Halliburton Co (HAL) Q1 2026 Earnings Call Transcript
Halliburton posted full‑year 2025 revenue of $22.2 billion with an adjusted operating margin of 14%, generating $2.9 billion of cash flow from operations and returning 85% of free cash flow to shareholders. International revenue fell only 2% year‑over‑year, outpacing a 7% rig‑count decline, while North America revenue slipped 6% to $9.1 billion. Q4 revenue was flat at $5.7 billion, and technology adoption – notably Zeus IQ, sensory and auto‑frac – rose 8% quarter‑over‑quarter. Management guided for a high‑single‑digit North America revenue decline in 2026, with international revenue expected to be flat to modestly up and capex projected at $1.1 billion.
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