In the second quarter (Q2) of 2026, Halliburton posted net income of $534 million, up from $461 million last quarter. This growth was driven by a 5.5% sequential increase in revenue to $5.7 billion, an operating margin of 14%, and adjusted operating income of $683 million.
Chairman and CEO Jeff Miller said one reason for this growth is that demand is rising in every region and is supporting ongoing margin expansion.
Operating cash flow reached $824 million, while free cash flow topped $668 million, enabling about $200 million in share repurchases and a $0.17 per share dividend.
Drilling and evaluation revenue climbed 5% to $2.5 billion, but operating income slipped 4% to $338 million due to seasonal declines.
North American revenue rose 7% to $2.3 billion, driven by recovering US land stimulation, well construction, and increased Gulf of Mexico fluids activity.
International revenue rose 5% to $3.4 billion. Europe and Africa stood out with a 19% surge in the North Sea, Namibia, and Egypt. Latin America added 3% revenue growth from Argentina and Mexico, while the Middle East and Asia saw a 2% decline due to geopolitical conflicts in Kuwait, Iraq, and Qatar.
Driving future growth are multi-year, lump-sum turnkey deals from Aramco for onshore oil re-entry and unconventional gas projects in Saudi Arabia, underscoring its global reach.
The company also won integrated well construction contracts for the GranMorgu deepwater project offshore Suriname and was tapped by Basra Oil Company for field management and engineering services in southern Iraq, further reinforcing its international presence.
Halliburton also acquired Norway-based software firm InformatiQ AS and formed a strategic partnership with Shape Digital.
Lastly, the company launched the Xaminer Deep Testing logging service and Optomized Single-Trip Multi-Zone (OSTMZ) sand control system, providing operators with earlier reservoir insights and more efficient multi-zone completions.
Founded in 1919, Halliburton is one of the world’s leading providers of products and services to the energy industry. The company develops innovative technologies, products, and services that support customers throughout the life cycle of their assets while advancing a more sustainable energy future.
