1 Exhibit 99.1 HALLIBURTON ANNOUNCES THIRD QUARTER 2026 RESULTS • Net income of
1 Exhibit 99.1 HALLIBURTON ANNOUNCES THIRD QUARTER 2026 RESULTS • Net income of $0.50 per diluted share and adjusted net income per diluted share 1 of $0.60 . • Revenue of $5.7 billion , operating margin of 10.9% , and a djusted operating margin 2 of 12.8% . • Cash flow from operations of $368 million and free cash flow 3 of $156 million . • Approximately $250 million of share repurchases. HOUSTON – October 20, 2026 – Halliburton Company (NYSE: HAL) announced today net income attributable to company of $417 million , or $0.50 per diluted share, for the third quarter of 2026 and adjusted net income attributable to company 4 , excluding i mpairments and other charges and tax adjustments , of $501 million , or $0.60 per diluted share. This compares to net income attributable to company for the second quarter of 2026 of $534 million , or $0.64 per diluted share, and adjusted net income attributable to company , excluding impairments and other credits and tax adjustments, of $461 million , or $0.55 per diluted share. Adjusted EBITDA 5 , which excludes impairments and other charges, was $1.0 billion in the third quarter of 2026 , compared to adjusted EBITDA of $948 million in the second quarter of 2026. Halliburton’s total revenue for the third quarter of 2026 was $5.7 billion , flat when compared to total revenue in the second quarter of 2026 . Operating income was $624 million in the third quarter of 2026 , compared to operating income of $778 million in the second quarter of 2026 . A djusted operating income 6 in the third quarter of 2026 , excluding impairments and other charges, was $731 million , compared to adjusted operating income of $683 million in the second quarter of 2026 . “I am pleased with Halliburton’s third quarter results. Our revenue exceeded our expectations, and we took important steps towards improving our margins.” commented Jeff Miller, Chairman, President and CEO. “We are another three months into one of the largest energy disruptions in history. I expect the work to restore production, rebuild inventories and strengthen energy security will drive multi-year demand growth for oilfield services, “Based on our early outlook for 2027, I expect mid-single digit revenue growth and operating margins of about 15%, an approximately 200 basis point improvement. This outlook assumes a flat North America market and does not require any recovery in North America hydraulic fracturing. To us, that recovery is purely upside,” concluded Miller. 2 Operating Segments Completion and Production Completion and Production revenue in the third quarter of 2026 was $3.1 billion , a decrease of $113 million , or 4% sequentially, while operating income was $457 million , a decrease of $17 million , or 4% sequentially . These decreases were primarily driven by lower stimulation activity in the Western Hemisphere and were partially offset by increased activity across multiple product service lines in the Middle East. Drilling and Evaluation Drilling and Evaluation revenue in the third quarter of 2026 was $2.6 billion , an increase of $102 million , or 4% sequentially, while operating income was $391 million , an increase of $53 million , or 16% sequentially . These increases were primarily driven by improved activity across multiple product service lines in the Middle East and Latin America , and increased drilling related services in the Western Hemisphere. Partially offsetting these increases was lower testing services i nternationally. Geographic Regions North America North America revenue in the third quarter of 2026 was $2.2 billion , a decrease of 5% sequentially . This decrease was primarily driven by lower pressure pumping services in U.S. Land. International International revenue in the third quarter of 2026 was $3.5 billion , an increase of 3% sequentially. Latin America revenue in the third quarter of 2026 was $1.1 billion , flat sequentially . These results were primarily driven by decreased stimulation activity in Argentina, offset by increased activity across multiple product service lines in Mexico. Europe/Africa revenue in the third quarter of 2026 was $1.0 billion , flat sequentially . These results were primarily driven by decreased well construction activity in Namibia, offset by increased activity across multiple product service lines in Nigeria. Middle East/Asia revenue in the third quarter of 2026 was $1.4 billion , an increase of 8% sequentially . These results were primarily driven by higher activity across multiple product service lines in Saudi Arabia and Kuwait. 3 Other Financial Items During the third quarter of 2026 , Halliburton: • Repurchased approximately $250 million of its common stock. • Paid dividends of $0.17 per share. • Spent $42 million on SAP S4 migration. • Recognized a pre-tax charge of $107 million related to impairments and other charges. Selective Technology & Highlights • Halliburton announced it secured an integrated well construction and completions contract from Eni for the Cronos ultra-deepwater development in Block 6 of the Cyprus Exclusive Economic Zone. The award strengthens Halliburton’s offshore portfolio in the Eastern Mediterranean and expands the company’s role in the region’s strategic natural gas development. Under the contract, Halliburton will deliver integrated drilling, well construction, automation, and completions services for exploration and development wells. The bundled scope reduces operational interfaces, improves execution certainty, and supports efficient delivery for a multi- year ultra-deepwater development. • Halliburton announced it received an integrated contract by bp for the first appraisal campaign in the Bumerangue field, offshore deepwater Brazil. The award includes a comprehensive suite of services to fast-track the appraisal campaign for bp’s discovery. The contract includes an integrated package of drilling services to optimize reservoir evaluation and improve operational efficiency. The scope draws on Halliburton’s drilling and evaluation portfolio to deliver an integrated execution model for the drilling appraisal program. Halliburton reduces operational complexity through consolidation of multiple services. LOGIX™ automation and remote operations will be deployed to improve execution efficiency and consistency. • Halliburton announced the signing of memorandums of understanding with Eneva and WESCA to support energy development opportunities in Venezuela and help customers advance projects in the country's oil and gas sector. With nearly nine decades of experience in Venezuela, Halliburton helps customers advance projects through strategically located bases in the country and by established operational capabilities and local expertise. Halliburton and Eneva, one of Brazil’s leading integrated energy companies and the country’s largest private natural gas operator, will collaborate to identify and pursue development opportunities in Venezuela. The agreement builds on the companies' existing relationship in Brazil. • Halliburton announced the successful deployment of LOGIX™ automation and remote operations on a deepwater exploration well with Eni offshore Indonesia. The operation marks a series of industry and regional firsts that advance closed loop drilling automation and demonstrate performance at scale in complex offshore environments.
• Halliburton has entered into a multiyear agreement with Pampa Energía to support the digital transformation of its unconventional operations in Vaca Muerta, one of the world’s most significant shale plays. As regional development accelerates, the agreement supports Pampa Energía’s strategy to scale efficiently, strengthen decision-making, and deliver consistent execution within subsurface and operations teams. • Halliburton was awarded a multiyear agreement by Kuwait Oil Company (KOC) to support the development of the Ahmadi Innovation Valley, a flagship initiative that advances Kuwait’s energy sector transformation. The research and development center will support KOC to deliver solutions in brownfield, greenfield, and unconventional fields, address higher operational complexity, and build technology designed for Kuwait’s upstream challenges. The center embeds applied research as a permanent capability from concept through prototyping, piloting, and commercialization. • Halliburton Labs announced the addition of three companies to its collaborative ecosystem: Electroflow, Osmoses, and SiTration. The selected ventures develop breakthrough technologies that address critical challenges in battery materials, resource recovery, and gas separations. These companies confront the material and process bottlenecks that stand between today’s energy system and tomorrow's opportunities. Halliburton Labs collaborates with early-stage, hard-tech ventures to scale innovative technologies through industry expertise, world- class facilities, and a global network of industrial and investment partners.
Adjusted net income per diluted share is a non-GAAP financial measure which is calculated as:“Adjusted netincomeattributable to company” divided by “Diluted weighted average commonshares outstanding.” (1) Management believes adjusted net income per diluted share is useful toinvestors to assess and understand operating performance. See Reconciliation of Net IncomeAttributable to Company to Adjusted Net Income Attributable to Company in Footnote Table 2. Adjusted operating margin is a non-GAAP financial measure which is calculated by dividing“Adjusted operating income” by “Total revenue.” (2) Management believes adjusted operating marginis useful to investors to assess and understand operating performance. See Reconciliation ofOperating Income to Adjusted Operating Income in Footnote Table 1. Free cash flow is a non-GAAP financial measure which is calculated as “Total cash flowsprovided by operating activities” less “Capital expenditures” plus “Proceeds from sales ofproperty, plant, and (3) equipment.” Management believes that free cash flow is a key measure toassess liquidity of the business and is consistent with the disclosures of Halliburton's direct, large-cap competitors. See Reconciliation of Cash Flows from Operating Activities to Free Cash Flow inFootnote Table 3. Adjusted net income attributable to company is a non-GAAP financial measure which iscalculated as: “Netincomeattributable to company” plus “Total adjustments, net of taxes” for therespective periods. Management believes adjusted net income is useful to investors to assessand understand operating performance, especially when comparing those results with previousand subsequent periods or forecasting performance (4) for future periods, primarily becausemanagement views the excluded items to be outside of the company's normal operating results.Management analyzes netincomewithout the impact of these items as an indicator ofperformance to identify underlying trends in the business and to establish operational goals. Totaladjustments remove the effect of these items. See Reconciliation of Net Income Attributable toCompany to Adjusted Net Income Attributable to Company in Footnote Table 2.
Adjusted EBITDA is a non-GAAP financial measure which is calculated as: “Net income,” before“Interest expense, net,” “Income tax provision,” “Depreciation, depletion, and amortization,” andexcludes “Impairments (5) and other charges (credits).” Management believes Adjusted EBITDA is akey measure to assess and understand operating performance and is consistent with thedisclosures of Halliburton’s direct, large-cap competitors. See EBITDA, Adjusted EBITDA,Related Margins, and Reconciliations schedule. Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operatingincome” plus “Total impairments and other charges (credits)” for the respective periods.Management believes that operating income adjusted for impairments and other charges (credits)is useful to investors to assess and understand operating performance, especially whencomparing those results with previous and subsequent (6) periods or forecasting performance forfuture periods, primarily because management views the excluded items to be outside of thecompany's normal operating results. Management analyzes operating income without the impactof these items as an indicator of performance, to identify underlying trends in the business, and toestablish operational goals. The adjustments remove the effect of these items. See Reconciliationof Operating Income to Adjusted Operating Income in Footnote Table 1.
About Halliburton Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook.
6 Forward-looking Statements The statements in this press release that are not historical statements are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: changes in the demand for or price of oil and/or natural gas, including as a result of development of alternative energy sources, general economic conditions such as inflation and recession, the ability of the OPEC+ countries to agree on and comply with production quotas, and other causes; changes in capital spending by our customers; the modification, continuation or suspension of our shareholder return framework, including the payment of dividends and purchases of our stock, which will be subject to the discretion of our Board of Directors and may depend on a variety of factors, including our results of operations and financial condition, growth plans, capital requirements and other conditions existing when any payment or purchase decision is made; potential catastrophic events related to our operations, and related indemnification and insurance; protection of intellectual property rights; cyber-attacks and data security; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to oil and natural gas exploration, the environment, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; assumptions regarding the generation of future taxable income, and compliance with laws related to and disputes with taxing authorities regarding income taxes; risks of international operations, including risks relating to unsettled political conditions, war, including the current conflict in Iran , the effects of terrorism, foreign exchange rates and controls, international trade and regulatory controls, tariffs, and sanctions, and doing business with national oil companies; weather-related issues, including the effects of hurricanes and tropical storms; delays or failures by customers to make payments owed to us; infrastructure issues in the oil and natural gas industry; availability and cost of highly skilled labor and raw materials; completion of potential dispositions, and acquisitions, and integration and succe ss of acquired businesses and joint ventures; risks related to the deployment of artificial intelligence. Halliburton's most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q , Current Reports on Form 8-K and other filings with, or furnished to, the Securities and Exchange Commission discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.
HALLIBURTON COMPANY Condensed Consolidated Statements of Operations (Millions of dollars and shares except per share data) (Unaudited)
See Footnote Table 1 for details of the impairments and other (charges) credits recorded during thethree and nine monthsendedSeptember 30, 2026and2025, and thethree months endedJune 30, 2026. During the three and nine months endedSeptember 30, 2025, Halliburton incurred a charge of $23 million due (a) to theimpairment of an investment in (b) Argentina. ────────────────────────────────────────────────────────────────────────────── During thethree and nine months endedSeptember 30, 2026and the three months ended June 30, 2026, the income taxprovision includes the tax effect on impairments and other (charges) credits. The income tax provision during the three andnine months ended (c) September 30, 2025 includes a $125 million tax expense associated with a valuation allowance recordedagainst our United States foreign tax credits, as well as the tax effect on impairments and other charges and the impairmentof an investment in Argentina. See Footnote Table 1 forReconciliation of Operating Income to Adjusted Operating Income. See Footnote Table 2 forReconciliation of Net Income Attributable to Company to Adjusted Net Income Attributable to Company.
September 30, December 31, 2026 2025 Assets Current assets: Cash and equivalents $1,843 $2,206 Receivables, net 5,515 4,942 Inventories 3,265 2,976 Other current assets 1,517 1,274 Total current assets 12,140 11,398 Property, plant, and equipment, net 5,152 5,261 Goodwill 3,021 2,938 Deferred income taxes 2,377 2,298 Operating lease right-of-use assets 1,018 938 Other assets 2,365 2,177 Total assets $26,073 $25,010 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $3,535 $3,133 Accrued employee compensation and 788 767 benefits Current portion of operating lease 276 263 liabilities Current maturities of long-term debt 90 — Other current liabilities 1,323 1,425 Total current liabilities 6,012 5,588 Long-term debt 7,072 7,158 Operating lease liabilities 760 712 Employee compensation and benefits 431 428 Other liabilities 637 619 Total liabilities 14,912 14,505 Company shareholders’ equity 11,118 10,461 Noncontrolling interest in consolidated 43 44 subsidiaries Total shareholders’ equity 11,161 10,505 Total liabilities and shareholders’ $26,073 $25,010 equity
HALLIBURTON COMPANY Condensed Consolidated Statements of Cash Flows (Millions of dollars) (Unaudited)
Nine Months Ended Three MonthsEnded September 30, September 30, 2026 2025 2026 Cash flows from operating activities: Net income $1,421 $703 $419 Adjustments to reconcile net income to cash flows fromoperating activities: Depreciation, depletion, and 887 846 296 amortization Impairments and other charges 12 748 107 Working capital (a) -517 -111 -330 Other operating activities -338 -425 -124 Total cash flows provided by 1,465 1,761 368 operating activities Cash flows from investing activities: Capital expenditures -693 -917 -266 Purchases of investment -111 -128 -18 securities Payments to acquire businesses -107 -175 — Purchases of equity -101 -343 — investments Proceeds from sales of property, plant, and 175 138 54 equipment Sales of investment securities 65 228 16 Sale of an equity investment 50 120 50 Other investing activities -48 -49 20 Total cash flows used in -770 -1,126 -144 investing activities Cash flows from financing activities: Stock repurchase program -558 -757 -250 Dividends to shareholders -426 -436 -141 Other financing activities -52 -23 -26 Total cash flows used in -1,036 -1,216 -417 financing activities Effect of exchange rate -22 -11 -12 changes on cash Decrease in cash and -363 -592 -205 equivalents Cash and equivalents at 2,206 2,618 2,048 beginning of period Cash and equivalents at end of $1,843 $2,026 $1,843 period
(a) Working capital includes receivables, inventories, and accounts payable. See Footnote Table 3 forReconciliation of Cash Flows from Operating Activities to Free Cash Flow.
HALLIBURTON COMPANY EBITDA, Adjusted EBITDA, Related Margins, and Reconciliations (Millions of dollars) (Unaudited)
EBITDA and EBITDA margin are non-GAAP financial measures. EBITDA is calculated as “Net income” before “Interestexpense, net,” “Income tax provision” and “Depreciation, depletion, and amortization” for the respective periods. EBITDAmargin is calculated as “EBITDA” divided by “Total revenue.” Management believes EBITDA and EBITDA margin are keymeasures to assess and understand operating performance and are consistent with the disclosures of Halliburton’s direct,large-cap competitors. For thethree and nine months endedSeptember 30, 2025, adjusted EBITDA excludes a $23 million impairment on aninvestment in Argentina. (a) See Footnote Table 1 for details of the impairments and other charges (b) (credits) recorded during thethree and nine monthsendedSeptember 30, (c) 2026and2025, and thethree months endedJune 30, 2026. ────────────────────────────────────────────────────────────────────────────── Adjusted EBITDA margin is a non-GAAP financial measure which is calculated as: “Adjusted EBITDA” divided by “Totalrevenue.” Management (d) believes Adjusted EBITDA margin is a key measure to assess and understand operating performanceand is consistent with disclosures of Halliburton's direct, large-cap competitors.
HALLIBURTON COMPANY Selected Operating Segment Results and Reconciliation of Segment Operating Income to Segment EBITDA and EBITDA Margin (Millions of dollars) (Unaudited)
Segment EBITDA and Segment EBITDA margin are non-GAAP financial measures. Segment EBITDA is calculated as segment“Operating income” plus “Depreciation, depletion, and amortization” for the respective (a) periods. Segment EBITDA margin is calculated as“Segment EBITDA” divided by segment “Revenue”. Management believes Segment EBITDA and Segment EBITDA margin are keymeasures to assess and understand segment operating performance and are consistent with the disclosures of Halliburton’s direct,large-cap competitors.
HALLIBURTON COMPANY Revenue Comparison by Geographic Region (Millions of dollars) (Unaudited)
FOOTNOTE TABLE 1 HALLIBURTON COMPANY Reconciliation of Operating Income to Adjusted Operating Income (Millions of dollars) (Unaudited)
During thethree months endedSeptember 30, 2026, Halliburton recognized a pre-tax charge of$107 millionprimarily relatedto$107 millionof severance costs associated with the rationalization of our global headcount, and$25 millionof inventorycosts and write-downs, partially offset by a$36 milliongain resulting from the sale of a portion of our shares in an equityinvestment.During thethree months endedJune 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily (a) due to a $54million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from remeasuringan equity investment to fair value. Other credits of $48 million were primarily due to a government refund recovery. Thesegains were partially offset by a $17 million loss on the sale of a portion of our chemical business, which closed in April 2026.During thethree months endedSeptember 30, 2025, Halliburton recognized a pre-tax charge of $392 million as a result ofseverance costs, fixed and other assets write-offs, an impairment of assets held for sale, and other items. During the nine months ended September 30, 2026, Halliburton recognized a pre-tax charge of $12 million primarily related to$107 million of severance costs associated with the rationalization of our global headcount, partially offset by a $102 milliongain primarily related to a $54 million gain resulting from changes in our ownership interest in (b) an equity investment and a$36milliongain resulting from the sale of a portion of our shares in an equity investment.During the nine months ended September 30, 2025, Halliburton recognized a pre-tax charge of $748 million as a result ofseverance costs, an impairment of assets held for sale, an impairment on real estate facilities, and other items, primarilyrelated to legacy environmental remediation cost estimate increases.
FOOTNOTE TABLE 2 HALLIBURTON COMPANY Reconciliation of Net Income Attributable to Company to Adjusted Net Income Attributable to Company (Millions of dollars and shares except per share data) (Unaudited)
Three Months Nine Months Ended Ended September 30, June 30, September 30, 2026 2025 2026 2026 2025 Net income attributable $417 $18 $534 $1,412 $694 to company Adjustments: Impairments and other charges 107 392 -95 12 748 (credits) (a) Other, net (b) — 23 — — 23 Total adjustments, 107 415 -95 12 771 before taxes Tax valuation — 125 — — 125 allowance (c) Tax adjustment -23 -62 22 -1 -105 (c) Total adjustments, 84 478 -73 11 791 net of taxes Adjusted net income attributable $501 $496 $461 $1,423 $1,485 to company Diluted weighted 832 850 838 836 858 average common sharesoutstan… Net income per $0.50 $0.02 $0.64 $1.69 $0.81 diluted share Adjusted net income per $0.60 $0.58 $0.55 $1.70 $1.73 diluted share
See Footnote Table 1 for details of the impairments and other charges (credits) recorded during thethree and nine monthsendedSeptember 30, 2026and2025, and thethree months endedJune 30, 2026. During thethree and nine months endedSeptember 30, 2025, Halliburton (a) incurred a charge of $23 million due to theimpairment of an investment (b) in Argentina. ────────────────────────────────────────────────────────────────────────────── During thethree and nine months endedSeptember 30, 2026and the three months ended June 30, 2026, the adjustmentincludes the tax effect on impairments and other charges (credits). During the three and nine months endedSeptember 30,2025, the adjustments in the table above (c) include a $125 million tax expense associated with a valuation allowance recordedagainst our deferred tax assets, which resulted from the impact on the realizability of our United States foreign tax credits dueto the “One Big Beautiful Bill Act” (OBBBA), as well as the tax effect on impairments and other charges and the impairment ofan investment in Argentina.
FOOTNOTE TABLE 3 HALLIBURTON COMPANY Reconciliation of Cash Flows from Operating Activities to Free Cash Flow (Millions of dollars) (Unaudited)
Nine Months Ended Three Months Ended September 30, September 30, 2026 2025 2026 Total cash flows provided by $1,465 $1,761 $368 operating activities Capital expenditures -693 -917 -266 Proceeds from sales of property, plant, and 175 138 54 equipment Free cash flow $947 $982 $156
16 Conference Call Details Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, October 20, 2026 , to discuss its third quarter 2026 financial results. The call will begin at 8:00 a.m. CT ( 9:00 a.m. ET). Please visit the Halliburton website to listen to the call via live webcast. A recorded version will be available for seven days under the same link immediately following the conclusion of the conference call. You can also pre-register for the conference call and obtain your dial in number and passcode by clicking here . CONTACTS Investor Relations David Coleman Investors@Halliburton.com 281-871-2688 Media Relations Alexandra Franceschi PR@Halliburton.com 281-871-2601
Full text with the tables
1 Exhibit 99.1 HALLIBURTON ANNOUNCES THIRD QUARTER 2026 RESULTS • Net income of
$0.50 per diluted share and adjusted net income per diluted share 1 of $0.60 . •
Revenue of $5.7 billion , operating margin of 10.9% , and a djusted operating
margin 2 of 12.8% . • Cash flow from operations of $368 million and free cash
flow 3 of $156 million . • Approximately $250 million of share repurchases.
HOUSTON – October 20, 2026 – Halliburton Company (NYSE: HAL) announced today net
income attributable to company of $417 million , or $0.50 per diluted share, for
the third quarter of 2026 and adjusted net income attributable to company 4 ,
excluding i mpairments and other charges and tax adjustments , of $501 million ,
or $0.60 per diluted share. This compares to net income attributable to company
for the second quarter of 2026 of $534 million , or $0.64 per diluted share, and
adjusted net income attributable to company , excluding impairments and other
credits and tax adjustments, of $461 million , or $0.55 per diluted share.
Adjusted EBITDA 5 , which excludes impairments and other charges, was $1.0
billion in the third quarter of 2026 , compared to adjusted EBITDA of $948
million in the second quarter of 2026. Halliburton’s total revenue for the third
quarter of 2026 was $5.7 billion , flat when compared to total revenue in the
second quarter of 2026 . Operating income was $624 million in the third quarter
of 2026 , compared to operating income of $778 million in the second quarter of
2026 . A djusted operating income 6 in the third quarter of 2026 , excluding
impairments and other charges, was $731 million , compared to adjusted operating
income of $683 million in the second quarter of 2026 . “I am pleased with
Halliburton’s third quarter results. Our revenue exceeded our expectations, and
we took important steps towards improving our margins.” commented Jeff Miller,
Chairman, President and CEO. “We are another three months into one of the
largest energy disruptions in history. I expect the work to restore production,
rebuild inventories and strengthen energy security will drive multi-year demand
growth for oilfield services, “Based on our early outlook for 2027, I expect
mid-single digit revenue growth and operating margins of about 15%, an
approximately 200 basis point improvement. This outlook assumes a flat North
America market and does not require any recovery in North America hydraulic
fracturing. To us, that recovery is purely upside,” concluded Miller. 2
Operating Segments Completion and Production Completion and Production revenue
in the third quarter of 2026 was $3.1 billion , a decrease of $113 million , or
4% sequentially, while operating income was $457 million , a decrease of $17
million , or 4% sequentially . These decreases were primarily driven by lower
stimulation activity in the Western Hemisphere and were partially offset by
increased activity across multiple product service lines in the Middle East.
Drilling and Evaluation Drilling and Evaluation revenue in the third quarter of
2026 was $2.6 billion , an increase of $102 million , or 4% sequentially, while
operating income was $391 million , an increase of $53 million , or 16%
sequentially . These increases were primarily driven by improved activity across
multiple product service lines in the Middle East and Latin America , and
increased drilling related services in the Western Hemisphere. Partially
offsetting these increases was lower testing services i nternationally.
Geographic Regions North America North America revenue in the third quarter of
2026 was $2.2 billion , a decrease of 5% sequentially . This decrease was
primarily driven by lower pressure pumping services in U.S. Land. International
International revenue in the third quarter of 2026 was $3.5 billion , an
increase of 3% sequentially. Latin America revenue in the third quarter of 2026
was $1.1 billion , flat sequentially . These results were primarily driven by
decreased stimulation activity in Argentina, offset by increased activity across
multiple product service lines in Mexico. Europe/Africa revenue in the third
quarter of 2026 was $1.0 billion , flat sequentially . These results were
primarily driven by decreased well construction activity in Namibia, offset by
increased activity across multiple product service lines in Nigeria. Middle
East/Asia revenue in the third quarter of 2026 was $1.4 billion , an increase of
8% sequentially . These results were primarily driven by higher activity across
multiple product service lines in Saudi Arabia and Kuwait. 3 Other Financial
Items During the third quarter of 2026 , Halliburton: • Repurchased
approximately $250 million of its common stock. • Paid dividends of $0.17 per
share. • Spent $42 million on SAP S4 migration. • Recognized a pre-tax charge of
$107 million related to impairments and other charges. Selective Technology &
Highlights • Halliburton announced it secured an integrated well construction
and completions contract from Eni for the Cronos ultra-deepwater development in
Block 6 of the Cyprus Exclusive Economic Zone. The award strengthens
Halliburton’s offshore portfolio in the Eastern Mediterranean and expands the
company’s role in the region’s strategic natural gas development. Under the
contract, Halliburton will deliver integrated drilling, well construction,
automation, and completions services for exploration and development wells. The
bundled scope reduces operational interfaces, improves execution certainty, and
supports efficient delivery for a multi- year ultra-deepwater development. •
Halliburton announced it received an integrated contract by bp for the first
appraisal campaign in the Bumerangue field, offshore deepwater Brazil. The award
includes a comprehensive suite of services to fast-track the appraisal campaign
for bp’s discovery. The contract includes an integrated package of drilling
services to optimize reservoir evaluation and improve operational efficiency.
The scope draws on Halliburton’s drilling and evaluation portfolio to deliver an
integrated execution model for the drilling appraisal program. Halliburton
reduces operational complexity through consolidation of multiple services.
LOGIX™ automation and remote operations will be deployed to improve execution
efficiency and consistency. • Halliburton announced the signing of memorandums
of understanding with Eneva and WESCA to support energy development
opportunities in Venezuela and help customers advance projects in the country's
oil and gas sector. With nearly nine decades of experience in Venezuela,
Halliburton helps customers advance projects through strategically located bases
in the country and by established operational capabilities and local expertise.
Halliburton and Eneva, one of Brazil’s leading integrated energy companies and
the country’s largest private natural gas operator, will collaborate to identify
and pursue development opportunities in Venezuela. The agreement builds on the
companies' existing relationship in Brazil. • Halliburton announced the
successful deployment of LOGIX™ automation and remote operations on a deepwater
exploration well with Eni offshore Indonesia. The operation marks a series of
industry and regional firsts that advance closed loop drilling automation and
demonstrate performance at scale in complex offshore environments.
4
• Halliburton has entered into a multiyear agreement with Pampa Energía to
support the digital transformation of its unconventional operations in Vaca
Muerta, one of the world’s most significant shale plays. As regional development
accelerates, the agreement supports Pampa Energía’s strategy to scale
efficiently, strengthen decision-making, and deliver consistent execution within
subsurface and operations teams. • Halliburton was awarded a multiyear agreement
by Kuwait Oil Company (KOC) to support the development of the Ahmadi Innovation
Valley, a flagship initiative that advances Kuwait’s energy sector
transformation. The research and development center will support KOC to deliver
solutions in brownfield, greenfield, and unconventional fields, address higher
operational complexity, and build technology designed for Kuwait’s upstream
challenges. The center embeds applied research as a permanent capability from
concept through prototyping, piloting, and commercialization. • Halliburton Labs
announced the addition of three companies to its collaborative ecosystem:
Electroflow, Osmoses, and SiTration. The selected ventures develop breakthrough
technologies that address critical challenges in battery materials, resource
recovery, and gas separations. These companies confront the material and process
bottlenecks that stand between today’s energy system and tomorrow's
opportunities. Halliburton Labs collaborates with early-stage, hard-tech
ventures to scale innovative technologies through industry expertise, world-
class facilities, and a global network of industrial and investment partners.
Adjusted net income per diluted share is a non-GAAP financial measure
which is calculated as:“Adjusted netincomeattributable to company”
divided by “Diluted weighted average commonshares outstanding.”
(1) Management believes adjusted net income per diluted share is useful
toinvestors to assess and understand operating performance. See
Reconciliation of Net IncomeAttributable to Company to Adjusted Net
Income Attributable to Company in Footnote Table 2.
Adjusted operating margin is a non-GAAP financial measure which is
calculated by dividing“Adjusted operating income” by “Total revenue.”
(2) Management believes adjusted operating marginis useful to investors to
assess and understand operating performance. See Reconciliation
ofOperating Income to Adjusted Operating Income in Footnote Table 1.
Free cash flow is a non-GAAP financial measure which is calculated as
“Total cash flowsprovided by operating activities” less “Capital
expenditures” plus “Proceeds from sales ofproperty, plant, and
(3) equipment.” Management believes that free cash flow is a key measure
toassess liquidity of the business and is consistent with the
disclosures of Halliburton's direct, large-cap competitors. See
Reconciliation of Cash Flows from Operating Activities to Free Cash
Flow inFootnote Table 3.
Adjusted net income attributable to company is a non-GAAP financial
measure which iscalculated as: “Netincomeattributable to company” plus
“Total adjustments, net of taxes” for therespective periods. Management
believes adjusted net income is useful to investors to assessand
understand operating performance, especially when comparing those
results with previousand subsequent periods or forecasting performance
(4) for future periods, primarily becausemanagement views the excluded
items to be outside of the company's normal operating
results.Management analyzes netincomewithout the impact of these items
as an indicator ofperformance to identify underlying trends in the
business and to establish operational goals. Totaladjustments remove
the effect of these items. See Reconciliation of Net Income
Attributable toCompany to Adjusted Net Income Attributable to Company
in Footnote Table 2.
5
Adjusted EBITDA is a non-GAAP financial measure which is calculated as:
“Net income,” before“Interest expense, net,” “Income tax provision,”
“Depreciation, depletion, and amortization,” andexcludes “Impairments
(5) and other charges (credits).” Management believes Adjusted EBITDA is
akey measure to assess and understand operating performance and is
consistent with thedisclosures of Halliburton’s direct, large-cap
competitors. See EBITDA, Adjusted EBITDA,Related Margins, and
Reconciliations schedule.
Adjusted operating income is a non-GAAP financial measure which is
calculated as: “Operatingincome” plus “Total impairments and other
charges (credits)” for the respective periods.Management believes that
operating income adjusted for impairments and other charges (credits)is
useful to investors to assess and understand operating performance,
especially whencomparing those results with previous and subsequent
(6) periods or forecasting performance forfuture periods, primarily because
management views the excluded items to be outside of thecompany's
normal operating results. Management analyzes operating income without
the impactof these items as an indicator of performance, to identify
underlying trends in the business, and toestablish operational goals.
The adjustments remove the effect of these items. See Reconciliationof
Operating Income to Adjusted Operating Income in Footnote Table 1.
About Halliburton Halliburton is one of the world’s leading providers of
products and services to the energy industry. Founded in 1919, we create
innovative technologies, products, and services that help our customers maximize
their value throughout the life cycle of an asset and advance a sustainable
energy future. Visit us at www.halliburton.com; connect with us on LinkedIn,
YouTube, Instagram, and Facebook.
6 Forward-looking Statements The statements in this press release that are not
historical statements are forward-looking statements within the meaning of the
federal securities laws. These statements are subject to numerous risks and
uncertainties, many of which are beyond the company's control, which could cause
actual results to differ materially from the results expressed or implied by the
statements. These risks and uncertainties include, but are not limited to:
changes in the demand for or price of oil and/or natural gas, including as a
result of development of alternative energy sources, general economic conditions
such as inflation and recession, the ability of the OPEC+ countries to agree on
and comply with production quotas, and other causes; changes in capital spending
by our customers; the modification, continuation or suspension of our
shareholder return framework, including the payment of dividends and purchases
of our stock, which will be subject to the discretion of our Board of Directors
and may depend on a variety of factors, including our results of operations and
financial condition, growth plans, capital requirements and other conditions
existing when any payment or purchase decision is made; potential catastrophic
events related to our operations, and related indemnification and insurance;
protection of intellectual property rights; cyber-attacks and data security;
compliance with environmental laws; changes in government regulations and
regulatory requirements, particularly those related to oil and natural gas
exploration, the environment, radioactive sources, explosives, chemicals,
hydraulic fracturing services, and climate-related initiatives; assumptions
regarding the generation of future taxable income, and compliance with laws
related to and disputes with taxing authorities regarding income taxes; risks of
international operations, including risks relating to unsettled political
conditions, war, including the current conflict in Iran , the effects of
terrorism, foreign exchange rates and controls, international trade and
regulatory controls, tariffs, and sanctions, and doing business with national
oil companies; weather-related issues, including the effects of hurricanes and
tropical storms; delays or failures by customers to make payments owed to us;
infrastructure issues in the oil and natural gas industry; availability and cost
of highly skilled labor and raw materials; completion of potential dispositions,
and acquisitions, and integration and succe ss of acquired businesses and joint
ventures; risks related to the deployment of artificial intelligence.
Halliburton's most recent Annual Report on Form 10-K, subsequent Quarterly
Reports on Form 10-Q , Current Reports on Form 8-K and other filings with, or
furnished to, the Securities and Exchange Commission discuss some of the
important risk factors identified that may affect Halliburton's business,
results of operations, and financial condition. Halliburton undertakes no
obligation to revise or update publicly any forward-looking statements for any
reason, except as required by law.
7
HALLIBURTON COMPANY Condensed Consolidated Statements of Operations (Millions of
dollars and shares except per share data) (Unaudited)
Three Months Nine Months
Ended Ended
September 30, June 30, September 30,
2026 2025 2026 2026 2025
Revenue:
Completion and $3,089 $3,223 $3,202 $9,307 $9,514
Production
Drilling and 2,614 2,377 2,512 7,512 7,013
Evaluation
Total revenue $5,703 $5,600 $5,714 $16,819 $16,527
Operating
income:
Completion and $457 $514 $474 $1,370 $1,558
Production
Drilling and 391 348 338 1,080 1,012
Evaluation
Corporate and -75 -64 -83 -227 -196
other
SAP S4 upgrade -42 -50 -46 -130 -112
expense
Impairments
and other -107 -392 95 -12 -748
(charges)cred…
(a)
Total
operating 624 356 778 2,081 1,514
income
Interest -84 -88 -83 -249 -266
expense, net
Other, net (b) -27 -49 -31 -86 -112
Income before 513 219 664 1,746 1,136
income taxes
Income tax -94 -199 -126 -325 -433
provision (c)
Net income $419 $20 $538 $1,421 $703
Net income
attributable -2 -2 -4 -9 -9
tononcontroll…
interest
Net income
attributable $417 $18 $534 $1,412 $694
to company
Basic and
diluted net $0.50 $0.02 $0.64 $1.69 $0.81
income
pershare
Basic weighted
average 831 849 836 835 857
commonshares
outstanding
Diluted
weighted
average 832 850 838 836 858
commonshares
outstanding
See Footnote Table 1 for details of
the impairments and other (charges)
credits recorded during thethree and
nine monthsendedSeptember 30,
2026and2025, and thethree months
endedJune 30, 2026.
During the three and nine months
endedSeptember 30, 2025, Halliburton
incurred a charge of $23 million due
(a) to theimpairment of an investment in
(b) Argentina.
──────────────────────────────────────────────────────────────────────────────
During thethree and nine months
endedSeptember 30, 2026and the three
months ended June 30, 2026, the income
taxprovision includes the tax effect
on impairments and other (charges)
credits. The income tax provision
during the three andnine months ended
(c) September 30, 2025 includes a $125
million tax expense associated with a
valuation allowance recordedagainst
our United States foreign tax credits,
as well as the tax effect on
impairments and other charges and the
impairmentof an investment in
Argentina.
See Footnote Table 1
forReconciliation
of Operating Income to Adjusted
Operating Income.
See Footnote Table 2
forReconciliation
of Net Income Attributable to
Company to
Adjusted Net Income Attributable to
Company.
8
HALLIBURTON COMPANY Condensed Consolidated Balance Sheets (Millions of dollars)
(Unaudited)
September 30, December 31,
2026 2025
Assets
Current assets:
Cash and equivalents $1,843 $2,206
Receivables, net 5,515 4,942
Inventories 3,265 2,976
Other current assets 1,517 1,274
Total current assets 12,140 11,398
Property, plant, and equipment, net 5,152 5,261
Goodwill 3,021 2,938
Deferred income taxes 2,377 2,298
Operating lease right-of-use assets 1,018 938
Other assets 2,365 2,177
Total assets $26,073 $25,010
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $3,535 $3,133
Accrued employee compensation and 788 767
benefits
Current portion of operating lease 276 263
liabilities
Current maturities of long-term debt 90 —
Other current liabilities 1,323 1,425
Total current liabilities 6,012 5,588
Long-term debt 7,072 7,158
Operating lease liabilities 760 712
Employee compensation and benefits 431 428
Other liabilities 637 619
Total liabilities 14,912 14,505
Company shareholders’ equity 11,118 10,461
Noncontrolling interest in consolidated 43 44
subsidiaries
Total shareholders’ equity 11,161 10,505
Total liabilities and shareholders’ $26,073 $25,010
equity
9
HALLIBURTON COMPANY Condensed Consolidated Statements of Cash Flows (Millions of
dollars) (Unaudited)
Nine Months Ended Three MonthsEnded
September 30, September 30,
2026 2025 2026
Cash flows from operating
activities:
Net income $1,421 $703 $419
Adjustments to reconcile net
income to cash flows
fromoperating activities:
Depreciation, depletion, and 887 846 296
amortization
Impairments and other charges 12 748 107
Working capital (a) -517 -111 -330
Other operating activities -338 -425 -124
Total cash flows provided by 1,465 1,761 368
operating activities
Cash flows from investing
activities:
Capital expenditures -693 -917 -266
Purchases of investment -111 -128 -18
securities
Payments to acquire businesses -107 -175 —
Purchases of equity -101 -343 —
investments
Proceeds from sales of
property, plant, and 175 138 54
equipment
Sales of investment securities 65 228 16
Sale of an equity investment 50 120 50
Other investing activities -48 -49 20
Total cash flows used in -770 -1,126 -144
investing activities
Cash flows from financing
activities:
Stock repurchase program -558 -757 -250
Dividends to shareholders -426 -436 -141
Other financing activities -52 -23 -26
Total cash flows used in -1,036 -1,216 -417
financing activities
Effect of exchange rate -22 -11 -12
changes on cash
Decrease in cash and -363 -592 -205
equivalents
Cash and equivalents at 2,206 2,618 2,048
beginning of period
Cash and equivalents at end of $1,843 $2,026 $1,843
period
(a) Working capital includes receivables,
inventories, and accounts payable.
See Footnote Table 3
forReconciliation
of Cash Flows from Operating
Activities
to Free Cash Flow.
10
HALLIBURTON COMPANY EBITDA, Adjusted EBITDA, Related Margins, and
Reconciliations (Millions of dollars) (Unaudited)
Three Months Nine Months
Ended Ended
September 30, June 30, September 30,
2026 2025 2026 2026 2025
Net income
attributable $417 $18 $534 $1,412 $694
to company
Net income
attributable
to 2 2 4 9 9
noncontrolling
interest
Net Income $419 $20 $538 $1,421 $703
Interest 84 88 83 249 266
expense, net
Income tax 94 199 126 325 433
provision
Depreciation,
depletion, and 296 285 296 887 846
amortization
EBITDA (a) $893 $592 $1,043 $2,882 $2,248
Other, net (b) — 23 — — 23
Impairments
and other
charges 107 392 -95 12 748
(credits)
(c)
Adjusted $1,000 $1,007 $948 $2,894 $3,019
EBITDA
Total revenue $5,703 $5,600 $5,714 $16,819 $16,527
Net income
attributable 7.3% 0.3% 9.3% 8.4% 4.2%
to company
margin
Net income 7.3% 0.4% 9.4% 8.4% 4.3%
margin
EBITDA margin 15.7% 10.6% 18.3% 17.1% 13.6%
(a)
Adjusted
EBITDA margin 17.5% 18.0% 16.6% 17.2% 18.3%
(d)
EBITDA and EBITDA margin are non-GAAP financial measures. EBITDA is
calculated as “Net income” before “Interestexpense, net,” “Income tax
provision” and “Depreciation, depletion, and amortization” for the
respective periods. EBITDAmargin is calculated as “EBITDA” divided by
“Total revenue.” Management believes EBITDA and EBITDA margin are
keymeasures to assess and understand operating performance and are
consistent with the disclosures of Halliburton’s direct,large-cap
competitors.
For thethree and nine months endedSeptember 30, 2025, adjusted EBITDA
excludes a $23 million impairment on aninvestment in Argentina.
(a) See Footnote Table 1 for details of the impairments and other charges
(b) (credits) recorded during thethree and nine monthsendedSeptember 30,
(c) 2026and2025, and thethree months endedJune 30, 2026.
──────────────────────────────────────────────────────────────────────────────
Adjusted EBITDA margin is a non-GAAP financial measure which is
calculated as: “Adjusted EBITDA” divided by “Totalrevenue.” Management
(d) believes Adjusted EBITDA margin is a key measure to assess and
understand operating performanceand is consistent with disclosures of
Halliburton's direct, large-cap competitors.
11
HALLIBURTON COMPANY Selected Operating Segment Results and Reconciliation of
Segment Operating Income to Segment EBITDA and EBITDA Margin (Millions of
dollars) (Unaudited)
Three
Months
Ended
September September June 30,
30, 30,
2026 2025 2026
Completi… Drilling… Completi… Drillin… Completi… Drillin…
Revenue $3,089 $2,614 $3,223 $2,377 $3,202 $2,512
Operati… $457 $391 $514 $348 $474 $338
income
Depreci…
depleti… 161 126 156 123 162 126
and
amortiz…
Segment
EBITDA $618 $517 $670 $471 $636 $464
(a)
Operati… 14.8% 15.0% 15.9% 14.6% 14.8% 13.5%
margin
Segment
EBITDA 20.0% 19.8% 20.8% 19.8% 19.9% 18.5%
margin
(a)
Nine Months
Ended
September 30, September 30,
2026 2025
Completionan… DrillingandEv… Completionan… DrillingandEv…
Revenue $9,307 $7,512 $9,514 $7,013
Operating $1,370 $1,080 $1,558 $1,012
income
Depreciatio…
depletion, 486 378 462 368
and
amortization
Segment $1,856 $1,458 $2,020 $1,380
EBITDA (a)
Operating 14.7% 14.4% 16.4% 14.4%
margin
Segment
EBITDA 19.9% 19.4% 21.2% 19.7%
margin (a)
Segment EBITDA and Segment EBITDA margin are non-GAAP financial
measures. Segment EBITDA is calculated as segment“Operating income”
plus “Depreciation, depletion, and amortization” for the respective
(a) periods. Segment EBITDA margin is calculated as“Segment EBITDA” divided
by segment “Revenue”. Management believes Segment EBITDA and Segment
EBITDA margin are keymeasures to assess and understand segment
operating performance and are consistent with the disclosures of
Halliburton’s direct,large-cap competitors.
12
HALLIBURTON COMPANY Revenue Comparison by Geographic Region (Millions of
dollars) (Unaudited)
Three Months Nine Months
Ended Ended
September 30, June 30, September 30,
Revenue 2026 2025 2026 2026 2025
North America $2,160 $2,364 $2,276 $6,572 $6,859
Latin America 1,122 996 1,123 3,335 2,869
Europe/Africa… 1,016 828 1,017 2,891 2,423
Middle 1,405 1,412 1,298 4,021 4,376
East/Asia
Total revenue $5,703 $5,600 $5,714 $16,819 $16,527
13
FOOTNOTE TABLE 1 HALLIBURTON COMPANY Reconciliation of Operating Income to
Adjusted Operating Income (Millions of dollars) (Unaudited)
Three Months Nine Months
Ended Ended
September 30, June 30, September 30,
2026 2025 2026 2026 2025
Operating $624 $356 $778 $2,081 $1,514
income
Impairments
and other
charges
(credits):
Severance 107 169 — 107 276
costs
Inventory
costs and 25 — — 25 —
write-downs
Fixed and
other assets 14 115 — 14 115
write-offs
Impairment of
assets held — 96 — — 200
for sale
Loss on sale — — 17 17 —
of a business
Impairment of
real estate — — — — 53
facilities
Cybersecurity — -10 — — -10
incident
Gain on -36 -6 -64 -100 -6
investments
Other -3 28 -48 -51 120
Total
impairments
and other 107 392 -95 12 748
charges(cred…
(a) (b)
Adjusted
operating $731 $748 $683 $2,093 $2,262
income
Total revenue $5,703 $5,600 $5,714 $16,819 $16,527
Operating 10.9% 6.4% 13.6% 12.4% 9.2%
income margin
Adjusted
operating 12.8% 13.4% 12.0% 12.4% 13.7%
income margin
During thethree months endedSeptember 30, 2026, Halliburton recognized
a pre-tax charge of$107 millionprimarily relatedto$107 millionof
severance costs associated with the rationalization of our global
headcount, and$25 millionof inventorycosts and write-downs, partially
offset by a$36 milliongain resulting from the sale of a portion of our
shares in an equityinvestment.During thethree months endedJune 30,
2026, Halliburton recognized a pre-tax credit of $95 million primarily
(a) due to a $54million gain resulting from changes in our ownership
interest in an equity investment, and a $10 million gain from
remeasuringan equity investment to fair value. Other credits of $48
million were primarily due to a government refund recovery. Thesegains
were partially offset by a $17 million loss on the sale of a portion of
our chemical business, which closed in April 2026.During thethree
months endedSeptember 30, 2025, Halliburton recognized a pre-tax charge
of $392 million as a result ofseverance costs, fixed and other assets
write-offs, an impairment of assets held for sale, and other items.
During the nine months ended September 30, 2026, Halliburton recognized
a pre-tax charge of $12 million primarily related to$107 million of
severance costs associated with the rationalization of our global
headcount, partially offset by a $102 milliongain primarily related to
a $54 million gain resulting from changes in our ownership interest in
(b) an equity investment and a$36milliongain resulting from the sale of a
portion of our shares in an equity investment.During the nine months
ended September 30, 2025, Halliburton recognized a pre-tax charge of
$748 million as a result ofseverance costs, an impairment of assets
held for sale, an impairment on real estate facilities, and other
items, primarilyrelated to legacy environmental remediation cost
estimate increases.
14
FOOTNOTE TABLE 2 HALLIBURTON COMPANY Reconciliation of Net Income Attributable
to Company to Adjusted Net Income Attributable to Company (Millions of dollars
and shares except per share data) (Unaudited)
Three Months Nine Months
Ended Ended
September 30, June 30, September 30,
2026 2025 2026 2026 2025
Net income
attributable $417 $18 $534 $1,412 $694
to company
Adjustments:
Impairments
and other
charges 107 392 -95 12 748
(credits)
(a)
Other, net (b) — 23 — — 23
Total
adjustments, 107 415 -95 12 771
before taxes
Tax valuation — 125 — — 125
allowance (c)
Tax adjustment -23 -62 22 -1 -105
(c)
Total
adjustments, 84 478 -73 11 791
net of taxes
Adjusted net
income
attributable $501 $496 $461 $1,423 $1,485
to
company
Diluted
weighted 832 850 838 836 858
average common
sharesoutstan…
Net income per $0.50 $0.02 $0.64 $1.69 $0.81
diluted share
Adjusted net
income per $0.60 $0.58 $0.55 $1.70 $1.73
diluted share
See Footnote Table 1 for details of the impairments and other charges
(credits) recorded during thethree and nine monthsendedSeptember 30,
2026and2025, and thethree months endedJune 30, 2026.
During thethree and nine months endedSeptember 30, 2025, Halliburton
(a) incurred a charge of $23 million due to theimpairment of an investment
(b) in Argentina.
──────────────────────────────────────────────────────────────────────────────
During thethree and nine months endedSeptember 30, 2026and the three
months ended June 30, 2026, the adjustmentincludes the tax effect on
impairments and other charges (credits). During the three and nine
months endedSeptember 30,2025, the adjustments in the table above
(c) include a $125 million tax expense associated with a valuation
allowance recordedagainst our deferred tax assets, which resulted from
the impact on the realizability of our United States foreign tax
credits dueto the “One Big Beautiful Bill Act” (OBBBA), as well as the
tax effect on impairments and other charges and the impairment ofan
investment in Argentina.
15
FOOTNOTE TABLE 3 HALLIBURTON COMPANY Reconciliation of Cash Flows from Operating
Activities to Free Cash Flow (Millions of dollars) (Unaudited)
Nine Months Ended Three Months Ended
September 30, September 30,
2026 2025 2026
Total cash flows provided by $1,465 $1,761 $368
operating activities
Capital expenditures -693 -917 -266
Proceeds from sales of
property, plant, and 175 138 54
equipment
Free cash flow $947 $982 $156
16 Conference Call Details Halliburton Company (NYSE: HAL) will host a
conference call on Tuesday, October 20, 2026 , to discuss its third quarter 2026
financial results. The call will begin at 8:00 a.m. CT ( 9:00 a.m. ET). Please
visit the Halliburton website to listen to the call via live webcast. A recorded
version will be available for seven days under the same link immediately
following the conclusion of the conference call. You can also pre-register for
the conference call and obtain your dial in number and passcode by clicking here
. CONTACTS Investor Relations David Coleman Investors@Halliburton.com
281-871-2688 Media Relations Alexandra Franceschi PR@Halliburton.com
281-871-2601