Halliburton's first-quarter 2026 results indicate early signs of a recovery in North America, even as geopolitical disruptions impacted Middle East activity. The company reported revenue of $5.4 billion and net income of $461 million, with overall revenue remaining flat year-over-year.

North America Recovery

Chairman, President and CEO Jeff Miller noted clear signs of an early recovery in North America. While North America revenue declined 4% year-over-year due to lower stimulation and artificial lift activity, this was partially offset by increased drilling-related services. The outlook suggests a potential shift after a period of subdued activity in U.S. shale.

International Growth

Internationally, Halliburton reported stronger performance, with revenue rising 3% year-over-year. Growth was led by gains in Latin America and Europe/Africa, particularly in Brazil, Argentina, Norway and Angola, where drilling and completion services supported expansion. Miller noted that international operations "outpaced disruptions from the Middle East conflict," where activity declines in Saudi Arabia and Qatar weighed on results. The company estimated the regional conflict reduced earnings by approximately $0.02 to $0.03 per share.

Segment Performance

Segment performance reflected a mixed upstream environment. Drilling and Evaluation revenue increased 4%, driven by higher project activity. In contrast, Completion and Production revenue declined 3% due to weaker North America stimulation and Middle East pressure pumping.

Technology Deployment

Halliburton highlighted continued technology deployment, including advancements in directional drilling, digital well construction and automated well placement. These innovations underscore ongoing efficiency gains in both conventional and offshore developments. Miller emphasized that a consistent focus on returns and capital discipline will drive long-term success.