The income tax provision for the six month period was $0.7 million resulting in an effective income tax rate of 20%, compared to $1.8 million last year with an effective income tax rate of 40%. Husky Energy Cuts 2020 Capital Spending to $1.7 Billion April 20, 2020 Husky Energy to Report First Quarter 2020 Results April 15, 2020 Husky Energy Suspends West White Rose Project March 22, 2020 Husky Energy Reports Results of Series 5 Preferred Share Conversion March 18, 2020 Husky Energy Cuts 2020 Spending By $1 Billion March 12, 2020 Sales in Europe and Asia Pacific were up 14% and 39%, respectively. CEO Rob Peabody, CFO Jeff Hart and other members of the senior executive team will participate in the call. With almost half of our business continuing to come from the Americas, we are fully committed to serving these customers from a strong local base. Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. Lloydminster Asphalt Refinery throughput was 28,200 bbls/day, compared to 26,100 bbls/day in the same period in 2019. Net earnings were a loss of $304 million. The rebuild project is scheduled for completion in 2022, with costs expected to be substantially covered by property damage insurance. New factors emerge from time to time and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Find the latest HUSKY ENERGY INC (HUSKF) stock quote, history, news and other vital information to help you with your stock trading and investing. However, there is no assurance that it will result in any specific strategic or financial transaction. 403-298-7088. It is headquartered in Calgary, Alberta, and its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE. ... Net earnings were a loss of $304 million. Overall average production in the Atlantic region was approximately 19,000 bbls/day, Husky working interest. Gross profit for the first six months increased to $86.3 million (19.1% of sales) from $81.5 million last year (20.0% of sales). Please note that all comments are pending until approved by our moderators. The term boe is used to express the sum of the total company products in one unit that can be used for comparisons. The LHOVC operating margin was $5 million, compared to $474 million in Q2 2019. Throughput at the Lloydminster Upgrader was 65,700 bbls/day, compared to 73,400 bbls/day in the same period in 2019. Duration: Available until August 30, 2020 Your ability to comment is currently suspended due to negative user reports. All Rights Reserved. In Asia Pacific, orders increased in all regions, with particular strength in North Asia. Beverage packaging orders were up due to higher demand in a variety of applications. 2020 capital expenditures remain on track within the previously guided range of $1.6-1.8 billion. Following recent rating agency reviews, Husky has maintained its investment-grade credit ratings. Net debt to trailing funds from operations is a non-GAAP measure that equals net debt divided by the 12-month trailing funds from operations as at June 30, 2020. Please refer to “Non-GAAP Measures” at the end of this news release. The impact of year-over- year currency rate changes increased Euro-denominated orders by approximately $11.0 million. Why is it going so down?Could anyone please explain, possible cancelling their white rose project seemed to cause a big drop. Volumes at the Upgrader were reduced early in the second quarter but ramped back up in line with increased demand. As a result, margins were 21.7% of sales compared to 23.5% last year. The Company has improved its process and occupational safety metrics, including a 38% reduction in Tier 1 and 2 Process Safety Events and a 31% reduction in the Total Recordable Injury Rate, year to date, compared to the same period in 2019. While this profit was in line with our expectations, we need to continue looking for ways to grow profitably. $4.47 High $5.50 Oct '19 Jan '20 Apr '20 Jul '20 Oct '20 Oct '21 2.00 4.00 6.00 8.00 10.00 The Company uses the term “barrels of oil equivalent” (or “boe”), which is consistent with other oil and gas companies’ disclosures, and is calculated on an energy equivalence basis applicable at the burner tip whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas. In general, gross profit earned by the Company's Service and Sales territories fluctuates primarily as a result of changes to internal pricing between business units, foreign exchange fluctuations and competitive pricing pressures. Covid and stagnant oil price. Russia ready to supply coronavirus vaccine, medication to global market - health minister The Board of Directors has approved a quarterly dividend of $0.0125 per common share for the three-month period ended June 30, 2020. Totally a buy at this price ...going to go up from here . Photos of him first appeared on his owner’s Instagram account in January 2017. The impact of unfavorable exchange rates was $1.8 million and $2.8 million for the quarter and year-to-date periods, respectively. While we have made progress, many areas of inefficiency remain and we are competing with companies around the world who are learning and getting better as well. The following table provides the full product breakdown for Integrated Corridor and Offshore upstream production, before royalties, for the periods indicated: All currency is expressed in Canadian dollars unless otherwise indicated. Operating margin is presented to assist management and investors in analyzing operating performance of the Company in the stated period. Created with Highcharts 8.2.0 - PAST 12 MONTHS - 12-MONTH FORECAST - PRICE Low $4.00 AVG. any of each other's Investing.com's posts. From the beginning of the fiscal year, non-cash working capital increased due to higher inventory and accounts receivable. Funds from operations equals cash flow – operating activities plus change in non-cash working capital. Funds from operations were $18 million. Sales in Latin America declined 7% as a result of lower opening backlog levels. is it time to buy more or shall i totally get rid of it? These factors were offset by competitive pricing pressures and higher expenses, most of which were people-related. Funds from operations is presented in the Company’s financial reports to assist management and investors in analyzing operating performance of the Company in the stated period. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. These increases were due to higher opening backlog levels and increased order intake in the first half of the fiscal year. first oil at the Spruce Lake...will it affect the stock in positive way? The increase was principally due to growth in beverage packaging as a result of higher demand in CSD and other applications. In particular, forward-looking statements in this news release include, but are not limited to, references to: There are numerous uncertainties inherent in projecting future rates of production and the timing of development expenditures. Average refinery capacity in June reached 85% following increased product demand in the PADD II region. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to the Company. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent upon other factors, and the Company’s course of action would depend upon management’s assessment of the future considering all information available to it at the relevant time. The company has more than 40 service and sales offices, supporting customers in over 100 countries. The increase in beverage packaging orders was primarily due to higher demand in CSD, water and other applications. Outside Canada and U.S.: 1-604-638-5340, Canada and U.S. Toll Free: 1-800-319-6413 Although the Company believes that the expectations reflected by the forward-looking statements presented in this news release are reasonable, the Company’s forward-looking statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. With one of the broadest product lines in the industry, Husky equipment is used to manufacture a wide range of plastic products such as bottles and caps for beverages, containers for food, medical components and consumer electronic parts. with respect to the business, operations and results of the Company generally: general strategic plans and growth strategies; potential capital spending range in 2021 while maintaining a strong production base and current downstream throughput capacity; and 2020 capital expenditure guidance ranges; with respect to the Lloydminster Heavy Oil Value Chain, the expected timing of first oil at Spruce Lake Central; with respect to U.S. Sustaining capital does not have any standardized meaning and therefore should not be used to make comparisons to similar measures presented by other issuers. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)(1). Total liquidity was $4.6 billion, comprised of $633 million in cash and $3.9 billion in available credit facilities. Write your thoughts about Husky Energy Inc. Are you sure you want to delete this chart? Toronto, Ontario — Husky Injection Molding Systems Ltd. (TSX: HKY) today announced its results for the second quarter ended January 31, 2007, a workforce reduction, and an ownership review. Get today's Husky Energy Inc. stock price and latest HSE news as well as Husky Energy Inc. real-time stock quotes, technical analysis, full financials and more.
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