Halliburton Q3 2026: adjusted EPS beats, revenue flat, cash flow thin
Halliburton beat on the bottom line while revenue stood still: adjusted EPS of $0.60 topped the $0.5899 consensus, and revenue of $5.70 billion was flat against the second quarter. The quality is mixed — GAAP profit fell to $0.50 a share on a $107 million severance charge, and free cash flow was only $156 million. Management's 2027 margin target is the real story.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.50 fell from $0.64 in the second quarter, mostly because of a $107 million severance charge tied to cutting global headcount. Adjusted EPS of $0.60 beat the $0.5899 consensus and rose from $0.55 last quarter, with adjusted net income of $501 million. The $84 million after-tax gap between GAAP and adjusted profit is the thing to watch: charges are recurring often enough to matter.
Revenue of $5.70 billion rose 1.8% from $5.60 billion a year earlier but was flat against the second quarter's $5.71 billion. The mix shifted: Drilling and Evaluation grew 4% sequentially to $2.61 billion while Completion and Production fell 4% to $3.09 billion. Management said revenue exceeded its own expectations, so the flat headline hides a geographic rotation toward the Middle East and Latin America.
Log in to read 35 analyses a week for free
Create a free account to read 35 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-23
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.