Is Halliburton profitable in 2026?

Yes. Halliburton posted Q1 2026 revenue of $5.40 billion and EPS of $0.55, beating consensus of $0.50, as reported April 20, 2026. Trailing twelve month net income stood at $1.28 billion with EPS of $1.82 as of July 18, 2026, per MarketBeat.

Could AI replace Halliburton?

No. Halliburton's work requires physically deploying crews, frac fleets, and drilling equipment underground, something AI software cannot do alone. The company ships AI as an enhancer, such as its ZEUS IQ closed-loop fracturing platform launched May 2025, not as a replacement for its operator-of-record role.

Is Halliburton laying off workers in 2025 and 2026?

Yes. Reuters reported Halliburton began rolling workforce cuts across at least three business divisions starting September 8, 2025, with reductions of 20 to 40 percent within affected units, as CEO Jeff Miller warned of a softer oilfield services market.

Who is Halliburton's biggest competitor?

SLB (Schlumberger) is Halliburton's closest rival and the global oilfield services market leader by revenue share. Baker Hughes, TechnipFMC, and Weatherford International also compete directly; Halliburton and Weatherford are in active patent litigation as of February 2026 (Fed. Cir. No. 26-1438).

Who owns Halliburton?

Halliburton is an independent public company (NYSE: HAL) with no controlling parent. Its largest institutional shareholder is Vanguard Capital Management, holding about 51.7 million shares as of a July 8, 2026 profile. Jeffrey A. Miller serves as Chairman, President and CEO.

Why is Halliburton investing in AI data centers?

Halliburton is monetizing AI-driven electricity demand through its VoltaGrid partnership, committing to a 400 megawatt modular natural gas power system for the Eastern Hemisphere in December 2025, then joining Blackstone in a $1 billion VoltaGrid raise around May 6, 2026 that also funded an acquisition.

Manufacturing companies · United States

Halliburton

halliburton.com ↗

Global oilfield services giant supplying drilling, completion, and production tech to oil and gas producers.

Hard to displace

Assessed 20 July 2026 · Evidence as of 20 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 20 July 2026 · Checkable from July 21, 2026 · Every call on the record Checkpoint: Q2 2026 earnings report

The call

Halliburton's near-term pressure comes from oil price cycles and cost cuts, not from AI or a rival taking its market position.

Halliburton provides specialized services that help oil and gas companies drill, pump, and manage wells more safely and efficiently. The company is hard to replace because it operates complex equipment on actual oil rigs, has deep knowledge of underground rock formations from decades of work, and has strong relationships with national oil companies that would be expensive and risky to break. The main threat is not a competitor stealing its business, but falling oil prices that reduce how much energy companies spend on drilling services, which is already happening in early 2026.

Why

AI pressure: None apparent. AI mostly feeds Halliburton's own tools like ZEUS IQ and LOGIX rather than threatening its physical field-service role. Could AI do the core job? Unlikely.

Bigger players: SLB (Schlumberger). SLB is building competing digital and autonomous drilling platforms that could contest Halliburton's national oil company contracts if it pulls ahead. Could a giant copy it? No, they are blocked.

What protects it. Physical rigs, crews, and operator-of-record liability that only a few firms can run at global scale, plus entrenched national oil company contracts.

What would change this call

SLB wins new NOC re-tenders previously held by Halliburton. Would show SLB overtaking Halliburton on integrated digital and automation services.
Halliburton layoffs expand beyond the ~3 divisions cut in Sept 2025 to company-wide. Would show broad shrinkage rather than normal cyclical cost discipline.
VoltaGrid's $1B raise or Propell acquisition integration falters or is written down after mid-2026 close. Would show balance sheet strain from a non-core diversification bet.

Key numbers

FY2024 revenue $22.9B, net income $2.51B (2024-12-31)
Q3 2025 revenue $5.6B, adjusted EPS $0.58 (2025-10-20)
Q1 2026 revenue $5.40B, EPS $0.55 (2026-04-20)

Named risks

Cyclical oil price downturn driving further division-level layoffs beyond Sept 2025 cuts. Severity: high
Middle East conflict guided to cut EPS by $0.07-$0.09/share in Q2 2026. Severity: medium
VoltaGrid data-center power diversification fails to deliver on 400MW 2028 commitment or drags balance sheet. Severity: medium
Conflicting headcount data across sources (46K to 60.6K) obscures true workforce trend. Severity: low
Ongoing patent litigation with Weatherford over completions technology. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
SLB (Schlumberger)	contesting	Race to lead AI-in-field automation; watch item on who wins NOC re-tenders as of mid-2026
Baker Hughes	contesting	Fellow top-5 oilfield services oligopolist competing on same NOC and completions contracts
Weatherford International	contesting	Active patent dispute filed Feb 2026, Fed. Cir. No. 26-1438, stayed pending USPTO review
TechnipFMC	contesting	Top-5 oilfield services peer competing on subsea and integrated project contracts

Questions people ask

Is Halliburton profitable in 2026?: Yes. Halliburton posted Q1 2026 revenue of $5.40 billion and EPS of $0.55, beating consensus of $0.50, as reported April 20, 2026. Trailing twelve month net income stood at $1.28 billion with EPS of $1.82 as of July 18, 2026, per MarketBeat.
Could AI replace Halliburton?: No. Halliburton's work requires physically deploying crews, frac fleets, and drilling equipment underground, something AI software cannot do alone. The company ships AI as an enhancer, such as its ZEUS IQ closed-loop fracturing platform launched May 2025, not as a replacement for its operator-of-record role.
Is Halliburton laying off workers in 2025 and 2026?: Yes. Reuters reported Halliburton began rolling workforce cuts across at least three business divisions starting September 8, 2025, with reductions of 20 to 40 percent within affected units, as CEO Jeff Miller warned of a softer oilfield services market.
Who is Halliburton's biggest competitor?: SLB (Schlumberger) is Halliburton's closest rival and the global oilfield services market leader by revenue share. Baker Hughes, TechnipFMC, and Weatherford International also compete directly; Halliburton and Weatherford are in active patent litigation as of February 2026 (Fed. Cir. No. 26-1438).
Who owns Halliburton?: Halliburton is an independent public company (NYSE: HAL) with no controlling parent. Its largest institutional shareholder is Vanguard Capital Management, holding about 51.7 million shares as of a July 8, 2026 profile. Jeffrey A. Miller serves as Chairman, President and CEO.
Why is Halliburton investing in AI data centers?: Halliburton is monetizing AI-driven electricity demand through its VoltaGrid partnership, committing to a 400 megawatt modular natural gas power system for the Eastern Hemisphere in December 2025, then joining Blackstone in a $1 billion VoltaGrid raise around May 6, 2026 that also funded an acquisition.

Timeline

2026-05-06Halliburton and Blackstone back $1B VoltaGrid raise, funding Propell Energy Technology acquisition
2026-04-20Q1 2026 results: revenue $5.40B flat YoY, EPS $0.55 beats consensus $0.50
2026-04-15Launches Volta all-electric control system for SmartWell intelligent completions
2026-01-05Launches HyperSteer MX directional drill bit
2025-12-11VoltaGrid deal expands to 400 MW modular power commitment for Eastern Hemisphere, delivery 2028
2025-10-20Q3 2025 net income falls to $18M on impairments; announces ~$100M/quarter cost savings plan
2025-09-08Begins multi-division layoffs of 20-40% in affected units amid softer market
2025-05-01Launches ZEUS IQ closed-loop fracturing platform at Frac Technology Showcase
2025-01-01Runs first fully autonomous hydraulic fracturing program with Coterra Energy

Revision history

20 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

In the same band

BHP Group Energy Transfer EOG Resources