Halliburton reported third quarter 2026 revenue of $5.7 billion, surpassing the consensus estimate of $5.58 billion. Adjusted EPS of $0.60 also beat analyst expectations of $0.58. Results were characterized by a distinct divergence in geographic performance, where robust international demand and offshore drilling activity successfully mitigated a 5% sequential decline in the North American land market.
Key Highlights
- Drilling and Evaluation revenue rose to $2.61 billion, a 4% sequential increase that significantly outperformed the $2.41 billion analyst estimate.
- Middle East/Asia revenue surged 8% sequentially to $1.4 billion, led by increased service demand in Saudi Arabia and Kuwait.
- North America revenue fell 5% to $2.2 billion, primarily due to reduced pressure pumping and hydraulic fracturing activity in U.S. Land.
- Management provided an early 2027 outlook forecasting mid-single-digit revenue growth and approximately 200 basis points of operating margin expansion to 15%.