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

Beyond Meat (BYND) Earnings: 4Q23 Key Numbers

Beyond Meat, Inc. (NASDAQ: BYND) reported net revenues of $73.7 million for the fourth quarter of 2023, down 7.8% year-over-year. Net loss was $155.1 million, or $2.40 per share, compared

AAP Infographic: Advance Auto Parts reports net loss for Q4 2023

Automotive parts retailer Advance Auto Parts, Inc. (NYSE: AAP) on Wednesday reported a net loss for the fourth quarter of 2023, compared to profit in the year-ago period. The company

Earnings: eBay’s Q4 2023 sales and earnings beat estimates

E-commerce platform eBay Inc. (NASDAQ: EBAY) on Tuesday reported financial results for the fourth quarter of 2023. Earnings and revenue topped expectations. Fourth-quarter revenues came in at $2.56 billion, compared

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