Halliburton Company

Good day, ladies and gentlemen, and thank you for standing by. Welcome to the second quarter of 2026 Halliburton Company earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question at this time, you need to press star 1-1 on your telephone keypad. As a reminder, this conference call is being recorded. At this time, I'd like to turn the conference over to Mr. David Coleman, Senior Director, Investor Relations. Sir, please begin.

Hello, and thank you for joining the Halliburton Second Quarter 2026 Conference Call. We will make the recording of today's webcast available for seven days on Halliburton's website after this call. Joining me today are Jeff Miller, Chairman, President, and CEO, Shannon Slocum, Executive Vice President and COO, and Eric Carre, Executive Vice President and CFO. Some of today's comments may include forward-looking statements that reflect Halliburton's views about future events. These matters involve risks and uncertainties that could cause our actual results to materially differ from our forward-looking statements. These risks are discussed in Halliburton's Form 10-K for the year ended December 31, 2025, Form 10-Q for the quarter ended March 31, 2026, current reports on Form 8-K, and other Securities and Exchange Commission filings. We undertake no obligation to revise or update publicly any forward-looking statements for any reason except as required by law. Our comments today also include non-GAAP financial measures. Additional details and reconciliation to the most directly comparable GAAP financial measures are included in our second quarter earnings release and in the quarterly results and presentation section of our website.

Now, I'll turn the call over to Jeff. Thank you, David, and good morning, everyone. I am pleased with Halliburton's second quarter performance. Our international business delivered its highest second quarter revenue in more than a decade despite the disruption in the Middle East. Our North America business delivered sequential improvement and my outlook for our business is positive. Here are a few highlights from the second quarter. We delivered total company revenue of $5.7 billion and adjusted operating margin of 12%. International revenue was $3.4 billion, an increase of 6% year-over-year. North America revenue was $2.3 billion, flat year-over-year. During the second quarter, we generated $824 million of cash flow from operations, $668 million of free cash flow, and repurchased approximately $200 million of our common stock. Now let's turn to our macro outlook. On our last call, I shared my belief that the situation in the Middle East would have meaningful and long-lasting implications for the global energy sector. What is ever more clear to me is how important energy is to a functioning global economy. The events we have seen since then only reinforce that view. Two points frame my view of the road ahead. First, energy security remains a central issue for both producing and consuming nations. To achieve it, countries must rebuild inventories, refill and expand strategic reserves, and diversify supply. I expect this work will take years, not quarters. Second, reliable and affordable energy are prerequisites for prosperity and quality of life. As the global economy expands, demand for that energy grows with it. I believe the path forward runs squarely through a healthy oil field services industry. Here is what I see today. In international markets, customer engagement is high. I see growing demand for our services and technology in every region we serve. Durable, long cycle investment is increasing in unconventional, offshore, and intervention markets, and Halliburton wins in all three. In North America, activity responded positively as we expected. Over the long term, North America remains critical to global energy security. I expect the market will require more advanced technology and greater service intensity to simply sustain, much less grow production. I believe the global outlook I just described and our differentiated technology and value proposition set the stage for Halliburton's future revenue growth and margin expansion. With that, I'll turn the call over to Shannon.