Halliburton Reports Q1 EPS From Cont. Ops. Of $0.49, Excl. Special Items

(RTTNews) - Halliburton Company (HAL) reported a loss from continuing operations of $639 million, or $0.75 per share for the first quarter of 2015. Adjusted income from continuing operations attributable to company was $418 million or $0.49 per share, for the quarter. For the first quarter of prior year, the company's profit was $623 million or $0.73 per share.

Primarily as a result of the recent downturn in the energy market and its corresponding impact on the company's business outlook, Halliburton recorded approximately $823 million, after-tax, or $0.97 per share, in company-wide charges during the first quarter of 2015 related to asset write-offs, inventory write-downs, impairments of intangible assets, severance costs, and other charges. Halliburton also recorded a Venezuela currency devaluation loss of $199 million, or $0.23 per share, and Baker Hughes acquisition-related costs of $35 million, after-tax, or $0.04 per share.

On average, 33 analysts polled by Thomson Reuters expected the company to report profit per share of $0.37 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $7.1 billion, compared to $7.3 billion in the first quarter of prior year. Analysts expected revenue of $6.99 billion for the quarter.