Halliburton's Q2 Revenue Hits $5.7B on North American Stimulation Rebound

Halliburton's Q2 Revenue Hits $5.7B on North American Stimulation Rebound

Halliburton’s second-quarter revenue rose to $5.7 billion, up from $5.4 billion in the first quarter, driven by a rebound in North American stimulation and well construction work, World Oil reports.

Market Impact

Net income totaled $534 million, or $0.64 per diluted share, and operating income climbed to $778 million. Chairman, President and CEO Jeff Miller said the company expects “continued momentum” in both North American and international markets, pointing to a strong pipeline of contract awards and rising demand for Halliburton’s technologies. Miller added he expects incremental improvement in North America through the rest of 2026.

North America revenue increased 7% quarter over quarter to $2.3 billion, reflecting stronger U.S. land stimulation and well construction activity. Completion and Production revenue rose 6% sequentially to $3.2 billion, helped by increased stimulation work in the Western Hemisphere, while Drilling and Evaluation revenue grew 5% to $2.5 billion on higher drilling-related services and wireline activity in North America, Europe and Africa. Internationally, Europe and Africa posted the strongest growth at 19%, tied to increased activity in the North Sea, Namibia, Egypt and Angola, while Middle East and Asia revenue slipped 2% as geopolitical conflict cut activity in Kuwait, Iraq and Qatar.

Halliburton also repurchased about $200 million in common stock during the quarter and confirmed new contract awards, including integrated well construction work for TotalEnergies’ GranMorgu development offshore Suriname, field development services in southern Iraq, and multiple contracts tied to Aramco’s onshore and unconventional gas programs in Saudi Arabia.

What It Means for Subcontractors

• U.S. land crews supporting stimulation and well construction should expect increased demand for services in the second half of 2026, based on Halliburton’s 7% quarter-over-quarter North America revenue growth to $2.3 billion.
• Wireline and drilling-support subcontractors in North America, Europe and Africa can point to Halliburton’s 5% sequential rise in Drilling and Evaluation revenue, to $2.5 billion, as a sign of firming activity in those regions.
• Firms with operations in the North Sea, Namibia, Egypt and Angola should prepare for continued contracting opportunities, as Europe and Africa posted 19% regional growth, the strongest of any segment.
• Companies servicing Kuwait, Iraq and Qatar should factor in reduced near-term activity, since geopolitical conflict pulled Middle East and Asia revenue down 2% this quarter.
• Contractors tied to the TotalEnergies GranMorgu project offshore Suriname or Aramco’s onshore and unconventional gas programs in Saudi Arabia should track subcontract packages tied to Halliburton’s newly confirmed awards in those developments.