Halliburton profits more than double in Q1 despite flat revenue

Halliburton (NYSE:HAL), a bellwether for the global energy services sector, reported a sharp increase in bottom-line results for the first quarter of 2026, despite a lack of growth in its top-line revenue.

For the quarter ended March 31, 2026, the Houston-based company posted net income of $461 million, or $0.55 per diluted share.

This represents more than a twofold increase compared to the $204 million, or $0.24 per share, reported in the same period a year ago.

On an adjusted basis, however, the current quarter's earnings trailed the first quarter of 2025, which saw adjusted net income of $517 million, or $0.60 per share, when excluding impairments and other charges.

Total revenue for the quarter was $5.4 billion, holding flat compared to the first quarter of 2025.

The stagnation in revenue highlights a maturing cycle in North American shale and a steady, yet cautious, international market.

Operating income for the quarter stood at $679 million, a significant recovery from the $431 million reported in the prior year’s first quarter, though lower than the previous year's adjusted operating income of $787 million.