Halliburton (HAL) Q1 FY2026 earnings: revenue $5.4 billion, down 0.3% on the year

Halliburton Co. (HAL) reported revenue of $5.4 billion for Q1 FY2026, the quarter ended 31 March 2026, down 0.3% on the same quarter a year earlier. Net income was $461 million, up 126.0% on the year, and diluted earnings per share $0.55. The figures are the company's own, from the 10-Q it filed with the SEC on 24 April 2026.

Revenue

$5.4 billion

-0.3% on the year · -4.5% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

12.6%

8.0% a year earlier

Q2 FY2024Q1 FY2026

Net income

$461 million

+126.0% on the year · -21.7% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.55

+129.2% on the year · -21.4% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Net income up on prior-year impairments: Net income attributable to the company was $461 million, or $0.55 per diluted share. The prior-year quarter reported $204 million, or $0.24, after $356 million of impairments and other charges.
Completion revenue and income declined: Revenue was $3.0 billion, down $104 million or 3%, and operating income was $439 million, down $92 million or 17%. Lower North America stimulation and Middle East completion tool and pumping activity drove the decline.
North America revenue declined: North America revenue was $2.1 billion, down 4%. Lower US Land and Gulf of America stimulation, along with US Land artificial lift and Gulf of America fluid services, drove the decline.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	5,402	5,657	5,417	-4.5%	-0.3%
Cost of revenue	4,619	4,727	4,538	-2.3%	+1.8%
Gross profit	783	930	879	-15.8%	-10.9%
Gross margin	14.5%	16.4%	16.2%
Operating income	679	746	431	-9.0%	+57.5%
Operating margin	12.6%	13.2%	8.0%
Interest expense	82.0	86.0	86.0	-4.7%	-4.7%
Pre-tax income	569	635	306	-10.4%	+85.9%
Income tax	105	46.0	103	+128.3%	+1.9%
Effective tax rate	18.5%	7.2%	33.7%
Net income	461	589	204	-21.7%	+126.0%
Net margin	8.5%	10.4%	3.8%
Diluted EPS	$0.55	$0.70	$0.24	-21.4%	+129.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	273	1,165	377	-76.6%	-27.6%
Capital expenditure	192	337	302	-43.0%	-36.4%
Free cash flow	81.0	828	75.0	-90.2%	+8.0%
Free cash flow margin	1.5%	14.6%	1.4%
Cash from investing	-243	-199	-784
Cash from financing	-237	-771	-406
Depreciation and amortisation	295	290	277	+1.7%	+6.5%
Buybacks	100	250	250	-60.0%	-60.0%
Dividends paid	142	143	147	-0.7%	-3.4%
Dividend per share	$0.17	n/a	$0.17		0.0%
Diluted shares, weighted	839m	840m	866m	-0.1%	-3.1%
Shares outstanding at period end	835m	835m	860m	+0.0%	-2.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	10,780	10,461	10,367	+3.0%	+4.0%
Non-controlling interest	45.0	44.0	42.0	+2.3%	+7.1%
Debt	7,160	7,158	7,541	+0.0%	-5.1%
Operating lease liabilities	678	712	769	-4.8%	-11.8%
Finance lease liabilities	n/a	102	n/a
Other liabilities	6,479	6,533	6,460	-0.8%	+0.3%
Total liabilities and equity	25,142	25,010	25,179	+0.5%	-0.1%
Fixed assets	5,182	5,261	5,149	-1.5%	+0.6%
Goodwill	2,992	2,938	2,891	+1.8%	+3.5%
Cash and equivalents	2,003	2,206	1,804	-9.2%	+11.0%
Receivables	5,197	4,942	5,204	+5.2%	-0.1%
Inventory	3,019	2,976	3,044	+1.4%	-0.8%
Other assets	6,749	6,687	7,087	+0.9%	-4.8%
Total assets	25,142	25,010	25,179	+0.5%	-0.1%

Questions

What was Halliburton's revenue in Q1 FY2026?

Halliburton (HAL) reported revenue of $5.4 billion for Q1 FY2026, the quarter ended 31 March 2026, down 0.3% on the same quarter a year earlier.

How much did Halliburton earn in Q1 FY2026?

Net income for Q1 FY2026 was $461 million, up 126.0% on the year, and diluted earnings per share $0.55.

When did Halliburton report Q1 FY2026 results?

Halliburton filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 24 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4,277	4,284	5,074	5,357	5,582	5,677	5,798	5,804	5,739	5,804	5,833	5,697	5,610	5,417	5,510	5,600	5,657	5,402	5,714	5,703
Cost of revenue	3,668	3,699	4,289	4,452	4,544	4,646	4,720	4,686	4,606	4,722	4,710	4,627	4,584	4,538	4,691	4,744	4,727	4,619	4,910	4,863
Gross profit	609	585	785	905	1,038	1,031	1,078	1,118	1,133	1,082	1,123	1,070	1,026	879	819	856	930	783	804	840
Gross margin	14%	14%	15%	17%	19%	18%	19%	19%	20%	19%	19%	19%	18%	16%	15%	15%	16%	14%	14%	15%
Operating income	550	511	374	846	976	977	1,011	1,037	1,058	987	1,032	871	932	431	727	356	746	679	778	624
Operating margin	13%	12%	7%	16%	17%	17%	17%	18%	18%	17%	18%	15%	17%	8%	13%	6%	13%	13%	14%	11%
Interest expense	108	107	101	93.0	74.0	101	102	94.0	98.0	92.0	92.0	85.0	84.0	86.0	92.0	88.0	86.0	82.0	83.0	84.0
Pre-tax income	418	332	231	705	842	829	783	916	835	787	920	734	793	306	611	219	635	569	664	513
Tax rate	-98%	20%	49%	22%	21%	21%	21%	21%	20%	23%	22%	21%	23%	34%	21%	91%	7%	18%	19%	18%
Net income	824	263	109	544	656	651	610	716	661	606	709	571	615	204	472	18.0	589	461	534	417
Net margin	19%	6%	2%	10%	12%	11%	11%	12%	12%	10%	12%	10%	11%	4%	9%	0%	10%	9%	9%	7%
Diluted EPS	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	$0.74	$0.68	$0.80	$0.65	$0.70	$0.24	$0.55	$0.02	$0.70	$0.55	$0.64	$0.50
Operating cash flow	682	-50.0	376	753	1,163	122	1,052	874	1,410	487	1,081	841	1,456	377	896	488	1,165	273	824	368
Capital expenditure	316	189	221	251	350	268	303	409	399	330	347	339	426	302	354	261	337	192	235	266
Free cash flow	366	-239	155	502	813	-146	749	465	1,011	157	734	502	1,030	75.0	542	227	828	81.0	589	102
Buybacks	0.0	0.0	0.0	46.0	204	100	248	198	254	250	250	196	309	250	257	250	250	100	208	250
Dividends paid	40.0	108	109	110	108	145	144	144	143	151	151	150	148	147	145	144	143	142	143	141
Shares outstanding	896m	902m	907m	908m	902m	902m	899m	895m	889m	885m	883m	879m	868m	860m	853m	842m	835m	835m	833m	827m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 24 April 2026: the filing.