April 23, 2018 / 11:08 AM / a month ago

BRIEF-Halliburton Q1 Adj. EPS From Cont. Ops $0.41

April 23 (Reuters) - Halliburton Co:

* HALLIBURTON ANNOUNCES FIRST QUARTER 2018 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE $0.41 FROM CONTINUING OPERATIONS EXCLUDING ITEMS

* Q1 EARNINGS PER SHARE $0.05 FROM CONTINUING OPERATIONS

* Q1 REVENUE $5.7 BILLION VERSUS I/B/E/S VIEW $5.74 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.41 — THOMSON REUTERS I/B/E/S

* COMPLETION AND PRODUCTION REVENUE IN Q1 OF 2018 WAS $3.8 BILLION, AN INCREASE OF $1.2 BILLION, OR 46%, FROM Q1 OF 2017

* DRILLING AND EVALUATION REVENUE IN Q1 OF 2018 WAS $1.9 BILLION, AN INCREASE OF $258 MILLION, OR 15%, FROM Q1 OF 2017

* Q1 ADJUSTED INCOME FROM CONTINUING OPERATIONS, EXCLUDING IMPAIRMENTS & OTHER CHARGES RELATED TO WRITE-DOWN OF INVESTMENT IN VENEZUELA, WAS $358 MILLION, OR $0.41/SHARE

* COMPLETIONS AND PRODUCTION DIVISION WAS NEGATIVELY IMPACTED BY DELAYS IN SAND DELIVERY, DUE TO WEATHER RELATED RAIL INTERRUPTIONS IN QUARTER

* ACTIVITY IN U.S. LAND REMAINS “RESILIENT”

* CONFIDENT IN ABILITY TO REACH NORMALIZED MARGINS IN NORTH AMERICA THIS YEAR

* AS A RESULT OF IMPROVED ACTIVITY IN U.S. LAND, IN MARCH ACHIEVED NEW RECORD FOR STAGES PER SPREAD AS PRESSURE PUMPING MARKET REMAINS TIGHT

* IMPROVEMENT IN Q1 NORTH AMERICA REV DRIVEN BY INCREASED ACTIVITY THROUGHOUT U.S. LAND SECTOR , PRIMARILY PRESSURE PUMPING

* DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE SYSTEM IN VENEZUELA, U.S. SANCTIONS, WROTE DOWN ALL REMAINING VENEZUELA INVESTMENT IN Q1

* MAINTAINING ITS PRESENCE IN VENEZUELA AND IS “CAREFULLY MANAGING ITS GO-FORWARD EXPOSURE”

* WRITE DOWN OF ALL REMAINING INVESTMENT IN VENEZUELA DURING Q1 RESULTED IN CHARGE OF $312 MLN, NET OF TAX Source text for Eikon: Further company coverage:

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