Halliburton reported FY2025 revenue of $22.2 billion and Q1 2026 revenue of $5.4 billion. The thesis turns on drilling activity, international/offshore work, North America pressure, service pricing, capex and cash conversion.
HAL: Oilfield service cash flow still has to outrun the activity cycle
NYSEHALCoverage BootstrapHalliburton Company
Thesis summary
Halliburton reported FY2025 revenue of $22.2 billion and Q1 2026 revenue of $5.4 billion. The thesis turns on drilling activity, international/offshore work, North America pressure, service pricing, capex and cash conversion.
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