Categories AlphaGraphs, Earnings, Energy

A visual representation of Halliburton (HAL) Q1 2020 earnings results

Halliburton Company (NYSE: HAL) reported its financial results for the quarter ended March 31, 2020 today.

Halliburton slipped to a loss in the first quarter of 2020 from a profit last year due to the inclusion of impairments, other charges and a loss on the early extinguishment of debt. The top-line dropped by 12% due to the dual shock of a massive drop in global oil demand coupled with a resulting oversupply.

Halliburton (HAL) Q1 2020 earnings review

The company expects activity in North America’s land to sharply decline during the second quarter and remains depressed through year-end, impacting all basins. The company is taking swift actions to reduce overhead and other costs by about $1 billion, lower capital expenditures to $800 million, and improve working capital.

Oil demand has significantly deteriorated as a result of the COVID-19 pandemic outbreak and corresponding preventative measures taken around the world to mitigate the spread of the virus. For the remainder of 2020, the company expects a further decline in revenue and profitability, particularly in North America.

Past Performance

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top