US Market News
2週前
Greenland Energy Company (NASDAQ: GLND) Announces Haliburton Agreement and Updates Progress on 2026 Greenland Exploration ProgramJune 9, 2026 7:00 AM
PR Newswire (US) DENVER, June 9, 2026 /PRNewswire/ -- Greenland Energy Company (NASDAQ: GLND) ("the Company" or "Greenland Energy"), an oil exploration company focused on East Greenland's Jameson Land Basin, today announced via a shareholder letter operational and strategic updates following its recent public listing, including a services agreement with Halliburton and updates on its 2026 exploration program.Dear Valued Shareholders,As we reach the midpoint of 2026, I am pleased to provide an update on our progress over the past six months. Since completing our business combination and commencing trading on NASDAQ in late March 2026, we have made progress towards the goal of positioning the Company as a leader in frontier oil exploration in Greenland's Jameson Land Basin.Key Accomplishments (March–May 2026)Successful NASDAQ Listing and Capital Raise: We completed our business combination with Pelican Acquisition Corporation and related entities, transitioning to public trading under the ticker: GLND. Shortly thereafter, we closed a public offering that raised approximately $70 million in gross proceeds. These funds are directly supporting our exploration program, including procurement of long-lead items and field operations.Strategic Partnerships for Execution: We secured key agreements with industry leaders:A five-year drilling agreement with Stampede Drilling for Rig #12, a rig equipped for Arctic conditions, to support our 2026 campaign.An agreement with Halliburton (NYSE: HAL) for integrated consulting, logistics, and comprehensive well and drilling services.Collaboration with IPT Well Solutions and other service providers to support our drilling and completion activities.Operational Mobilization: We advanced field readiness in East Greenland, including approvals for mobilizing heavy equipment (bulldozers, trucks, excavators, generators, and housing). We also progressed procurement, infrastructure planning, and logistics for our onshore program.Enhanced Visibility and Strategy: We rang the Nasdaq Opening Bell in early April, highlighting our Arctic opportunity. We released an updated investor presentation detailing our strategy, partnerships, and potential.These steps have strengthened our foundation as an early-stage oil and gas exploration company focused on responsibly exploring the Jameson Land Basin's hydrocarbon potential.Future Milestones and OutlookLooking ahead, we remain focused on executing our exploration program. Key upcoming milestones include:Meeting with the community in Ittoqqortoormiit as part of the process of community engagement and feedback this weekProcurement and Field Readiness: Continued advancement of casing, tubing, mill capacity for long-lead materials, road/pad construction planning, and equipment mobilization throughout 2026.Drilling Campaign: Targeting the commencement of our first modern onshore drilling operations in the October 2026 window, beginning with the OPW-1 and OPW-6 exploration wells (approximately 3,500 meters each). Successful completion of these wells would allow us to earn up to a 70% working interest in the license area.Resource Potential: We are targeting multiple large structures in a basin with independent estimates of up to ~13.0 billion barrels of gross un-risked prospective oil resources, supported by historical seismic data and over $275 million in prior industry investment (inflation-adjusted).Our team is focused on disciplined capital allocation, environmental stewardship, and seeking to create long-term shareholder value through responsible resource exploration in a strategically important region. appreciate your continued support and confidence in Greenland Energy Company. We look forward to sharing further updates as we progress toward our drilling objectives.Sincerely,
Robert Price
Chief Executive OfficerAbout Greenland Energy CompanyGreenland Energy Company is an exploration-stage oil and gas company focused on responsibly exploring and seeking to develop Greenland's hydrocarbon resources, with an emphasis on the Jameson Land Basin in East Greenland. The Company's primary mission is to unlock the frontier hydrocarbon potential of the Jameson Land Basin, an approximately 2-million-acre onshore licensed area, through the application of modern exploration technologies. The Company is preparing to execute the first modern onshore drilling campaign in the region, currently planned for 2026.For more information, please visit www.GreenlandEnergyCo.comForward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of present or historical fact, including statements regarding Greenland Energy Company's future financial performance, business strategy, operations, financial position, projected costs, prospects, plans, management objectives, expected benefits of the Company's recent business combination, exploration plans, drilling activities, timing, capital needs, financing plans, regulatory approvals, prospective resources, earn-in rights, license matters, strategic partnerships, field-readiness activities, infrastructure mobilization and planned OPW-1 and OPW-6 activities, are forward-looking statements.Forward-looking statements are generally identified by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "potential," "predict," "target" or similar expressions, although not all forward-looking statements contain such identifying words. These statements are based on management's current expectations, assumptions and beliefs, are not guarantees of future performance and involve risks and uncertainties, many of which are difficult to predict and beyond the Company's control, that could cause actual results to differ materially.Factors that could cause actual results to differ materially include, among others, exploration and geological risks, including the Company's development-stage status, limited operating history, lack of revenues or proved reserves, uncertainty in prospective resource estimates, limited seismic data, geological complexity, lack of prior commercial discovery in the basin and high-cost frontier exploration; operational and environmental risks, including remote Arctic operations, extreme weather, limited infrastructure, seasonal access windows, drilling hazards, environmental releases, climate change scrutiny and reliance on third-party contractors; regulatory and political risks, including drilling restrictions, grandfathered license limitations, permitting requirements, geopolitical developments and potential forfeiture of working-interest rights if drilling milestones are not met; and financial and capital risks, including significant capital needs, commodity price volatility, long development timelines, going-concern uncertainty, energy transition risks, public company compliance costs, Nasdaq listing requirements and trading-price volatility. Investors should review the Company's SEC filings, including its Proxy Statement/Prospectus dated February 18, 2026, its most recent Form 10-Q and subsequent filings, for a more complete discussion of risks and uncertainties.This press release includes references to prospective resources, exploration targets, operational milestones, timing expectations, industry data and other estimates and assumptions, including references to prospective recoverable resources, exploration prospects and planned OPW-1 and OPW-6 activities. Prospective resources are inherently uncertain, have not been confirmed by drilling, do not constitute proved reserves and are not a guarantee of commercial discovery, production, revenue, cash flow or economic return. Industry and third-party data are provided for informational purposes only, and no representation is made as to their accuracy or completeness.To the extent this press release includes non-GAAP financial measures or financial, operating or technical metrics, such measures are provided for supplemental informational purposes only and should not be considered in isolation from, or as a substitute for, GAAP financial information or the relevant definitions, assumptions and limitations.This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy or a recommendation to purchase or sell any securities. Any securities offering, if made, will be made only pursuant to definitive offering documents and applicable securities laws. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.CONTACT: contact@greenlandenergyco.com View original content:https://www.prnewswire.com/news-releases/greenland-energy-company-nasdaq-glnd-announces-haliburton-agreement-and-updates-progress-on-2026-greenland-exploration-program-302794801.htmlSOURCE Greenland Energy Company Original: Greenland Energy Company (NASDAQ: GLND) Announces Haliburton Agreement and Updates Progress on 2026 Greenland Exploration Program
US Market News
2月前
Halliburton Announces First Quarter 2026 ResultsApril 21, 2026 6:45 AM
Business Wire
Net income of $0.55 per diluted share.
Revenue of $5.4 billion and operating margin of 13%.
Cash flow from operations of $273 million and free cash flow1 of $123 million.
Approximately $100 million of share repurchases.
Halliburton Company (NYSE: HAL) announced today net income of $461 million, or $0.55 per diluted share, for the first quarter of 2026. This compares to net income for the first quarter of 2025 of $204 million, or $0.24 per diluted share, and adjusted net income2, excluding impairments and other charges, of $517 million, or $0.60 per diluted share, in the first quarter of 2025. Halliburton’s total revenue for the first quarter of 2026 was $5.4 billion, flat when compared to the first quarter of 2025. Operating income was $679 million in the first quarter of 2026, compared to operating income of $431 million in the first quarter of 2025, and adjusted operating income3, excluding impairments and other charges, of $787 million in the first quarter of 2025.
“I am pleased with Halliburton’s performance this quarter,” commented Jeff Miller, Chairman, President and CEO.
“In North America, I see clear signs that we are in the early innings of a recovery.
“In international markets, our performance around the world outpaced disruptions from the Middle East conflict.
“I expect that our consistent focus on returns and capital discipline will drive long-term success for Halliburton and its shareholders,” concluded Miller.
Operating Segments
Completion and Production
Completion and Production revenue in the first quarter of 2026 was $3.0 billion, a decrease of $104 million, or 3%, when compared to the first quarter of 2025, while operating income was $439 million, a decrease of $92 million, or 17%, when compared to first quarter of 2025. These results were primarily driven by lower stimulation activity in North America, and lower completion tool sales and decreased pressure pumping services in the Middle East. Partially offsetting these decreases were higher completion tool sales in the Western Hemisphere, and improved pressure pumping services in Africa.
Drilling and Evaluation
Drilling and Evaluation revenue in the first quarter of 2026 was $2.4 billion, an increase of $89 million, or 4%, when compared to the first quarter of 2025, while operating income was $351 million, flat when compared to the first quarter of 2025. These results were primarily driven by higher project management activity in Latin America and increased drilling-related services in Europe and the Western Hemisphere. Partially offsetting these increases were lower activity across multiple product service lines in the Middle East, lower wireline activity in the Eastern Hemisphere, and decreased fluid services in the Gulf of America.
In the first quarter of 2026, the geopolitical conflict in the Middle East affected both divisions, with an impact of approximately 2 to 3 cents of net income per diluted share.
Geographic Regions
North America
North America revenue in the first quarter of 2026 was $2.1 billion, a 4% decrease when compared to the first quarter of 2025. This decline was primarily driven by lower stimulation activity and decreased artificial lift activity in US Land, and lower stimulation activity and decreased fluid services in the Gulf of America. Partially offsetting these decreases were increased drilling-related services in US Land and higher completion tool sales in the region.
International
International revenue in the first quarter of 2026 was $3.3 billion, an increase of 3% when compared to the first quarter of 2025.
Latin America revenue in the first quarter of 2026 was $1.1 billion, an increase of 22% year over year. This increase was primarily driven by higher activity across multiple product service lines in Ecuador, the Caribbean, and Brazil, and improved stimulation activity in Mexico and Argentina. Partially offsetting these increases were lower project management activity and decreased drilling-related services in Mexico.
Europe/Africa revenue in the first quarter of 2026 was $858 million, an increase of 11% year over year. This increase was primarily driven by increased drilling-related services and higher completion tool sales in Norway, and improved pressure pumping services in Angola. Partially offsetting these increases were lower completion tool sales in the Caspian Area and decreased drilling-related services in Namibia.
Middle East/Asia revenue in the first quarter of 2026 was $1.3 billion, a decrease of 13% year over year. This decrease was primarily driven by lower activity across multiple product service lines in Saudi Arabia and decreased drilling-related services in Qatar. Partially offsetting these decreases were higher completion tool sales and improved fluid services in Asia.
Other Financial Items
During the first quarter of 2026, Halliburton:
Repurchased approximately $100 million of its common stock.
Paid dividends of $0.17 per share.
Spent $42 million on SAP S4 migration.
Selective Technology & Highlights
Halliburton launched the HyperSteer™ MX directional drill bit, an industry-first shankless matrix-body bit that improves durability and maximizes directional control. The bit delivers longer runs and fewer trips, resists erosion and abrasion, and performs reliably in high-flow, abrasive environments. HyperSteer™ MX directional drill bits utilize advanced matrix materials to resist erosion and abrasion, extend bit life in abrasive, high-flow environments, and improve efficiency and reliability during operations.
Halliburton and the Agency for Science, Technology and Research (A*STAR), Singapore's lead public sector research and development agency, announced the launch of the Next-Generation Energy Xccelerator Joint Lab. This initiative aims to accelerate the development and commercialization of advanced well completion technologies for the energy industry. The project is also supported by the Singapore Economic Development Board.
Halliburton launched the XTR™ CS injection system, a wireline-retrievable safety valve solution engineered for CO2 injection in carbon capture, utilization, and storage wells. The system provides flexibility as a primary or contingency safety valve or as a deep-set reservoir fluid-flowback prevention device. Unlike traditional surface-controlled wireline valves, the XTR injection system’s non-elastomeric design helps minimize leak paths and eliminate reliance on hydraulic operation systems. This system remains at steady performance at any setting depth, to simplify operations and inventory management.
Halliburton launched the RangeStar™ Geothermal Well Spacing and Intercept Service, a part of the family of RangeStar™ magnetic ranging services, a next-generation solution that supports geothermal development through faster, more accurate, and fully integrated well placement. Designed for complex geothermal environments, the RangeStar Geothermal Well Spacing and Intercept Service delivers reliable performance that reduces uncertainty and simplifies operations. Rapid ranging determination reduces decision time from hours to minutes, supports detection distances up to 130 meters, and improves accuracy within formations and depths.
Halliburton, in collaboration with ExxonMobil Guyana, Sekal, and Noble, delivered a groundbreaking step forward in digital well construction to achieve the deepwater industry’s first fully automated geological well placement with complete rig automation in offshore Guyana. The project combined rig automation, automated subsurface interpretation and well placement, and real-time hydraulics to establish a new benchmark for well construction performance, reservoir contact, and execution efficiency.
(1)
Free cash flow is a non-GAAP financial measure; please see reconciliation of Cash Flows from Operating Activities to Free Cash Flow in Footnote Table 3.
(2)
Adjusted net income is a non-GAAP financial measure; please see reconciliation of Net Income to Adjusted Net Income in Footnote Table 2.
(3)
Adjusted operating income is a non-GAAP financial measure; please see reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1.
About Halliburton
Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram and Facebook.
Forward-looking Statements
The statements in this press release that are not historical statements are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: changes in the demand for or price of oil and/or natural gas, including as a result of development of alternative energy sources, general economic conditions such as inflation and recession, the ability of the OPEC+ countries to agree on and comply with production quotas, and other causes; changes in capital spending by our customers; the modification, continuation or suspension of our shareholder return framework, including the payment of dividends and purchases of our stock, which will be subject to the discretion of our Board of Directors and may depend on a variety of factors, including our results of operations and financial condition, growth plans, capital requirements and other conditions existing when any payment or purchase decision is made; potential catastrophic events related to our operations, and related indemnification and insurance; protection of intellectual property rights; cyber-attacks and data security; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to oil and natural gas exploration, the environment, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; assumptions regarding the generation of future taxable income, and compliance with laws related to and disputes with taxing authorities regarding income taxes; risks of international operations, including risks relating to unsettled political conditions, war, including the current conflict in Iran, the effects of terrorism, foreign exchange rates and controls, international trade and regulatory controls, tariffs, and sanctions, and doing business with national oil companies; weather-related issues, including the effects of hurricanes and tropical storms; delays or failures by customers to make payments owed to us; infrastructure issues in the oil and natural gas industry; availability and cost of highly skilled labor and raw materials; completion of potential dispositions, and acquisitions, and integration and success of acquired businesses and joint ventures. Halliburton's Form 10-K for the year ended December 31, 2025, Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.
HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Millions of dollars and shares except per share data)
(Unaudited)
Three Months Ended
March 31,
December 31,
2026
2025
2025
Revenue:
Completion and Production
$
3,016
$
3,120
$
3,268
Drilling and Evaluation
2,386
2,297
2,389
Total revenue
$
5,402
$
5,417
$
5,657
Operating income:
Completion and Production
$
439
$
531
$
570
Drilling and Evaluation
351
352
367
Corporate and other
(69
)
(66
)
(66
)
SAP S4 upgrade expense
(42
)
(30
)
(42
)
Impairments and other charges (a)
—
(356
)
(83
)
Total operating income
679
431
746
Interest expense, net
(82
)
(86
)
(86
)
Other, net
(28
)
(39
)
(25
)
Income before income taxes
569
306
635
Income tax provision (b)
(105
)
(103
)
(46
)
Net income
$
464
$
203
$
589
Net (income) loss attributable to noncontrolling interest
(3
)
1
—
Net income attributable to Company
$
461
$
204
$
589
Basic and diluted net income per share
$
0.55
$
0.24
$
0.70
Basic weighted average common shares outstanding
837
866
839
Diluted weighted average common shares outstanding
839
866
840
(a)
See Footnote Table 1 for details of the impairments and other charges recorded during the three months ended March 31, 2025 and December 31, 2025.
(b)
The income tax provision during the three months ended March 31, 2026 includes a $32 million tax benefit associated with a valuation allowance release. The income tax provision during the three months ended March 31, 2025 includes a tax effect on impairments and other charges. The income tax provision during the three months ended December 31, 2025 includes an $86 million discrete tax benefit from the Foreign-Derived Intangible Income (FDII) deduction attributable to a royalty prepayment, as well as the tax effect on impairments and other charges.
See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.
See Footnote Table 2 for Reconciliation of Net Income to Adjusted Net Income.
HALLIBURTON COMPANY
Condensed Consolidated Balance Sheets
(Millions of dollars)
(Unaudited)
March 31,
December 31,
2026
2025
Assets
Current assets:
Cash and equivalents
$
2,003
$
2,206
Receivables, net
5,197
4,942
Inventories
3,019
2,976
Other current assets
1,316
1,274
Total current assets
11,535
11,398
Property, plant, and equipment, net
5,182
5,261
Goodwill
2,992
2,938
Deferred income taxes
2,339
2,298
Operating lease right-of-use assets
895
938
Other assets
2,199
2,177
Total assets
$
25,142
$
25,010
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
$
3,211
$
3,133
Accrued employee compensation and benefits
622
767
Current portion of operating lease liabilities
243
263
Current maturities of long-term debt
90
—
Other current liabilities
1,371
1,425
Total current liabilities
5,537
5,588
Long-term debt
7,070
7,158
Operating lease liabilities
678
712
Employee compensation and benefits
395
428
Other liabilities
637
619
Total liabilities
14,317
14,505
Company shareholders’ equity
10,780
10,461
Noncontrolling interest in consolidated subsidiaries
45
44
Total shareholders’ equity
10,825
10,505
Total liabilities and shareholders’ equity
$
25,142
$
25,010
HALLIBURTON COMPANY
Condensed Consolidated Statements of Cash Flows
(Millions of dollars)
(Unaudited)
Three Months Ended
March 31,
2026
2025
Cash flows from operating activities:
Net income
$
464
$
203
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation, depletion, and amortization
295
277
Impairments and other charges
—
356
Working capital (a)
(252
)
(154
)
Other operating activities
(234
)
(305
)
Total cash flows provided by operating activities
273
377
Cash flows from investing activities:
Capital expenditures
(192
)
(302
)
Payments to acquire businesses
(97
)
(116
)
Purchases of marketable securities
(2
)
(96
)
Proceeds from sales of property, plant, and equipment
42
49
Sales of marketable securities
27
41
Purchase of an equity investment
—
(345
)
Other investing activities
(21
)
(15
)
Total cash flows used in investing activities
(243
)
(784
)
Cash flows from financing activities:
Dividends to shareholders
(142
)
(147
)
Stock repurchase program
(100
)
(250
)
Other financing activities
5
(9
)
Total cash flows used in financing activities
(237
)
(406
)
Effect of exchange rate changes on cash
4
(1
)
Decrease in cash and equivalents
(203
)
(814
)
Cash and equivalents at beginning of period
2,206
2,618
Cash and equivalents at end of period
$
2,003
$
1,804
(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.
HALLIBURTON COMPANY
Revenue and Operating Income Comparison
By Operating Segment and Geographic Region
(Millions of dollars)
(Unaudited)
Three Months Ended
March 31,
December 31,
Revenue
2026
2025
2025
By operating segment:
Completion and Production
$
3,016
$
3,120
$
3,268
Drilling and Evaluation
2,386
2,297
2,389
Total revenue
$
5,402
$
5,417
$
5,657
By geographic region:
North America
$
2,136
$
2,236
$
2,207
Latin America
1,090
896
1,066
Europe/Africa/CIS
858
775
928
Middle East/Asia
1,318
1,510
1,456
Total revenue
$
5,402
$
5,417
$
5,657
Operating Income
By operating segment:
Completion and Production
$
439
$
531
$
570
Drilling and Evaluation
351
352
367
Total operations
790
883
937
Corporate and other
(69
)
(66
)
(66
)
SAP S4 upgrade expense
(42
)
(30
)
(42
)
Impairments and other charges
—
(356
)
(83
)
Total operating income
$
679
$
431
$
746
See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.
FOOTNOTE TABLE 1
HALLIBURTON COMPANY
Reconciliation of Operating Income to Adjusted Operating Income
(Millions of dollars)
(Unaudited)
Three Months Ended
March 31,
December 31,
2026
2025
2025
Operating income
$
679
$
431
$
746
Impairments and other charges:
Severance costs
—
107
23
Impairment of assets held for sale
—
104
24
Impairment of real estate facilities
—
53
—
Equity in earnings loss
—
—
50
Other
—
92
(14
)
Total impairments and other charges (a)
—
356
83
Adjusted operating income (b) (c)
$
679
$
787
$
829
(a)
During the three months ended March 31, 2025, Halliburton recognized a pre-tax charge of $356 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. During the three months ended December 31, 2025, Halliburton recognized a pre-tax charge of $83 million as a result of an equity in earnings loss, an impairment of assets held for sale, severance costs, and other items.
(b)
Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total impairments and other charges” for the respective periods. Management believes that operating income adjusted for impairments and other charges 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.
(c)
We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating margin is useful to investors to assess and understand operating performance.
FOOTNOTE TABLE 2
HALLIBURTON COMPANY
Reconciliation of Net Income to Adjusted Net Income
(Millions of dollars and shares except per share data)
(Unaudited)
Three Months Ended
March 31,
December 31,
2026
2025
2025
Net income attributable to company
$
461
$
204
$
589
Adjustments:
Impairments and other charges (a)
—
356
83
Total adjustments, before taxes
—
356
83
Tax benefit from prepayment (b)
—
—
(86
)
Tax adjustment (b)
—
(43
)
(10
)
Total adjustments, net of taxes (c)
—
313
(13
)
Adjusted net income attributable to company (c)
$
461
$
517
$
576
Diluted weighted average common shares outstanding
839
866
840
Net income per diluted share (d)
$
0.55
$
0.24
$
0.70
Adjusted net income per diluted share (d)
$
0.55
$
0.60
$
0.69
(a)
See Footnote Table 1 for details of the impairments and other charges recorded during the three months ended March 31, 2025 and December 31, 2025.
(b)
During the three months ended March 31, 2025, the tax adjustment includes the effect on impairments and other charges. During the three months ended December 31, 2025, the adjustments include an $86 million discrete tax benefit from the FDII deduction attributable to a royalty prepayment as well as the tax effect on impairments and other charges.
(c)
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 net income adjusted for impairments and other charges, along with the tax adjustments 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.
(d)
Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average common shares outstanding.” 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.
FOOTNOTE TABLE 3
HALLIBURTON COMPANY
Reconciliation of Cash Flows from Operating Activities to Free Cash Flow
(Millions of dollars)
(Unaudited)
Three Months Ended
March 31,
December 31,
2026
2025
2025
Total cash flows provided by operating activities
$
273
$
377
$
1,165
Capital expenditures
(192
)
(302
)
(337
)
Proceeds from sales of property, plant, and equipment
42
49
47
Free cash flow (a)
$
123
$
124
$
875
(a)
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.
Conference Call Details
Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, April 21, 2026, to discuss its first quarter 2026 financial results. The call will begin at 8:00 a.m. CT (9:00 a.m. ET).
Please visit the Halliburton website to listen to the call via live webcast. A recorded version will be available for seven days under the same link immediately following the conclusion of the conference call. You can also pre-register for the conference call and obtain your dial in number and passcode by clicking here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260421419280/en/
Investor Relations Contact
David Coleman
Investors@Halliburton.com
281-871-2688
Media Relations
Alexandra Franceschi
PR@Halliburton.com
281-871-2601
Original: Halliburton Announces First Quarter 2026 Results
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