Halliburton beats Q1 expectations as international growth offsets pressure in North America and the Middle East
✨ Halliburton reported $5.4 billion in revenue and EPS of $0.55 in Q1 2026, both above market expectations even as operating conditions remained pressured by winter in North America and disruptions in the Middle East. Initial market reaction was positive, with the stock gaining more than 4% after the report.
🌍 The highlight this quarter was that the international business continued to act as the main support, with strong growth in Latin America and continued expansion in Europe/Africa helping offset weakness in North America. On the other hand, Completion & Production remained under pressure due to slower stimulation activity and weaker demand for some services.
⚠️ Management said the Middle East conflict reduced part of Q1 profit, and this risk is still likely to carry into Q2. Even so, the company maintained a fairly constructive tone, expecting Q2 to come in above Q1 and the second half of the year to be stronger than the first half.
📈 Overall, this report shows that Halliburton is still maintaining control in a service oilfield environment that remains highly volatile. The next focus will be the pace of North America’s recovery and whether the international business can continue to lead growth.