Halliburton Co 8-K, filed Oct 20, 2026

About this 8-K

Items reported

Halliburton Co (HAL)

8-K 2026-10-20 For: 2026-10-20

Added on October 20, 2026

Halliburton Co filed this 8-K on October 20, 2026.

Halliburton reported third-quarter 2026 revenue of $5.7 billion, net income of $417 million and $0.50 per diluted share, with a 10.9% operating margin and $156 million free cash flow. Management expects mid-single digit revenue growth and about 15% operating margins in 2027. AI summary

See Footnote Table 1 for details of the impairments and other (charges) credits recorded during the three and nine months
ended September 30, 2026 and 2025, and the three months ended June 30, 2026.

During the three and nine months ended September 30, 2025, Halliburton incurred a charge of $23 million due to the
impairment of an investment in Argentina.

During the three and nine months ended September 30, 2026 and the three months ended June 30, 2026, the income tax
provision includes the tax effect on impairments and other (charges) credits. The income tax provision during the three and
nine months ended September 30, 2025 includes a $125 million tax expense associated with a valuation allowance recorded
against our United States foreign tax credits, as well as the tax effect on impairments and other charges and the impairment
of an investment in Argentina.

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

See Footnote Table 2 for Reconciliation of Net Income Attributable to Company to Adjusted Net Income Attributable to Company.

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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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)


☐			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))


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


			HALLIBURTON COMPANY


Date:	October 20, 2026	By:	/s/ Stephanie S. Holzhauser
			Stephanie S. Holzhauser
			Senior Vice President and Chief
			Accounting Officer



(1)	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. See Reconciliation of Net Income Attributable to Company to Adjusted Net Income Attributable to Company in Footnote Table 2.

(2)	Adjusted operating margin is a non-GAAP financial measure which is calculated by dividing “Adjusted operating income” by “Total revenue.” Management believes adjusted operating margin is useful to investors to assess and understand operating performance. See Reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1.

(3)	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. See Reconciliation of Cash Flows from Operating Activities to Free Cash Flow in Footnote Table 3.

(4)	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 adjusted net income 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. See Reconciliation of Net Income Attributable to Company to Adjusted Net Income Attributable to Company in Footnote Table 2.


(5)	Adjusted EBITDA is a non-GAAP financial measure which is calculated as: “Net income,” before “Interest expense, net,” “Income tax provision,” “Depreciation, depletion, and amortization,” and excludes “Impairments and other charges (credits).” Management believes Adjusted EBITDA is a key measure to assess and understand operating performance and is consistent with the disclosures of Halliburton’s direct, large-cap competitors. See EBITDA, Adjusted EBITDA, Related Margins, and Reconciliations schedule.

(6)	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. See Reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1.


	Three Months Ended			Nine Months Ended
	September 30,		June 30,	September 30,
	2026	2025	2026	2026	2025
Revenue:
Completion and Production	$3,089	$3,223	$3,202	$9,307	$9,514
Drilling and Evaluation	2,614	2,377	2,512	7,512	7,013
Total revenue	$5,703	$5,600	$5,714	$16,819	$16,527
Operating income:
Completion and Production	$457	$514	$474	$1,370	$1,558
Drilling and Evaluation	391	348	338	1,080	1,012
Corporate and other	(75)	(64)	(83)	(227)	(196)
SAP S4 upgrade expense	(42)	(50)	(46)	(130)	(112)
Impairments and other (charges) credits (a)	(107)	(392)	95	(12)	(748)
Total operating income	624	356	778	2,081	1,514
Interest expense, net	(84)	(88)	(83)	(249)	(266)
Other, net (b)	(27)	(49)	(31)	(86)	(112)
Income before income taxes	513	219	664	1,746	1,136
Income tax provision (c)	(94)	(199)	(126)	(325)	(433)
Net income	$419	$20	$538	$1,421	$703
Net income attributable to noncontrolling interest	(2)	(2)	(4)	(9)	(9)
Net income attributable to company	$417	$18	$534	$1,412	$694

Basic and diluted net income per share	$0.50	$0.02	$0.64	$1.69	$0.81
Basic weighted average common shares outstanding	831	849	836	835	857
Diluted weighted average common shares outstanding	832	850	838	836	858


	September 30,	December 31,
	2026	2025
Assets
Current assets:
Cash and equivalents	$1,843	$2,206
Receivables, net	5,515	4,942
Inventories	3,265	2,976
Other current assets	1,517	1,274
Total current assets	12,140	11,398
Property, plant, and equipment, net	5,152	5,261
Goodwill	3,021	2,938
Deferred income taxes	2,377	2,298
Operating lease right-of-use assets	1,018	938
Other assets	2,365	2,177
Total assets	$26,073	$25,010
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$3,535	$3,133
Accrued employee compensation and benefits	788	767
Current portion of operating lease liabilities	276	263
Current maturities of long-term debt	90	—
Other current liabilities	1,323	1,425
Total current liabilities	6,012	5,588
Long-term debt	7,072	7,158
Operating lease liabilities	760	712
Employee compensation and benefits	431	428
Other liabilities	637	619
Total liabilities	14,912	14,505
Company shareholders’ equity	11,118	10,461
Noncontrolling interest in consolidated subsidiaries	43	44
Total shareholders’ equity	11,161	10,505
Total liabilities and shareholders’ equity	$26,073	$25,010


	Nine Months Ended		Three Months Ended
	September 30,		September 30,
	2026	2025	2026
Cash flows from operating activities:
Net income	$1,421	$703	$419
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation, depletion, and amortization	887	846	296
Impairments and other charges	12	748	107
Working capital (a)	(517)	(111)	(330)
Other operating activities	(338)	(425)	(124)
Total cash flows provided by operating activities	1,465	1,761	368
Cash flows from investing activities:
Capital expenditures	(693)	(917)	(266)
Purchases of investment securities	(111)	(128)	(18)
Payments to acquire businesses	(107)	(175)	—
Purchases of equity investments	(101)	(343)	—
Proceeds from sales of property, plant, and equipment	175	138	54
Sales of investment securities	65	228	16
Sale of an equity investment	50	120	50
Other investing activities	(48)	(49)	20
Total cash flows used in investing activities	(770)	(1,126)	(144)
Cash flows from financing activities:
Stock repurchase program	(558)	(757)	(250)
Dividends to shareholders	(426)	(436)	(141)
Other financing activities	(52)	(23)	(26)
Total cash flows used in financing activities	(1,036)	(1,216)	(417)
Effect of exchange rate changes on cash	(22)	(11)	(12)
Decrease in cash and equivalents	(363)	(592)	(205)
Cash and equivalents at beginning of period	2,206	2,618	2,048
Cash and equivalents at end of period	$1,843	$2,026	$1,843


(a)	Working capital includes receivables, inventories, and accounts payable.
See Footnote Table 3 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow.


(a)	Segment EBITDA and Segment EBITDA margin are non-GAAP financial measures. Segment EBITDA is calculated as segment “Operating income” plus “Depreciation, depletion, and amortization” for the respective periods. Segment EBITDA margin is calculated as “Segment EBITDA” divided by segment “Revenue”. Management believes Segment EBITDA and Segment EBITDA margin are key measures to assess and understand segment operating performance and are consistent with the disclosures of Halliburton’s direct, large-cap competitors.


(a)	During the three months ended September 30, 2026, Halliburton recognized a pre-tax charge of $107 million primarily related to $107 million of severance costs associated with the rationalization of our global headcount, and $25 million of inventory costs and write-downs, partially offset by a $36 million gain resulting from the sale of a portion of our shares in an equity investment. 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. During the three months ended September 30, 2025, Halliburton recognized a pre-tax charge of $392 million as a result of severance costs, fixed and other assets write-offs, an impairment of assets held for sale, and other items.
(b)	During the nine months ended September 30, 2026, Halliburton recognized a pre-tax charge of $12 million primarily related to $107 million of severance costs associated with the rationalization of our global headcount, partially offset by a $102 million gain primarily related to a $54 million gain resulting from changes in our ownership interest in an equity investment and a $36 million gain resulting from the sale of a portion of our shares in an equity investment. During the nine months ended September 30, 2025, Halliburton recognized a pre-tax charge of $748 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.


	Three Months Ended			Nine Months Ended
	September 30,		June 30,	September 30,
Revenue	2026	2025	2026	2026	2025
North America	$2,160	$2,364	$2,276	$6,572	$6,859
Latin America	1,122	996	1,123	3,335	2,869
Europe/Africa/CIS	1,016	828	1,017	2,891	2,423
Middle East/Asia	1,405	1,412	1,298	4,021	4,376
Total revenue	$5,703	$5,600	$5,714	$16,819	$16,527