Apergy reports first quarter 2020 results

Apergy reports first quarter 2020 results.q1 revenue $261.4 million versus refinitiv ibes estimate of $247.6 million.qtrly loss per share $8.51.qtrly gaap net loss includes a non-cash pre-tax charge of $682.8 million related to impairment of goodwill and long-lived assets.seeing meaningful sequential declines in our order rates, & are prepared for market conditions to remain challenging throughout 2020.additional proactive actions to significantly reduce operating expenses have increased annualized savings to $85 million from $65 million.continue to maintain a strong financial position with liquidity of $298 million at end of q1.will not be providing income statement guidance for the three months ended june 30, 2020.expect 2020 capex combined with investment in leased assets to be approximately $30 million.
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