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Halliburton Q1 Earnings Preview: Here's What You Should Know
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Key Takeaways
HAL reports Q1 results April 21; consensus calls for 49 cents EPS on $5.3B revenues.
HAL's Drilling & Evaluation tech, like LOGIX and iCruise, may lift segment revenue to $2.3B.
HAL's Completion & Production faces 7-9% sequential sales drop and 300 bps margin hit from Q4 roll-off.
Halliburton Company (HAL - Free Report) is set to release first-quarter results on April 21. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 49 cents per share on revenues of $5.3 billion.
Let’s delve into the factors that might have influenced the oilfield service firm’s performance in the March quarter. But it’s worth taking a look at HAL’s previous-quarter performance first.
Highlights of Q4 Earnings & Surprise History
In the last reported quarter, this Houston, TX-based provider of technical products and services to drillers of oil and gas wells beat the consensus mark, reflecting successful cost reduction initiatives. Halliburton reported adjusted net income per share of 69 cents, outperforming the Zacks Consensus Estimate of 54 cents. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 4.6%.
HAL beat the Zacks Consensus Estimate twice in the last four quarters and matched in the other two. This is depicted in the graph below:
The Zacks Consensus Estimate for the first-quarter bottom line has been revised 3.9% downward in the past seven days. The estimated figure indicates an 18.3% decline year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests a 2.4% decrease from the year-ago period.
Factors to Consider
Halliburton’s Drilling & Evaluation segment entered 2026 with strong technological momentum, which likely cushioned Q1’26 softness. Advanced platforms like LOGIX and iCruise continued to drive efficiency and precision, supporting activity even amid a lower rig count in North America. Notably, drilling services are expected to have grown due to demand for longer, complex wells and automation-led execution. According to the Zacks Consensus Estimate, the company’s first-quarter Drilling & Evaluation revenues will be $2.3 billion, slightly higher from the year-ago period.
A strong international mix — contributing more than 60% of revenues in Q4’25 — likely supported first-quarter earnings stability. Growth across regions like Europe/Africa and Latin America is being driven by well construction, wireline, and completion tool sales. Management expects 2026 international revenues to remain flat to modestly higher, aided by collaborative contracts, expansion in unconventionals (now in seven countries), and rising adoption of technologies like auto-frac and Sensori. This geographic diversification and steady international outlook likely offset North American softness early in 2026.
On a bearish note, Halliburton’s Completion & Production segment faced clear near-term headwinds heading into Q1’26. Management guided for a 7-9% sequential revenue decline and around a 300 basis points margin contraction, primarily due to a sharp roll-off in unusually strong Q4’25 completion tool sales. This was compounded by seasonal international weakness and lower stimulation activity, particularly in North America, where revenues are already under pressure. Additionally, subdued commodity pricing and reduced customer activity are expected to have pressured utilization and pricing, creating a challenging setup for the segment’s first-quarter earnings contribution. Consequently, the Zacks Consensus Estimate for the company’s first-quarter Completion & Production sales is pegged at $3 billion, down from $3.1 billion in the first quarter of 2025.
What Does Our Model Say?
The proven Zacks model does not conclusively predict an earnings beat for Halliburton for the first quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -3.29%.
Zacks Rank: HAL currently carries a Zacks Rank #3.
Stocks to Consider
While an earnings beat looks uncertain for Halliburton, here are some energy firms that you may want to consider on the basis of our model:
Patterson-UTI Energy (PTEN - Free Report) : It has an Earnings ESP of +11.11% and a Zacks Rank #1. Patterson-UTI Energy is scheduled to release earnings on April 22.
Patterson-UTI Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 43%. Valued at around $3.8 billion, it has gone up 71.5% in a year.
ConocoPhillips (COP - Free Report) : It has an Earnings ESP of +16.36% and a Zacks Rank #1. ConocoPhillips is scheduled to release earnings on April 30.
For 2026, ConocoPhillips has a projected earnings growth rate of 17.5%. Valued at around $145 billion, it has gained 36.7% in a year.
Valero Energy (VLO - Free Report) : It has an Earnings ESP of +3.48% and a Zacks Rank #3. Valero Energy is scheduled to release earnings on April 30.
For 2026, Valero Energy has a projected earnings growth rate of 73%. Valued at more than $70 billion, it has gained 119.6% in a year.
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Halliburton Q1 Earnings Preview: Here's What You Should Know
Key Takeaways
Halliburton Company (HAL - Free Report) is set to release first-quarter results on April 21. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 49 cents per share on revenues of $5.3 billion.
Let’s delve into the factors that might have influenced the oilfield service firm’s performance in the March quarter. But it’s worth taking a look at HAL’s previous-quarter performance first.
Highlights of Q4 Earnings & Surprise History
In the last reported quarter, this Houston, TX-based provider of technical products and services to drillers of oil and gas wells beat the consensus mark, reflecting successful cost reduction initiatives. Halliburton reported adjusted net income per share of 69 cents, outperforming the Zacks Consensus Estimate of 54 cents. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 4.6%.
HAL beat the Zacks Consensus Estimate twice in the last four quarters and matched in the other two. This is depicted in the graph below:
Halliburton Company Price and EPS Surprise
Halliburton Company price-eps-surprise | Halliburton Company Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for the first-quarter bottom line has been revised 3.9% downward in the past seven days. The estimated figure indicates an 18.3% decline year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests a 2.4% decrease from the year-ago period.
Factors to Consider
Halliburton’s Drilling & Evaluation segment entered 2026 with strong technological momentum, which likely cushioned Q1’26 softness. Advanced platforms like LOGIX and iCruise continued to drive efficiency and precision, supporting activity even amid a lower rig count in North America. Notably, drilling services are expected to have grown due to demand for longer, complex wells and automation-led execution. According to the Zacks Consensus Estimate, the company’s first-quarter Drilling & Evaluation revenues will be $2.3 billion, slightly higher from the year-ago period.
A strong international mix — contributing more than 60% of revenues in Q4’25 — likely supported first-quarter earnings stability. Growth across regions like Europe/Africa and Latin America is being driven by well construction, wireline, and completion tool sales. Management expects 2026 international revenues to remain flat to modestly higher, aided by collaborative contracts, expansion in unconventionals (now in seven countries), and rising adoption of technologies like auto-frac and Sensori. This geographic diversification and steady international outlook likely offset North American softness early in 2026.
On a bearish note, Halliburton’s Completion & Production segment faced clear near-term headwinds heading into Q1’26. Management guided for a 7-9% sequential revenue decline and around a 300 basis points margin contraction, primarily due to a sharp roll-off in unusually strong Q4’25 completion tool sales. This was compounded by seasonal international weakness and lower stimulation activity, particularly in North America, where revenues are already under pressure. Additionally, subdued commodity pricing and reduced customer activity are expected to have pressured utilization and pricing, creating a challenging setup for the segment’s first-quarter earnings contribution. Consequently, the Zacks Consensus Estimate for the company’s first-quarter Completion & Production sales is pegged at $3 billion, down from $3.1 billion in the first quarter of 2025.
What Does Our Model Say?
The proven Zacks model does not conclusively predict an earnings beat for Halliburton for the first quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -3.29%.
Zacks Rank: HAL currently carries a Zacks Rank #3.
Stocks to Consider
While an earnings beat looks uncertain for Halliburton, here are some energy firms that you may want to consider on the basis of our model:
Patterson-UTI Energy (PTEN - Free Report) : It has an Earnings ESP of +11.11% and a Zacks Rank #1. Patterson-UTI Energy is scheduled to release earnings on April 22.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Patterson-UTI Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 43%. Valued at around $3.8 billion, it has gone up 71.5% in a year.
ConocoPhillips (COP - Free Report) : It has an Earnings ESP of +16.36% and a Zacks Rank #1. ConocoPhillips is scheduled to release earnings on April 30.
For 2026, ConocoPhillips has a projected earnings growth rate of 17.5%. Valued at around $145 billion, it has gained 36.7% in a year.
Valero Energy (VLO - Free Report) : It has an Earnings ESP of +3.48% and a Zacks Rank #3. Valero Energy is scheduled to release earnings on April 30.
For 2026, Valero Energy has a projected earnings growth rate of 73%. Valued at more than $70 billion, it has gained 119.6% in a year.