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In the first quarter of 2026, Halliburton Company reported revenue of US$5,402 million and net income of US$461 million, with basic and diluted earnings per share from continuing operations of US$0.55, while also repurchasing about 2.90 million shares for US$100 million as part of its long-running buyback program. Alongside earnings that exceeded analyst expectations, Halliburton highlighted new international contract wins, including a multi‑year agreement with YPF in Argentina and an integrated consulting and logistics deal with Greenland Energy, underscoring the growing importance of its overseas and technically complex project work. With Halliburton’s stronger‑than‑expected quarterly performance and meaningful international contract wins, we’ll now examine how this reshapes the company’s investment narrative. AI is about to change healthcare. These 32 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. To own Halliburton, you need to believe its international and technology‑heavy oilfield services can offset structural headwinds from decarbonization and North American cyclicality. The latest quarter, with earnings above expectations and solid overseas wins, supports that near term catalyst but does not remove the longer term risk that tightening environmental rules and shifting capital allocation could constrain demand over time. The YPF Vaca Muerta contract and the Greenland Energy agreement matter because they reinforce Halliburton’s push into complex international projects that rely on its digital, automation and electric fracturing offerings. These kinds of wins align with the key short term catalyst of stronger international activity, while also testing whether technology‑enabled services can help cushion the business if North American activity or pricing weakens further. However, investors should also be aware that if environmental and regulatory costs accelerate faster than expected, especially in... Read the full narrative on Halliburton (it's free!) Halliburton's narrative projects $23.6 billion revenue and $2.6 billion earnings by 2029. This requires 2.0% yearly revenue growth and a $1.3 billion earnings increase from $1.3 billion today. Uncover how Halliburton's forecasts yield a $39.30 fair value, a 4% downside to its current price. Some of the most optimistic analysts were already assuming Halliburton could reach about US$25.8 billion of revenue and US$2.9 billion of earnings by 2029, so this quarter’s international wins may either reinforce or challenge those views depending on how you weigh the added growth potential against the risk that technology alone might not fully offset long term decarbonization and pricing pressures. Explore 7 other fair value estimates on Halliburton - why the stock might be worth as much as 62% more than the current price! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Halliburton research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free Halliburton research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Halliburton's overall financial health at a glance. The market won't wait. These fast-moving stocks are hot now. Grab the list before they run: Invest in the nuclear renaissance through our list of 91 elite nuclear energy infrastructure plays powering the global AI revolution. Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 31 best rare earth metal stocks of the very few that mine this essential strategic resource. Capitalize on the AI infrastructure supercycle with our selection of the 38 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include HAL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]