Continental Resources to release earnings report on Monday

We’ll learn later today how well Continental Resources Inc. did in the first quarter of the year.

The Oklahoma City-based company will release its earnings report before the open of trading Monday on the New York Stock exchange.

At 11 a.m. Central Time, the company will hold a conference call where executive leadership will discuss the first quarter 2020 results.

The company reported $775.6 million in net income or $2.08 per diluted share in 2019 while its 4th quarter 2019 net income was $193.9 million or 53 cents a diluted share.

But in early April in response to the effects of the coronavirus and the oil price crisis, Continental announced changes in its 2020 budget operations. Production was reduced for April and May as the company took actions to maximize cash flow generation and accomplish cost savings initiatives.

The board of directors also decided to suspend the quarterly dividend.