Halliburton (HAL) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 21, 2026 astatine 9:53 AM CDT 32 min read

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Tuesday, April 21, 2026 astatine 9 a.m. ET

• Chairman, President, and CEO — Jeffrey Miller

• Executive Vice President and COO — [Name not provided]

• Executive Vice President and CFO — Eric Carre

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Jeffrey Miller: Thank you, David, and bully morning, everyone. Before I get into my thoughts connected the existent marketplace and Halliburton Company’s outlook, fto maine statesman with a fewer highlights from the archetypal quarter. We delivered full institution gross of $5.4 cardinal and operating borderline of 13%. International gross was $3.3 billion, an summation of 3% year-over-year. North America gross was $2.1 billion, a alteration of 4% year-over-year. During the archetypal quarter, we generated $273 cardinal of currency travel from operations, $123 cardinal of escaped currency flow, and repurchased $100 cardinal of our communal stock. Now fto america crook to our marketplace outlook. I judge the concern successful the Middle East volition person meaningful and long-lasting implications for the planetary vigor sector.

Here is what I expect. First, vigor information is nary longer simply a talking point. It demands enactment by each federation to guarantee a reliable proviso of lipid and gas. I expect we volition spot accrued concern successful localized lipid and state developments and urgency to diversify sources of lipid and state for those countries without their ain resources. Second, betterment of lipid and state accumulation and inventories volition not beryllium a speedy oregon elemental process. Cumulative accumulation deficits are successful the respective hundreds of millions of barrels and trending towards a billion. This represents respective years of meaningful incremental request to regenerate strategical reserves connected apical of what I judge volition beryllium continued structural request growth.

Big picture, this means the satellite is fundamentally tighter successful lipid and state than it was sixty days ago. In my view, that supports a durably stronger commodity situation and a acold much constructive backdrop for upstream concern and oilfield services activity. I judge Halliburton Company volition thrive successful this market. We are progressive successful each the large markets that matter, with the close work lines, strategy, and technology. In addition, we are the services person successful North America which, successful my 30 years of experience, has ever been the archetypal marketplace to respond to terms signals. With that, I volition crook the telephone implicit to our COO.

Unknown Speaker: Thanks, Jeff. Before I get into our operational results, I privation to admit our employees astir the world, but particularly successful the Middle East. They are executing nether challenging circumstances, staying focused connected our customers, and are keeping each different safe. Their fortitude and resilience correspond the champion of Halliburton Company. I privation to personally convey them. Now fto america crook to our planetary business, wherever our archetypal 4th gross was $3.3 billion. I volition commencement with the Middle East, wherever we person remained intimately engaged with our clients done disruptions. Activity has been astir impacted successful the region’s offshore markets successful Qatar, UAE, and Saudi Arabia, and the onshore markets successful Iraq and Kuwait.