Form 8-K

8-K — HALLIBURTON CO

Accession: 0000045012-26-000057

Filed: 2026-07-21

Period: 2026-07-21

CIK: 0000045012

SIC: 1389 (OIL, GAS FIELD SERVICES, NBC)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — hal-20260721.htm (Primary)

EX-99.1 (livemastererdocument.htm)

GRAPHIC (halliburtona.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: hal-20260721.htm · Sequence: 1

hal-20260721

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

HALLIBURTON COMPANY

(Exact name of registrant as specified in its charter)

Delaware

001-03492 75-2677995

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

3000 North Sam Houston Parkway East, Houston, Texas 77032

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (281) 871-2699

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, par value $2.50 per share HAL New York Stock Exchange

NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On July 21, 2026, Halliburton Company (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026 and providing access information for an investor conference call to discuss those results. The scheduled conference call was previously announced on June 10, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 2.02. The press release will be published on the Company’s website at www.halliburton.com.

The Company’s press release announcing its results for the quarter ended June 30, 2026 and information to be discussed on the conference call contain certain non-GAAP financial measures (as defined under the Securities and Exchange Commission’s Regulation G). Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles, or GAAP. The Company has provided reconciliations within the press release and in the Quarterly Results and Presentations section of our website of the non-GAAP measures to the most directly comparable GAAP financial measure.

In accordance with General Instruction B.2 of Form 8-K, the information included in this Current Report under Item 2.02 and in the press release as Exhibit 99.1 is deemed to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended (Securities Act), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01. Regulation FD Disclosure

On July 21, 2026, the Company issued a press release announcing its results for the quarter ended June 30, 2026. A copy of the press release is set forth in Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information included in this Current Report under Item 7.01 and in the press release as Exhibit 99.1 is deemed to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act.

(d) Exhibits

99.1 Press Release of Halliburton Company, dated July 21, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HALLIBURTON COMPANY

Date: July 21, 2026 By: /s/ Stephanie S. Holzhauser

Stephanie S. Holzhauser

Senior Vice President and Chief

Accounting Officer

EX-99.1

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Live Master ER Document

Exhibit 99.1

HALLIBURTON ANNOUNCES SECOND QUARTER 2026 RESULTS

•Net income of $0.64 per diluted share.

•Adjusted net income per diluted share1 of $0.55.

•Revenue of $5.7 billion and operating margin of 14%.

•Adjusted operating margin2 of 12%.

•Cash flow from operations of $824 million and free cash flow3 of $668 million.

•Approximately $200 million of share repurchases.

HOUSTON – July 21, 2026 – Halliburton Company (NYSE: HAL) announced today net

income of $534 million, or $0.64 per diluted share, for the second quarter of 2026 and

adjusted net income4, excluding “Impairments and other credits”, of $461 million, or $0.55

per diluted share. This compares to net income for the first quarter of 2026 of $461 million,

or $0.55 per diluted share. Halliburton’s total revenue for the second quarter of 2026 was

$5.7 billion, compared to total revenue of $5.4 billion in the first quarter of 2026. Operating

income was $778 million in the second quarter of 2026, compared to operating income of

$679 million in the first quarter of 2026. Adjusted operating income5 in the second quarter of

2026, excluding “Impairments and other credits,” was $683 million.

“I am pleased with Halliburton’s performance this quarter, and believe the global outlook for

Halliburton is strong. I expect our differentiated technology and value proposition set the

stage for revenue growth and margin expansion.” commented Jeff Miller, Chairman,

President and CEO.

“In international markets, I am excited about Halliburton’s contract awards and pipeline of

future opportunities. I see demand growth for our services and technology in every region

we serve.

“In North America, I am encouraged by the recovery we saw this quarter and I expect

incremental improvements through the year.

“I expect that our consistent focus on returns and capital discipline will drive long-term

success for Halliburton and its shareholders,” concluded Miller.

Operating Segments

Completion and Production

Completion and Production revenue in the second quarter of 2026 was $3.2 billion, an

increase of $186 million, or 6% sequentially, while operating income was $474 million, an

increase of $35 million, or 8% sequentially. These results were primarily driven by increased

stimulation activity in the Western Hemisphere and improved well intervention services in

Asia. Partially offsetting these increases were lower specialty chemicals activity in North

America resulting from the completed sale of a portion of our chemical business, decreased

cementing activity in Latin America, and lower activity across multiple product service lines

in the Middle East.

Drilling and Evaluation

Drilling and Evaluation revenue in the second quarter of 2026 was $2.5 billion, an increase

of $126 million, or 5% sequentially, while operating income was $338 million, a decrease of

$13 million, or 4% sequentially. Revenue improvements were primarily driven by increased

drilling-related services and higher wireline activity in North America and Europe/Africa, and

increased drilling-related services in Asia. Partially offsetting these increases were lower

software sales globally, decreased project management activity in Latin America and lower

wireline activity in the Middle East. Operating income decreased due to the seasonal roll off

of software sales.

Geographic Regions

North America

North America revenue in the second quarter of 2026 was $2.3 billion, an increase of 7%

sequentially. This increase was primarily driven by higher stimulation activity and increased

well construction activity in US Land, and higher fluids activity in the Gulf of America.

Partially offsetting these increases were lower specialty chemicals activity in US Land

following the sale of a portion of our chemical business and decreased drilling activity in the

Gulf of America.

International

International revenue in the second quarter of 2026 was $3.4 billion, an increase of 5%

when compared to the first quarter of 2026.

Latin America revenue in the second quarter of 2026 was $1.1 billion, an increase of 3%

sequentially. These results were primarily driven by increased stimulation activity in

Argentina and Mexico, and improved completion tool sales in Mexico. Partially offsetting

these increases were lower activity across multiple product service lines in the Caribbean,

decreased well construction activity in Mexico and Ecuador, and decreased completion tool

sales in Brazil.

Europe/Africa revenue in the second quarter of 2026 was $1.0 billion, an increase of 19%

sequentially. These results were primarily driven by improved activity across multiple product

service lines in the North Sea, increased well construction activity in Namibia and Egypt,

higher completion tool sales in the Mediterranean and Ivory Coast, and increased project

management activity in Angola. Partially offsetting these increases were decreased software

sales across the region and lower activity across multiple product service lines in Libya.

Middle East/Asia revenue in the second quarter of 2026 was $1.3 billion, a decrease of 2%

sequentially. These results were primarily driven by lower activity across multiple product

service lines in Kuwait, Iraq, and Qatar as a result of the ongoing geopolitical conflict in the

Middle East. Partially offsetting these decreases were higher well construction activity in

Saudi Arabia and the United Arab Emirates, and increased drilling-related services and

higher well intervention services in Asia.

Other Financial Items

During the second quarter of 2026, Halliburton:

•Repurchased approximately $200 million of its common stock.

•Paid dividends of $0.17 per share.

•Spent $46 million on SAP S4 migration.

•Recognized a pre-tax credit of $95 million, related to “Impairments and other credits.”

Selective Technology & Highlights

•Halliburton and Shape Digital entered a strategic collaboration to advance digital

asset performance management through a unified asset view that connects

subsurface and surface intelligence. The collaboration extends trusted data, domain

science, operational expertise, and applied AI to support predictive, asset-level

decision-making over the full production lifecycle.

•Halliburton successfully deployed its VersaFlex® expandable liner hanger system in

the bp-operated Azeri–Chirag–Gunashli project offshore Azerbaijan in the Caspian

Sea. The operation reinforces the companies’ long-standing collaboration and

demonstrates Halliburton’s ability to deliver high-value well construction solutions in

one of the region’s most complex offshore environments. The project highlights the

Company’s focus to support customer objectives throughout the well life cycle.

•Halliburton launched the Xaminer® Deep Testing logging service, the newest addition

to the Reservoir Xaminer™ formation testing service. Developed through close

collaboration with operators facing increasingly complex reservoirs, the service brings

deep-reading producibility and boundary identification earlier in the well life cycle to

support integrated decisions that complement traditional drill stem testing.

•Halliburton launched the Optimized Single-Trip Multi-Zone (OSTMZ®) sand control

system that reduces rig time, lowers total cost of ownership for operators, and safely

improves well productivity as complexity increases. The system supports efficient

completion operations and increases reservoir coverage in complex multizone wells.

Operators that complete multizone wells often manage extended schedules, multiple

service-tool trips, and increased operational exposure. The OSTMZ sand control

system addresses these challenges and treats multiple zones in a single trip, without

deployment-tool repositioning or repeated surface-equipment testing.

•Halliburton held its 2026 Technology Showcase from May 4-7 in Houston, which was

attended by nearly 400 industry professionals from around the world. The event

brought industry and technical leaders together and showed how digital capabilities

translate into real-time execution at the wellsite to improve asset performance for our

customers. Halliburton showcased measurable value from the integration of software,

artificial intelligence, and automation into real-time operations.

•Halliburton announced the acquisition of InformatiQ AS, a Norway‑based software

company that develops cloud‑native applications for subsurface, drilling, well, and

logistics data. The acquisition converts a long‑standing collaboration into full

ownership, strengthens Landmark’s Agile Asset Management offering, and extends

its digital portfolio into new operational domains.

•Halliburton was awarded lump sum turnkey contracts by Aramco for multiple onshore

fields in the Kingdom of Saudi Arabia. The awards expand Halliburton’s role in the

program and demonstrate the Company’s ability to grow through integrated well

delivery at scale. The multi-year contracts encompass approximately 285 planned

wells. Halliburton will deliver a fully integrated execution model that includes oil re-

entry operations, drilling, completions, and workovers. The integrated approach

supports maximum asset value through operational consistency and timely well

delivery and helps advance Aramco’s objectives to maintain efficiency in its onshore

portfolio.

•Halliburton was awarded a multi-year contract from Aramco to deliver integrated

stimulation and completion services for unconventional gas development in the

Kingdom of Saudi Arabia. This award is part of a broader multi-billion contract,

supporting one of the largest unconventional gas development programs globally.

This award builds on Halliburton’s established portfolio supporting Aramco’s

unconventional program. Across many of the Kingdom’s unconventional plays,

Halliburton delivers a comprehensive suite of drilling and completion solutions. Its

integrated service model is designed to support high-intensity development programs

and improve operational efficiency, workflow predictability, and execution reliability.

This collaboration supports broader regional efforts toward integrated unconventional

development programs.

•Halliburton wins major integrated well construction contracts for the GranMorgu

deepwater development offshore Suriname, operated by TotalEnergies. The

agreement includes drilling and completions services for a long-term program.

Halliburton will deploy a fully integrated, digital and automation execution model that

unites planning, engineering, and operations to improve performance, accelerate

learning, and reduce total cost of ownership throughout well construction.

•Halliburton has been awarded a contract by Basra Oil Company to provide Integrated

Field Management Services and Engineering, Procurement, and Construction

Management (EPCM) for the development of the Bin Umar and Sindbad oil and gas

fields in southern Iraq. The contract scope includes field development planning,

production optimization, digital solutions, and EPCM services for the two fields.

Halliburton will deploy the Landmark portfolio to build a digital foundation that

connects subsurface insights, well delivery, production operations, and business

planning. Halliburton digitally integrates planning and execution to improve visibility,

increase efficiency, and support faster, higher-quality decisions.

(1)

Adjusted net income per diluted share is a non-GAAP financial measure; please see definition of Adjusted

Net Income Per Diluted Share in Footnote Table 3 and 4.

(2)

Adjusted operating margin is a non-GAAP financial measure; please see reconciliation of Operating

Income to Adjusted Operating Income in Footnote Table 1 and 2.

(3)

Free cash flow is a non-GAAP financial measure; please see reconciliation of Cash Flows from Operating

Activities to Free Cash Flow in Footnote Table 5.

(4)

Adjusted net income is a non-GAAP financial measure; please see reconciliation of Net Income to

Adjusted Net Income in Footnote Table 3 and 4.

(5)

Adjusted operating income is a non-GAAP financial measure; please see reconciliation of Operating

Income to Adjusted Operating Income in Footnote Table 1 and 2.

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.

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, 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 success of acquired businesses and joint ventures; risks related to the

deployment of artificial intelligence. Halliburton's Form 10-K for the year ended December

31, 2025, Form 10-Q for the quarter ended March 31, 2026, Current Reports on Form 8-K

and other Securities and Exchange Commission filings 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)

Three Months Ended

June 30,

March 31,

2026

2025

2026

Revenue:

Completion and Production

$3,202

$3,171

$3,016

Drilling and Evaluation

2,512

2,339

2,386

Total revenue

$5,714

$5,510

$5,402

Operating income:

Completion and Production

$474

$513

$439

Drilling and Evaluation

338

312

351

Corporate and other

(83)

(66)

(69)

SAP S4 upgrade expense

(46)

(32)

(42)

Impairments and other credits (a)

—

Total operating income

778

727

679

Interest expense, net

(83)

(92)

(82)

Other, net

(31)

(24)

(28)

Income before income taxes

664

611

569

Income tax provision (b)

(126)

(131)

(105)

Net income

$538

$480

$464

Net income attributable to noncontrolling interest

(4)

(8)

(3)

Net income attributable to company

$534

$472

$461

Basic and diluted net income per share

$0.64

$0.55

Basic weighted average common shares outstanding

836

857

837

Diluted weighted average common shares outstanding

838

857

839

(a)

See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months

ended June 30, 2026.

(b)

The income tax provision during the three months ended June 30, 2026 includes the tax effect on impairments and

other credits. The income tax provision during the three months ended March 31, 2026 includes a $32 million tax

benefit associated with a valuation allowance release.

See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.

See Footnote Table 3 for Reconciliation of Net Income to Adjusted Net Income.

HALLIBURTON COMPANY

Condensed Consolidated Statements of Operations

(Millions of dollars and shares except per share data)

(Unaudited)

Six Months Ended

June 30,

2026

2025

Revenue:

Completion and Production

$6,218

$6,291

Drilling and Evaluation

4,898

4,636

Total revenue

$11,116

$10,927

Operating income:

Completion and Production

$913

$1,044

Drilling and Evaluation

689

664

Corporate and other

(152)

(132)

SAP S4 upgrade expense

(88)

(62)

Impairments and other (charges) credits (a)

(356)

Total operating income

1,457

1,158

Interest expense, net

(165)

(178)

Other, net

(59)

(63)

Income before income taxes

1,233

917

Income tax provision (b)

(231)

(234)

Net income

$1,002

$683

Net income attributable to noncontrolling interest

(7)

Net income attributable to company

$995

$676

Basic and diluted net income per share

$1.19

$0.78

Basic weighted average common shares outstanding

836

862

Diluted weighted average common shares outstanding

838

862

(a)

See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended

June 30, 2026 and June 30, 2025.

(b)

The income tax provision during the six months ended June 30, 2026, includes the tax effect on impairments and other

(charges) credits and a $32 million tax benefit associated with a valuation allowance release. The income tax provision

during the six months ended June 30, 2025, includes the tax effect on impairments and other (charges) credits.

See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.

See Footnote Table 4 for Reconciliation of Net Income to Adjusted Net Income.

HALLIBURTON COMPANY

Condensed Consolidated Balance Sheets

(Millions of dollars)

(Unaudited)

June 30,

December 31,

2026

2025

Assets

Current assets:

Cash and equivalents

$2,048

$2,206

Receivables, net

5,325

4,942

Inventories

3,056

2,976

Other current assets

1,453

1,274

Total current assets

11,882

11,398

Property, plant, and equipment, net

5,173

5,261

Goodwill

3,020

2,938

Deferred income taxes

2,331

2,298

Operating lease right-of-use assets

1,019

938

Other assets

2,403

2,177

Total assets

$25,828

$25,010

Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable

$3,456

$3,133

Accrued employee compensation and benefits

681

767

Current portion of operating lease liabilities

287

263

Current maturities of long-term debt

—

Other current liabilities

1,373

1,425

Total current liabilities

5,887

5,588

Long-term debt

7,071

7,158

Operating lease liabilities

751

712

Employee compensation and benefits

413

428

Other liabilities

654

619

Total liabilities

14,776

14,505

Company shareholders’ equity

11,010

10,461

Noncontrolling interest in consolidated subsidiaries

Total shareholders’ equity

11,052

10,505

Total liabilities and shareholders’ equity

$25,828

$25,010

HALLIBURTON COMPANY

Condensed Consolidated Statements of Cash Flows

(Millions of dollars)

(Unaudited)

Six Months Ended

Three Months

Ended

June 30,

2026

2025

2026

Cash flows from operating activities:

Net income

$1,002

$683

$538

Adjustments to reconcile net income to cash flows from

operating activities:

Depreciation, depletion, and amortization

591

561

296

Working capital (a)

(187)

100

Impairments and other charges (credits)

(95)

356

(95)

Other operating activities

(214)

(427)

Total cash flows provided by operating activities

1,097

1,273

824

Cash flows from investing activities:

Capital expenditures

(427)

(656)

(235)

Payments to acquire businesses

(107)

(162)

(10)

Purchases of equity investments

(101)

(345)

(101)

Purchases of investment securities

(93)

(115)

(91)

Proceeds from sales of property, plant, and equipment

121

Sales of investment securities

Sale of an equity investment

—

120

—

Other investing activities

(68)

(36)

(47)

Total cash flows used in investing activities

(626)

(1,040)

(383)

Cash flows from financing activities:

Stock repurchase program

(308)

(507)

(208)

Dividends to shareholders

(285)

(292)

(143)

Other financing activities

(26)

(12)

(31)

Total cash flows used in financing activities

(619)

(811)

(382)

Effect of exchange rate changes on cash

(10)

(2)

(14)

Increase (decrease) in cash and equivalents

(158)

(580)

Cash and equivalents at beginning of period

2,206

2,618

2,003

Cash and equivalents at end of period

$2,048

$2,038

$2,048

(a)

Working capital includes receivables, inventories, and accounts payable.

See Footnote Table 5 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow.

HALLIBURTON COMPANY

Revenue and Operating Income Comparison

By Operating Segment and Geographic Region

(Millions of dollars)

(Unaudited)

Three Months Ended

June 30,

March 31,

Revenue

2026

2025

2026

By operating segment:

Completion and Production

$3,202

$3,171

$3,016

Drilling and Evaluation

2,512

2,339

2,386

Total revenue

$5,714

$5,510

$5,402

By geographic region:

North America

$2,276

$2,259

$2,136

Latin America

1,123

977

1,090

Europe/Africa/CIS

1,017

820

858

Middle East/Asia

1,298

1,454

1,318

Total revenue

$5,714

$5,510

$5,402

Operating Income

By operating segment:

Completion and Production

$474

$513

$439

Drilling and Evaluation

338

312

351

Total operations

812

825

790

Corporate and other

(83)

(66)

(69)

SAP S4 upgrade expense

(46)

(32)

(42)

Impairments and other credits

—

Total operating income

$778

$727

$679

See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.

HALLIBURTON COMPANY

Revenue and Operating Income Comparison

By Operating Segment and Geographic Region

(Millions of dollars)

(Unaudited)

Six Months Ended

June 30,

Revenue

2026

2025

By operating segment:

Completion and Production

$6,218

$6,291

Drilling and Evaluation

4,898

4,636

Total revenue

$11,116

$10,927

By geographic region:

North America

$4,412

$4,495

Latin America

2,213

1,873

Europe/Africa/CIS

1,875

1,595

Middle East/Asia

2,616

2,964

Total revenue

$11,116

$10,927

Operating Income

By operating segment:

Completion and Production

$913

$1,044

Drilling and Evaluation

689

664

Total operations

1,602

1,708

Corporate and other

(152)

(132)

SAP S4 upgrade expense

(88)

(62)

Impairments and other (charges) credits

(356)

Total operating income

$1,457

$1,158

See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.

FOOTNOTE TABLE 1

HALLIBURTON COMPANY

Reconciliation of Operating Income to Adjusted Operating Income

(Millions of dollars)

(Unaudited)

Three Months Ended

June 30,

March 31,

2026

2025

2026

Operating income

$778

$727

$679

Impairments and other charges (credits):

Gain on investments

(64)

—

Loss on sale of a business

—

Other

(48)

—

Total impairments and other credits (a)

(95)

—

Adjusted operating income (b) (c)

$683

$727

$679

(a)

During the three months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a $54

million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from

remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund

recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business, which

closed in April 2026.

(b)

Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total

impairments and other 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

when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily

because management views the excluded items to be outside of the company's normal operating results. Management

analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in

the business, and to establish operational goals. The adjustments remove the effect of these items.

(c)

We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-

GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating

margin is useful to investors to assess and understand operating performance.

FOOTNOTE TABLE 2

HALLIBURTON COMPANY

Reconciliation of Operating Income to Adjusted Operating Income

(Millions of dollars)

(Unaudited)

Six Months Ended

June 30,

2026

2025

Operating income

$1,457

$1,158

Impairments and other charges (credits):

Gain on investments

(64)

—

Loss on sale of a business

—

Severance costs

—

107

Impairment of assets held for sale

—

104

Impairment of real estate facilities

—

Other

(48)

Total impairments and other charges (credits) (a)

(95)

356

Adjusted operating income (b) (c)

$1,362

$1,514

(a)

During the six months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a

$54 million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from

remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund

recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business,

which closed in April 2026. During the six months ended June 30, 2025, Halliburton recognized a pre-tax charge of

$356 million as a result of severance costs, an impairment of assets held for sale, an impairment on real estate

facilities, and other items, primarily related to legacy environmental remediation cost estimate increases.

(b)

Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” 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 when comparing those results with previous and subsequent periods or forecasting

performance for future periods, primarily because management views the excluded items to be outside of the

company's normal operating results. Management analyzes operating income without the impact of these items as an

indicator of performance, to identify underlying trends in the business, and to establish operational goals. The

adjustments remove the effect of these items.

(c)

We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a

non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted

operating margin is useful to investors to assess and understand operating performance.

FOOTNOTE TABLE 3

HALLIBURTON COMPANY

Reconciliation of Net Income to Adjusted Net Income

(Millions of dollars and shares except per share data)

(Unaudited)

Three Months Ended

June 30,

March 31,

2026

2025

2026

Net income attributable to company

$534

$472

$461

Adjustments:

Impairments and other credits (a)

(95)

—

Total adjustments, before taxes

(95)

—

Tax adjustment (b)

—

Total adjustments, net of taxes (c)

(73)

—

Adjusted net income attributable to company (c)

$461

$472

$461

Diluted weighted average common shares outstanding

838

857

839

Net income per diluted share (d)

$0.64

$0.55

Adjusted net income per diluted share (d)

$0.55

(a)

See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months ended

June 30, 2026.

(b)

During the three months ended June 30, 2026, the tax adjustment includes the tax effect on impairments and other

credits.

(c)

Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income

attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net

income adjusted for impairments and other credits, along with the tax adjustment, is useful to investors to assess and

understand operating performance, especially when comparing those results with previous and subsequent periods or

forecasting performance for future periods, primarily because management views the excluded items to be outside of the

company's normal operating results. Management analyzes net income without the impact of these items as an indicator

of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove

the effect of these items.

(d)

Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average

common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated

as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.”

Management believes adjusted net income per diluted share is useful to investors to assess and understand operating

performance.

FOOTNOTE TABLE 4

HALLIBURTON COMPANY

Reconciliation of Net Income to Adjusted Net Income

(Millions of dollars and shares except per share data)

(Unaudited)

Six Months Ended

June 30,

2026

2025

Net income attributable to company

$995

$676

Adjustments:

Impairments and other charges (credits) (a)

(95)

356

Total adjustments, before taxes

(95)

356

Tax adjustment (b)

(43)

Total adjustments, net of taxes (c)

(73)

313

Adjusted net income attributable to company (c)

$922

$989

Diluted weighted average common shares outstanding

838

862

Net income per diluted share (d)

$1.19

$0.78

Adjusted net income per diluted share (d)

$1.10

$1.15

(a)

See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended

June 30, 2026 and June 30, 2025.

(b)

During the six months ended June 30, 2026 and June 30, 2025, the tax adjustment includes the tax effect on impairments

and other charges (credits).

(c)

Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income

attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net

income adjusted for the impairments and other charges (credits), along with the tax adjustment, is useful to investors to

assess and understand operating performance, especially when comparing those results with previous and subsequent

periods or forecasting performance for future periods, primarily because management views the excluded items to be

outside of the company's normal operating results. Management analyzes net income without the impact of these items

as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total

adjustments remove the effect of these items.

(d)

Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average

common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated

as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.”

Management believes adjusted net income per diluted share is useful to investors to assess and understand operating

performance.

FOOTNOTE TABLE 5

HALLIBURTON COMPANY

Reconciliation of Cash Flows from Operating Activities to Free Cash Flow

(Millions of dollars)

(Unaudited)

Six Months Ended

Three Months Ended

June 30,

2026

2025

2026

Total cash flows provided by operating activities

$1,097

$1,273

$824

Capital expenditures

(427)

(656)

(235)

Proceeds from sales of property, plant, and equipment

121

Free cash flow (a)

$791

$706

$668

(a)

Free Cash Flow is a non-GAAP financial measure which is calculated as “Total cash flows provided by operating activities”

less “Capital expenditures” plus “Proceeds from sales of property, plant, and equipment.” Management believes that Free

Cash Flow is a key measure to assess liquidity of the business and is consistent with the disclosures of Halliburton's

direct, large-cap competitors.

Conference Call Details

Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, July 21,

2026, to discuss its second 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

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