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FY2026 Q2
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Отчётный звонок Halliburton Company
Вывод Buzzberg
International revenue highest in decade despite Middle East disruption
Halliburton reported solid Q2 2026 with total revenue of $5.7B, international up 6% YoY and North America flat sequentially. Management struck a bullish tone on international growth driven by multi-year contract wins (YPF, TotalEnergies, Iraq) and steady recovery in North America. Guidance pointed to sequential margin expansion in both segments, while Middle East dynamics remain fluid. International revenue reached $3.4B, highest second quarter in a decade, despite Middle East disruption.
Вывод Buzzberg International revenue highest in decade despite Middle East disruption Halliburton reported solid Q2 2026 with total revenue of $5.7B, international up 6% YoY and North America flat sequentially. Management struck a bullish tone on international growth driven by multi-year contract wins (YPF, TotalEnergies, Iraq) and steady recovery in North America. Guidance pointed to sequential margin expansion in both segments, while Middle East dynamics remain fluid. International revenue reached $3.4B, highest second quarter in a decade, despite Middle East disruption. Читать полный анализСвернуть анализ
Halliburton reported solid Q2 2026 with total revenue of $5.7B, international up 6% YoY and North America flat sequentially. Management struck a bullish tone on international growth driven by multi-year contract wins (YPF, TotalEnergies, Iraq) and steady recovery in North America. Guidance pointed to sequential margin expansion in both segments, while Middle East dynamics remain fluid. International revenue reached $3.4B, highest second quarter in a decade, despite Middle East disruption.
- North America revenue $2.3B, flat YoY but improving with white space filled and 30+ rigs added.
- Key contract wins: YPF multi-year Zeus fleet, TotalEnergies Suriname, integrated field management award in Iraq.
- Q3 guidance: C&P revenue flat/down 2% with margin up 125-175 bps; D&E revenue down 3-5% with margin up 25-75 bps.
Выручка$5.714B+6% к/к
EPS$0.55+0% к/к
Валовая маржа14.07%Факт
Операционная маржа13.62%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Guidance
Expect international outside Middle East to grow low double digits
Demand
North America white space filled, positive Q3 trajectory
Показать ещё 3 тезиса
Guidance
International growth engines $2.5-3B target ahead of schedule
Risk
Middle East activity steady in guidance, no recovery assumed
Capex
Full year 2026 capex expected about $1.1 billion
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $5.714B | +6% к/к |
| EPS | $0.55 | +0% к/к |
| Валовая маржа | 14.07% | Факт |
| Операционная маржа | 13.62% | Факт |
| Свободный денежный поток | $0.589B | Факт |
| Капзатраты | $0.235B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Капзатраты | FY2026 | $1.1B | $1.1B | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
confident
Management expressed strong optimism about international growth opportunities and North America recovery, while acknowledging the fluid situation in the Middle East, maintaining a confident overall tone.
Оценка AI от менеджмента
Management noted AI is part of their strategic focus in open architecture and deep data management, but no specific demand, adoption, or monetization details were discussed.
Инвестиции и мощности
Management expects full year 2026 capital expenditures to be about $1.1 billion, with no shift towards data centers or fabs.
все упомянутые компании ниже: 5
Компаниис момента звонка
Клиенты
Клиенты
Shannon Slocum
Halliburton secured a large multi-year unconventional contract with YPF in Argentina, deploying its Zeus electric frac fleet, signaling strong demand and long-term commitment from YPF.
Доказательства
“Argentina with YPF, Bigwin multi-year, multi-billion with Zeus. Going back to Aramco and Jafura, and if you kind of look at the big markets out there, Argentina”
Клиенты
Shannon Slocum
Halliburton won a significant offshore contract with TotalEnergies in Suriname, adding to its deepwater footprint in the region.
Доказательства
“Just announced a really sizable win with Total Energies in Suriname. We still have a great footprint with Guyana there.”
Цепочка поставок
Цепочка поставок
Shannon Slocum
Very little capacity at all in the market on gas substitution, zero at all on electric for North America frac fleets, giving pricing power to operators of electric spreads like Halliburton's Zeus. — Tight supply of electric frac equipment supports pricing and utilization for Halliburton and may pressure competitors lacking such technology.
Доказательства
“Very little capacity at all in the market on gas substitution, zero at all on electric.”
Цепочка поставок
Shannon Slocum
Over 30 rigs being added in North America, supporting drilling activity and D&E segment growth. — Rig additions signal a sustained recovery in North America drilling that benefits equipment and service providers.
Доказательства
“We're also seeing pretty significant rig ads here. Over 30 plus rigs being added to North America.”
Внешние сигналы
Альфа цепочки поставок · 2с момента звонка
Very little capacity at all in the market on gas substitution, zero at all on electric for North America frac fleets, giving pricing power to operators of electric spreads like Halliburton's Zeus.
Over 30 rigs being added in North America, supporting drilling activity and D&E segment growth.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 5. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.