AI Takeaway
Halliburton delivered a strong Q1 2026 with net income surging 126% YoY to $461M and EPS doubling to $0.55, though operating cash flow declined 27.6% to $273M.
EPS (Basic)
$0.55
++129.17% YoY
Operating Income
$679M
++57.54% YoY
Filed · Source: SEC EDGAR 10-Q filing
Net income jumped 126% year-over-year to $461M in Q1 2026, while operating income rose 57.5% to $679M, reflecting significant improvement in profitability versus Q1 2025's $204M net income and $431M operating income.
Source: Source: 10-Q Income Statement Data
Basic and diluted EPS both reached $0.55 in Q1 2026, up 129.2% from $0.24 in Q1 2025, indicating strong per-share value creation for shareholders despite a relatively stable share count.
Source: Source: 10-Q Income Statement Data
Total liabilities declined 3.1% YoY to $14.32B, with current liabilities falling 4.9% to $5.54B, suggesting the company is reducing its debt burden and improving its financial position.
Source: Source: 10-Q Balance Sheet Data
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Upgrade to unlockOperating cash flow of $273M significantly lagged net income of $461M in Q1 2026, a gap that may signal working capital build-up or aggressive revenue recognition. If this divergence persists, it could pressure liquidity and free cash flow generation.
Source: Source: 10-Q Cash Flow Statement Data
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Upgrade to unlockReported EPS of $0.55 versus the $0.50 analyst consensus — a +9.2% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Income | $679M | $431M | +57.54% |
Net Income | $461M | $204M | +125.98% |
EPS (Basic) | $0.55 | $0.24 | +129.17% |
EPS (Diluted) | $0.55 | $0.24 | +129.17% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $25.14B | $25.18B | -0.15% |
Current Assets | $11.54B | $11.53B | +0.05% |
Total Liabilities | $14.32B | $14.77B | -3.07% |
Current Liabilities | $5.54B | $5.82B | -4.91% |
Stockholders' Equity | $10.78B | $10.37B | +3.98% |
Cash & Equivalents | $2B | — | — |
Long-Term Debt | $7.07B | — | — |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $273M | $377M | -27.59% |
Investing Cash Flow | $-243M | $-784M | +69.01% |
Financing Cash Flow | $-237M | $-406M | +41.63% |
Share Buybacks | $100M | $250M | -60.00% |
D&A | $295M | $277M | +6.50% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
ROE | 4.3% | — | — |
ROA | 1.8% | — | — |
Current Ratio | $2.083 | — | — |
Debt to Equity | $1.328 | — | — |
Other companies in Oil & Gas Equipment & Services
Halliburton reported Q1 2026 EPS of $0.55 (basic and diluted), more than double the $0.24 reported in Q1 2025. Net income reached $461M, a 126% year-over-year increase, reflecting strong operational performance in its oilfield services business.
The headline story for HAL Q1 2026 was explosive earnings growth, with net income up 126% to $461M and operating income up 57.5% to $679M. However, operating cash flow fell 27.6% to $273M, creating a notable divergence between reported profits and cash generation that investors should watch closely.
Halliburton's balance sheet shows $2.0B in cash, a healthy current ratio of 2.08, and stockholders' equity of $10.78B, suggesting solid short-term liquidity. However, long-term debt of $7.07B and a debt-to-equity ratio of 1.33 represent meaningful leverage for a cyclical oilfield services company.
Despite net income surging 126% to $461M, operating cash flow fell 27.6% YoY to $273M in Q1 2026, suggesting significant working capital build-up or timing differences in cash collections. Free cash flow was very thin at approximately $30M after $243M in investing outflows, a potential concern for capital allocation flexibility.
Halliburton made progress on deleveraging in Q1 2026, with total liabilities declining 3.1% YoY to $14.32B and current liabilities falling 4.9% to $5.54B. Long-term debt stood at $7.07B, and the company reduced share buybacks by 60% to $100M, possibly redirecting capital toward balance sheet improvement.