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Sentiment · FY2026 Q1
A pre-earnings brief is ready for HAL: the setup, what peers and partners said this season, and which analysts to watch. Reading it is a Tellvest Pro feature.
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we've always been big fans of the Halliburton, Zeus E-fleets. We run four of those today.”
Halliburton is a core completions service provider for Diamondback, with the company running four Halliburton Zeus electric frac fleets and describing the relationship favorably.
“In Q4, we spent $42 million on SAP Sfour migration, which is included in our results.”
Halliburton is running a large SAP S/4 ERP migration, spending roughly $45M/quarter through 2026 with about $100M/year of expected savings.
“During the quarter, Halliburton and VoltaGrid secured manufacturing capacity for 400 megawatts of modular power systems.”
Halliburton's power partnership with VoltaGrid is scaling internationally, together securing 400 MW of modular power manufacturing capacity.
“We had none when we acquired Summit.”
Halliburton's acquisition of Summit ESP gave it an international artificial-lift footprint it previously lacked.
“you've seen the acquisition of Optime, which is playing a more and more meaningful role”
Halliburton's acquisition of Optime (subsea intervention) is contributing increasingly to its well-intervention growth engine.
“I think there was a press release just last night or yesterday around application of that in the North Sea with Aker BP”
Halliburton cited a North Sea application of its Optime intervention technology with Aker BP, an active offshore customer.
“We've got a strong position there, both with IOC work and with Petrobras.”
Halliburton described a strong position in Brazil serving both IOCs and Petrobras amid cost-reduction discussions in the market.
“Last week, VoltaGrid announced an agreement to deploy 2.3 gigawatts of generation capacity to support Oracle's next-generation artificial intelligence data centers.”
VoltaGrid (20% owned by HAL) will supply 2.3 GW of generation to Oracle's next-generation AI data centers, a read-through on Oracle's large-scale AI infrastructure buildout.
“I am also pleased to announce that we have signed an agreement with VoltaGrid to be their international partner for delivering distributed power solutions for data centers outside of North America.”
Halliburton signed an agreement to be VoltaGrid's international partner delivering distributed power to data centers outside North America.
“Halliburton owns approximately 20% of VoltaGrid on a fully diluted basis.”
Halliburton disclosed a roughly 20% equity stake in distributed-power provider VoltaGrid, an investment in behind-the-meter power generation.
“in Colombia, Ecopetrol awarded Halliburton ESP contracts in 9 of 11 fields”
Ecopetrol awarded Halliburton ESP contracts across 9 of 11 fields in Colombia, indicating active Ecopetrol production spend.
“Kuwait Oil Company named Halliburton Service Partner of the Year and awarded Halliburton a multiyear ESP contract, which further strengthens our position in Kuwait.”
Kuwait Oil Company awarded Halliburton a multiyear artificial-lift contract and a partner-of-the-year recognition.
“we won a major 5-year contract from ConocoPhillips in the North Sea”
Halliburton won a major 5-year production-services contract with ConocoPhillips in the North Sea, reflecting continued COP offshore activity.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Saurabh Pant | Bank of America | 12 (0%) |
| Arun Jayaram | JPMorgan | 12 (0%) |
| Steve Gengaro | Stifel | 12 (17%) |
| David Anderson | Barclays | 12 (8%) |
| Neil Mehta | Goldman Sachs | 10 (10%) |
| Scott Gruber | Citigroup | 10 (10%) |
| Derek Podhaizer | Piper Sandler | 8 (0%) |
| Marc Bianchi | TD Cowen | 8 (38%) |
| Douglas Becker | Capital One Securities | 7 (0%) |
| Jim West | Melius Research | 6 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 12 (0%) |
| Barclays | 1 | 12 (8%) |
| JPMorgan | 1 | 12 (0%) |
| Stifel | 1 |
Halliburton closed fiscal 2025 with Q4 revenue of $5.3 billion, down 5% year-over-year, as North America declined 10% on seasonal slowdowns and fleet stacking while international markets showed early stabilization signs. Adjusted EPS of $0.55 was down 21% year-over-year, but free cash flow reached $780 million as working capital improved and capital discipline held. Management introduced 2026 guidance expecting flat-to-modest international growth and continued North America restructuring, with the Zeus platform now representing over 30% of the fleet.
Demand | Geographic Expansion | Competitive Dynamics | Innovation & R&D | Margin | Pricing | Cloud & AI | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 3 | 2 | 7 | 3 | 4 | 2 | |
| 2025Q1 | 7 | 5 | 4 | 4 | 5 | 2 | 1 | 3 |
| 2025Q2 | 7 | 5 | 4 | 2 | 6 | 4 | 3 | |
| 2025Q3 | 8 | 7 | 7 | 5 | 1 | 1 | 7 | 2 |
| 2025Q4 | 9 | 6 | 4 | 3 | 3 | 2 | 3 | 2 |
| 2026Q1 | 11 | 8 | 4 | 3 | 1 | 3 | 2 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 7 | 7 | 8 | 9 | 11 |
| Geographic Expansion | 3 | 5 | 5 | 7 | 6 | 8 |
| Competitive Dynamics | 2 | 4 | 4 | 7 | 4 | 4 |
| Innovation & R&D | 7 | 4 | 2 | 5 | 3 | 3 |
| Margin | 3 | 5 | 6 | 1 | 3 | 1 |
| Pricing | 4 | 2 | 4 | 1 | 2 | 3 |
| Cloud & AI | 2 | 1 | 7 | 3 | 2 | |
| Macroeconomic | 3 | 3 | 2 | 2 | 3 |
| 12 (17%) |
| Goldman Sachs | 1 | 10 (10%) |
| Citigroup | 1 | 10 (10%) |
| Piper Sandler | 1 | 8 (0%) |
| TD Cowen | 1 | 8 (38%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HAL Halliburton | 4 | -0.3% | |
| BKR Baker Hughes | 6 | +2.5% | |
| SLB Schlumberger | 2 | +2.7% |