | Nov 12, 2025 |
| Slocum Jeffrey Shannon | — | $3.37M | Aug 19, 2026 |
| Pope Lawrence J | — | $3.23M | Jan 5, 2026 |
| Carre Eric | — | $1.82M | Aug 31, 2026 |
| Maxwell Michael Casey | — | $852.4K | May 5, 2026 |
| McKeon Timothy | — | $495.7K | Apr 30, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 31, 2026 | Carre Eric EVP & Chief Financial Officer | Sale 10b5-1 plan | 24,777 | $929.1K |
| Aug 19, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Sale 10b5-1 plan | 52,572 | $1.84M |
| Aug 18, 2026 | Miller Jeffrey Allen Director, President & CEO | Sale 10b5-1 plan | 124,483 | $4.36M |
| Aug 18, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Sale 10b5-1 plan | 16,121 | $565.6K |
| Jun 18, 2026 | Carre Eric EVP & Chief Financial Officer | Sale 10b5-1 plan | 24,778 | $889.3K |
| May 15, 2026 | Beckwith Van H. EVP, Secretary and CLO | Sale 10b5-1 plan | 198,349 | $8.19M |
| May 5, 2026 | Maxwell Michael Casey President - Western Hemisphere | Sale 10b5-1 plan | 6,782 | $284.8K |
| May 5, 2026 | Maxwell Michael Casey President - Western Hemisphere | Sale 10b5-1 plan | 13,566 | $567.6K |
| Apr 30, 2026 | Young Tobi M. Director | Sale | 500 | $20.9K |
| Apr 30, 2026 | McKeon Timothy Senior VP and Treasurer | Sale 10b5-1 plan | 8,655 | $363.5K |
| Apr 30, 2026 | Young Tobi M. Director | Sale | 5,625 | $234.7K |
| Mar 27, 2026 | Miller Jeffrey Allen Director, President & CEO | Sale 10b5-1 plan | 158,455 | $6.34M |
| Mar 16, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Sale 10b5-1 plan | 5,441 | $184.0K |
| Mar 16, 2026 | Beckwith Van H. EVP, Secretary and CLO | Sale 10b5-1 plan | 19,618 | $663.5K |
| Mar 6, 2026 | McKeon Timothy Senior VP and Treasurer | Sale 10b5-1 plan | 3,846 | $132.2K |
| Mar 5, 2026 | Sharp Jill D. SVP Internal Assurance Svcs. | Tax withheld | 1,239 | $44.6K |
| Mar 5, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Tax withheld | 3,404 | $122.5K |
| Mar 5, 2026 | Miller Jeffrey Allen Director, President & CEO | Tax withheld | 45,572 | $1.64M |
| Mar 5, 2026 | Carre Eric EVP & Chief Financial Officer | Tax withheld | 12,729 | $458.2K |
| Mar 5, 2026 | Beckwith Van H. EVP, Secretary and CLO | Tax withheld | 12,729 | $458.2K |
| Mar 5, 2026 | McKeon Timothy Senior VP and Treasurer | Tax withheld | 1,239 | $44.6K |
| Mar 5, 2026 | Yassine Rami President - Eastern Hemisphere | Tax withheld | 1,407 | $50.7K |
| Mar 5, 2026 | Pope Lawrence J EVP and Chief Admin Officer | Tax withheld | 12,729 | $458.2K |
| Feb 27, 2026 | Sharp Jill D. SVP Internal Assurance Svcs. | Award | 5,085 | $183.1K |
| Feb 27, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Award | 8,845 | $318.4K |
| Feb 27, 2026 | Miller Jeffrey Allen Director, President & CEO | Award | 115,811 | $4.17M |
| Feb 27, 2026 | Beckwith Van H. EVP, Secretary and CLO | Award | 32,347 | $1.16M |
| Feb 27, 2026 | Carre Eric EVP & Chief Financial Officer | Award | 32,347 | $1.16M |
| Feb 27, 2026 | Pope Lawrence J EVP and Chief Admin Officer | Award | 32,347 | $1.16M |
| Feb 27, 2026 | Yassine Rami President - Eastern Hemisphere | Award | 5,897 | $212.3K |
| Feb 27, 2026 | McKeon Timothy Senior VP and Treasurer | Award | 5,085 | $183.1K |
| Jan 26, 2026 | Banks Margaret Katherine Director | Sale | 2,600 | $88.9K |
| Jan 23, 2026 | Miller Jeffrey Allen Director, President & CEO | Option exercise 10b5-1 plan | 171,200 | $5.38M |
| Jan 23, 2026 | Beckwith Van H. EVP, Secretary and CLO | Option exercise 10b5-1 plan | 54,348 | $1.28M |
| Jan 23, 2026 | Beckwith Van H. EVP, Secretary and CLO | Sale 10b5-1 plan | 54,348 | $1.90M |
| Jan 23, 2026 | Miller Jeffrey Allen Director, President & CEO | Sale 10b5-1 plan | 171,200 | $5.99M |
| Jan 9, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Sale 10b5-1 plan | 23,895 | $771.8K |
| Jan 9, 2026 | Beckwith Van H. EVP, Secretary and CLO | Sale 10b5-1 plan | 17,798 | $574.9K |
| Jan 8, 2026 | Yassine Rami President - Eastern Hemisphere | Tax withheld | 3,687 | $109.1K |
| Jan 8, 2026 | Slocum Jeffrey Shannon Director, EVP and COO | Tax withheld 10b5-1 plan | 7,912 | $234.2K |
| Jan 8, 2026 | Beckwith Van H. EVP, Secretary and CLO | Tax withheld 10b5-1 plan | 6,163 | $182.4K |
| Jan 8, 2026 | Sharp Jill D. SVP Internal Assurance Svcs. | Tax withheld | 2,789 | $82.6K |
| Jan 8, 2026 | Holzhauser Stephanie Spoelker SVP & Chief Accounting Officer | Tax withheld | 4,336 | $128.3K |
| Jan 8, 2026 | Richard Mark President - Western Hemisphere | Tax withheld | 7,469 | $221.1K |
| Jan 8, 2026 | Carre Eric EVP & Chief Financial Officer | Tax withheld | 6,283 | $186.0K |
| Jan 8, 2026 | McKeon Timothy Senior VP and Treasurer | Tax withheld | 1,105 | $32.7K |
| Jan 8, 2026 | Miller Jeffrey Allen Director, President & CEO | Tax withheld | 29,847 | $883.5K |
| Jan 8, 2026 | Pope Lawrence J EVP and Chief Admin Officer | Tax withheld | 6,163 | $182.4K |
| Jan 5, 2026 | Pope Lawrence J EVP and Chief Admin Officer | Sale 10b5-1 plan | 100,000 | $3.23M |
| Jan 2, 2026 | Pope Lawrence J EVP and Chief Admin Officer | Award 10b5-1 plan | 34,968 | $1.04M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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