Noble Energy (NBL) Tops Q1 EPS by 16c, Revenues Miss

Noble Energy (NASDAQ: NBL) reported Q1 EPS of $0.18, $0.16 better than the analyst estimate of $0.02. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.08 billion.

“Our first quarter results highlight the Company’s ability to execute, evidenced by strong operational and financial outcomes. However, the momentum we have built in our business has been overshadowed by the external events of early 2020. As we navigate through this uncertain time, our first priority is the health and safety of our employees, support staff, and the communities we touch," stated David L. Stover, Noble Energy’s Chairman and CEO. "The current macroeconomic and commodity environment require rapid and significant adjustments to industry activity levels. In response to the global COVID-19 pandemic and the oversupplied crude oil market, Noble Energy is prioritizing strong financial liquidity and resilience over development at less than acceptable returns. Looking forward, our unique asset portfolio and financial strength position the Company well for substantial value creation as we come through this current down-cycle to the other side.”

For earnings history and earnings-related data on Noble Energy (NBL) click here.

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