Halliburton’s (NYSE:HAL) earnings for the first quarter of 2020 have HAL stock rising on Monday afternoon. This comes after reported revenue of $5.04 billion slightly beat Wall Street’s estimate of $5.01 billion. Also, the company’s adjusted earnings per share (EPS) of 31 cents beat analysts’ expectations of 24 cents for the quarter.
Here is what else is worth mentioning from the most recent Halliburton earnings report.
- Adjusted EPS was up 34.78% from 23 cents during Q1 2019.
- Revenue for the quarter comes in 12.2% lower compared to $5.74 billion during the same time last year.
- Operating loss of $571 million is a negative switch year-over-year from operating income of $365 million.
- The Halliburton earnings report also includes a net loss of $1.02 billion.
- That’s much worse than net income of $152 million from the first quarter of 2019.
Jeff Miller, chairman, president and CEO of Halliburton, said this about the HAL stock earnings:
“Halliburton executed well in the first quarter. Both our divisions delivered strong margin performance in the first quarter. Our first quarter results demonstrate that the Halliburton team is well prepared to adjust and deliver under any market conditions.”
The company does not include its fiscal 2020 guidance, but we know what Wall Street is expecting. Analysts’ estimates call for EPS of 3 cents on revenue of $16.34 billion
HAL stock was up as much as 5.55% on Monday afternoon, but is now around breakeven on the day.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.