Halliburton earnings date and guidance
MyStockButler's October 2026 analysis: The next results are expected on January 20, 2027. Watch whether promised profit recovery becomes reliable cash while North American stimulation remains weak.
What has Halliburton guided for 2027 and 2026?
Halliburton guided to mid-single-digit revenue growth in 2027. It targets operating margins of about 15.0%, an improvement of 200 basis points, or two percentage points. An operating margin is the share of sales left after operating costs.
Halliburton also guided to $1,100 million of capital spending for 2026 and a 50.0% annual free-cash-flow return to shareholders through dividends and buybacks. Because the return is a percentage of cash generated, it rises and falls with the business.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Capital spending | Year to Dec 2026 | 1,100 | 1,100 | Jul 24, 2026 |
| Annual free cash flow returned to shareholders | Year to Dec 2026 | 50.0% | Jul 24, 2026 | |
| Operating margins | Year to Dec 2027 | 15.0% | 15.0% | Oct 20, 2026 |
| Operating margin improvement (basis points) | Year to Dec 2027 | 200 | 200 | Oct 20, 2026 |
| Revenue growth | Year to Dec 2027 | Oct 20, 2026 |
What this means. A basis point is one hundredth of a percentage point, so 200 basis points means a two percentage point improvement.
Has Halliburton kept its cash-return promise?
Halliburton’s framework promises to return at least half of annual free cash flow through dividends and repurchases. In 2025, it returned US$1.6 billion, and the company repeated the commitment in its 2026 investor presentation. That promise was kept, but distribution and investment performance are different tests.
What do Halliburton's last eight quarters show?
Halliburton also began from a position of modest delivery strength. Adjusted third-quarter 2026 earnings were $0.60 per share, versus roughly $0.58 expected. Revenue was $5.70 billion, above approximately $5.58 billion expected. Adjusted earnings exclude specified items, so they must be compared with adjusted forecasts. Five of the last eight reported quarters were earnings beats.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,703 | 5,714 | 5,402 | 5,657 | 5,600 | 5,510 | 5,417 | 5,610 |
| Operating income | 624 | 778 | 679 | 746 | 356 | 727 | 431 | 932 |
| Net income | 417 | 534 | 461 | 589 | 18 | 472 | 204 | 615 |
| EPS, diluted | 0.50 | 0.64 | 0.55 | 0.70 | 0.02 | 0.55 | 0.24 | 0.70 |
| Cash from operations | 368 | 824 | 273 | 1,165 | 488 | 896 | 377 | 1,456 |
| = Free cash flow | 102 | 589 | 81 | 828 | 227 | 542 | 75 | 1,030 |
What should I watch in Halliburton's next results?
The immediate issue is working capital: cash tied up between doing a job and collecting payment. Management attributed weak third-quarter cash conversion to slower collections and inventory accumulated for projects, SAP implementation, and logistics. It said collections improved in October and expected approximately $1 billion of fourth-quarter operating cash flow. After about $300 million of capex net of equipment sales, that implies roughly $700 million of free cash flow.