Oilfield services giant Halliburton recorded a net income of $461 million, or $0.55 per diluted share, for the first quarter (Q1) of 2026, more than doubling the $204 million reported in Q1 2025, the company announced on April 21, 2026. Total revenue for the quarter remained flat year-on-year (YoY) at $5.4 billion, while operating income reached $679 million with a 13% operating margin.
The company’s production revenues slipped 3% to $3.0 billion, with operating income down 17% to $439 million, reflecting weaker stimulation activity in North America and reduced tool sales in the Middle East. However, gains in Africa and the Western Hemisphere partially offset these declines. Drilling and Evaluation revenues rose 4% to $2.4 billion, supported by project management growth in Latin America and drilling services in Europe, though operating income remained flat at $351 million due to reduced activity in the Middle East.
Regionally, Halliburton’s strongest momentum came from Latin America, where revenues jumped 22% to $1.1 billion, driven by robust activity in Ecuador, Brazil, and Mexico. Europe and Africa also delivered double-digit growth, with revenues up 11% to $858 million, led by Norway and Angola. By contrast, the Middle East and Asia saw revenues fall 13% to $1.3 billion, reflecting disruptions in Saudi Arabia and Qatar. North America revenues declined 4% to $2.1 billion, weighed down by weaker stimulation and artificial lift activity.
Beyond financials, Halliburton highlighted several technology milestones, including the launch of the HyperSteer™ MX drill bit, the opening of a next-generation Energy Xccelerator Lab in Singapore, and new solutions for carbon capture and geothermal well placement. The company also marked an industry-first achievement in Guyana, where it collaborated with ExxonMobil, Sekal, and Noble to deliver fully automated deepwater geological well placement.
Chairman, President, and CEO Jeff Miller said: “I expect that our consistent focus on returns and capital discipline will drive long-term success for Halliburton and its shareholders.”
Halliburton is a US multinational corporation providing products and services to the energy industry.
