# Halliburton Earnings: Headwinds Today, Venezuela Tomorrow

> Halliburton's Q1 earnings flat year-over-year but with Middle East growth and Venezuela contracts ahead.
- Title: Halliburton Earnings: Headwinds Today, Venezuela Tomorrow
- Summary: Halliburton's Q1 earnings flat year-over-year but with Middle East growth and Venezuela contracts ahead. Halliburton reported flat Q1 revenue with North…
- Keywords: halliburton, q1 earnings, middle east, venezuela contracts, energy infrastructure, revenue surprise, money, business, Earnings, Headwinds, Today, Venezuela
- Source: Seekingalpha — https://seekingalpha.com/article/4956071-halliburton-earnings-headwinds-today-venezuela-tomorrow-middle-east-eventually
- Author: APAC Research
- Published: 2026-10-21T21:45:49+00:00
- Read time: 1 min
- Topics: halliburton, q1 earnings, middle east, venezuela contracts, energy infrastructure, revenue surprise, money, business
## Q1 Earnings Report
Halliburton's Q1 revenue flat year-over-year with North America down 5% and Middle East/Asia up 8%.
## Revenue Surprise
HAL delivered a $125 million revenue surprise despite flat year-over-year Q1 results.
## Financial Metrics
Adjusted EBITDA rose to $1 billion with operating margin improving to 10.9%.
## Dividend and Valuation
Supporting a 17-cent dividend and an attractive 17.5x GAAP PE despite slightly rich valuation.
## Future Growth Areas
Halliburton well-positioned for Venezuelan contracts and Middle East reconstruction opportunities.
## Key takeaway

Halliburton reported flat Q1 revenue with North America down 5% and Middle East up 8%, but sees growth in Venezuela and Middle East reconstruction.