Halliburton Company Q3 2026 Earnings Recap

Halliburton’s shares rose 1.8% after results, a relatively muted reaction. Revenue exceeded management’s expectations, while North America revenue declined 9% year over year; the company forecast mid-single-digit revenue growth and about 200 basis points of operating-margin expansion in 2027.

Key Takeaways

• Third-quarter revenue was $5.7 billion, with an adjusted operating margin of 12.8%.
• International revenue increased 3% year over year to $3.5 billion; North America revenue fell 9% to $2.2 billion.
• D&E revenue significantly outperformed expectations, and its operating margin improved 150 basis points sequentially.
• Management expects 2026 year-over-year growth of about 12% in international regions outside the Middle East; it expects Middle East revenue to grow sequentially and year over year in the fourth quarter.
• The 2027 outlook is mid-single-digit revenue growth and operating margins of about 15%; management said this does not require a recovery in North America hydraulic fracturing.