<p>Halliburton’s (NYSE: HAL) earnings for the first quarter of 2020 have HAL shares rising on Monday afternoon. This comes after reported revenue of $ 5.04 billion hit the Wall Street estimate of $ 5.01 billion. The company’s adjusted earnings per share (EPS) of 31 cents also beat analysts’ expectations of 24 cents for the quarter.
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Here’s what’s worth mentioning from the latest Halliburton results report.
Adjusted earnings per share increased by 34.78% from 23 cents during the first quarter of 2019. Revenue for the quarter was 12.2% lower compared to $ 5.74 billion during the same period last year. Operating profit of $ 571 million is a negative change compared to the previous year from operating profit of $ 365 million. Halliburton’s earnings report also includes a net loss of $ 1.02 billion. This is much worse than the net profit of $ 152 million from the first quarter of 2019.
Jeff Miller, President, President and CEO of Halliburton, said this about HAL share income:
“Halliburton drove well in the first quarter. Both our divisions delivered strong margins during the first quarter. Our first quarter results show that the Halliburton team is well prepared to adapt and deliver under all market conditions. ”
The company does not include its guidelines for the 2020 financial year, but we know what Wall Street expects. Analysts’ estimates call for a turnover of 3 cents of 16.34 billion dollars
The HAL share rose as much as 5.55% on Monday afternoon, but is now close to breakeven on the day.
Nick Clarkson is the web editor at InvestorPlace. At the time of writing, he had no position in any of the above-mentioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/halliburton-earnings-hal-stock-jumps-on-q1-beat/.
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