Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Halliburton (HAL)
NYSEEnergyOil & Gas Equipment & ServicesSnapshot 2026-11-04
$31.92-3.27%
Close 2026-11-05 · 1-day change
NYSEEnergyOil & Gas Equipment & ServicesSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
2.88 → 2.92 EPS · FY ending Dec 31, 2027 · 16 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 16 to 16; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for HAL yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Share repurchases continue at >= $100M per quarter | A supporting condition in Halliburton's published investment case. The stated target is >=100 USD_MILLIONS per quarter. | Intact | Share repurchases fall below $100M per quarter | Required source inputs unavailable Cannot calculate Share repurchases from the available matching source inputs. Missing inputs are not treated as zero. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is a cyclical energy-services business, so results depend in part on activity across the energy sector. The long-term thesis is in a watch state: recent earnings beats and international progress are constructive, while financial performance slipped notably over the past month.
HAL is described as cheap versus peers, with a small expectations gap and a valuation view at medium confidence. The supplied evidence says fragility is low and priced in as justified, rather than showing that investors have fully priced a severe combination of weak execution, expensive valuation, and sector turbulence.
Near term, the latest reported quarter showed international revenue rising from the prior quarter, while total revenue was nearly unchanged. Integrated awards and a LOGIX automation deployment show operational progress, but the deployment’s financial contribution is not isolated; shareholder returns continued without a stated dollar milestone. The next guidance update and the recent slip in financial performance remain important risks, despite recent earnings beats and a much-improved macro context.
The multi-year view hinges on whether international work and technology deployments translate into stronger financial results, alongside continued capital discipline. Near term, a guidance cut would be a meaningful negative; continued earnings strength and higher guidance from sector peers would support the energy-sector tailwind, while peer misses or lower guidance could weaken it.
Over the next 1 to 3 years, HAL’s thesis balances international execution and a better sector backdrop against fragile earnings quality and uncertain near-term guidance. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Free cash flow is expected to rise to $1.857 billion in 2026, showing strong cash generation. |
| Intact |
| Free cash flow falls below $1.857B in FY26 |
Free cash flow: $102M FY2026-Q3; GAAP. Published target: >=1857 USD_MILLIONS. Target period is not explicitly aligned with this observation. Oct 23, 2026102,000,000 USD · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Operating margin >= 13% next quarter | The company guides revenue above $5.4 billion and operating margin at least 13% next quarter. | Intact | Operating margin falls below 13% next quarter | Operating margin: 10.94% FY2026-Q3; GAAP. Published target: >=13%. The stored target says 2026-Q2; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Oct 23, 202610.94161 percent · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Revenue >= $5.4B next quarter | The company guides revenue above $5.4 billion and operating margin at least 13% next quarter. | Intact | Revenue falls below $5.4B next quarter | Revenue: $5.703B FY2026-Q3; GAAP. Published target: >=5.4 USD_BILLIONS. The stored target says 2026-Q2; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Oct 23, 20265,703,000,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$2.92 → $2.92 · observed estimates
$23.59B → $23.73B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $2.92 | $23,590,786,888 | 16 / 18 |
| 2026-07-25 | $2.93 | $23,604,691,610 | 25 / 23 |
| 2026-07-26 | $2.92 | $23,590,786,888 | 16 / 18 |
| 2026-07-27 | $2.92 | $23,590,786,888 | 16 / 18 |
| 2026-07-28 | $2.91 | $23,573,266,696 | 16 / 18 |
| 2026-07-29 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-07-30 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-07-31 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-01 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-02 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-03 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-04 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-05 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-06 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-07 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-08 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-09 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-10 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-12 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-13 | $2.91 | $23,571,168,910 | 25 / 23 |
| 2026-08-14 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-15 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-16 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-17 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-18 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-19 | $2.90 | $23,558,659,238 | 16 / 18 |
| 2026-08-20 | $2.90 | $23,574,659,238 | 16 / 18 |
| 2026-08-21 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-22 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-23 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-24 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-25 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-26 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-27 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-28 | $2.89 | $23,572,956,966 | 16 / 18 |
| 2026-08-29 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-08-30 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-08-31 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-01 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-02 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-03 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-04 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-05 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-06 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-07 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-08 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-09 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-10 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-11 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-12 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-13 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-14 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-15 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-16 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-17 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-18 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-19 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-20 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-21 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-22 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-23 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-24 | $2.89 | $23,569,957,976 | 16 / 18 |
| 2026-09-25 | $2.89 | $23,576,307,952 | 16 / 18 |
| 2026-09-26 | $2.89 | $23,576,307,952 | 16 / 18 |
| 2026-09-27 | $2.89 | $23,576,307,952 | 16 / 18 |
| 2026-09-28 | $2.89 | $23,576,307,952 | 16 / 18 |
| 2026-09-29 | $2.88 | $23,558,724,619 | 16 / 18 |
| 2026-09-30 | $2.88 | $23,558,724,619 | 16 / 18 |
| 2026-10-01 | $2.88 | $23,560,545,452 | 16 / 18 |
| 2026-10-02 | $2.88 | $23,560,503,786 | 16 / 18 |
| 2026-10-03 | $2.88 | $23,560,503,786 | 16 / 18 |
| 2026-10-04 | $2.88 | $23,560,503,786 | 16 / 18 |
| 2026-10-05 | $2.88 | $23,560,503,786 | 16 / 18 |
| 2026-10-06 | $2.88 | $23,559,253,786 | 16 / 18 |
| 2026-10-07 | $2.88 | $23,559,253,786 | 16 / 18 |
| 2026-10-08 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-09 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-10 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-11 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-12 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-13 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-14 | $2.88 | $23,565,480,869 | 16 / 18 |
| 2026-10-15 | $2.88 | $23,562,646,528 | 16 / 18 |
| 2026-10-16 | $2.88 | $23,562,646,528 | 16 / 18 |
| 2026-10-17 | $2.88 | $23,562,646,528 | 16 / 18 |
| 2026-10-18 | $2.88 | $23,562,646,528 | 16 / 18 |
| 2026-10-19 | $2.88 | $23,562,646,528 | 16 / 18 |
| 2026-10-20 | $2.88 | $23,559,362,544 | 16 / 18 |
| 2026-10-21 | $2.90 | $23,598,792,010 | 16 / 18 |
| 2026-10-22 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-23 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-24 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-25 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-26 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-27 | $2.92 | $23,700,015,951 | 16 / 18 |
| 2026-10-28 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-10-29 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-10-30 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-10-31 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-11-01 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-11-02 | $2.92 | $23,716,057,618 | 16 / 18 |
| 2026-11-03 | $2.92 | $23,716,182,618 | 16 / 18 |
| 2026-11-04 | $2.92 | $23,726,715,128 | 16 / 17 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 22 Buy / Strong Buy · 5 Hold · 1 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 6 recorded
1 raises · 3 cuts · 0 unchanged · 1 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.