Free Post Earnings Research Report: Superior Energy's Revenue Surged 20%; Net Loss Narrowed
Stock Monitor: NCS Multistage Holdings Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 10, 2018 / If you want access to our free earnings report on Superior Energy Services, Inc. (NYSE: SPN), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SPN. Superior Energy Services reported its first-quarter fiscal 2018 operating and financial results on April 24, 2018. The oilfield services reported better than expected earnings results. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for NCS Multistage Holdings, Inc. (NASDAQ: NCSM), which also belongs to the Basic Materials sector as the Company Superior Energy Services. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Superior Energy Services most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=SPN
Earnings Highlights and Summary
For the three months ended March 31, 2018, Superior Energy generated revenue of $482.3 million, up 20% compared to revenue of $400.9 million in Q1 2017. The Company's reported numbers missed analysts' expectations of $490.2 million.
For Q1 2018, Superior Energy reported a net loss from continuing operations of $59.9 million, or $0.39 per share, compared to net loss from continuing operations of $89.7 million, or $0.59 per share, for Q1 2017. The Company's reported numbers were ahead of Wall Street's estimates for a loss of $0.35 per share.
Superior Energy's Geographic Breakdown
During Q1 2018, the US land segment's revenue was $331.5 million, reflecting 28% increase compared to revenue of $258.7 million in Q1 2017. The Gulf of Mexico segment's revenue was $76.0 million, and a 1% increase from revenue of $74.9 million in the prior year's same quarter. The International segment's revenue was $74.8 million, increasing 11% compared to revenue of $67.3 million in the prior year's corresponding quarter.
Superior Energy's Drilling Products and Services Segment
The Drilling Products and Services segment's revenue surged 25% to $85.2 million in Q1 2018 compared to revenue of $68.4 million in Q1 2017. The US land segment's revenue increased 16% sequentially to $40.7 million, while Gulf of Mexico segment's revenue decreased 7% sequentially to $21.0 million and the international segment's revenue increased 9% sequentially to $23.5 million.
Superior Energy's Onshore Completion and Workover Services Segment
For Q1 2018, the Onshore Completion and Workover Services segment's revenue was $231.5 million, up 13% increase from Q1 2017 revenue of $205.0 million.
Production Services segment's revenue was $100.8 million in Q1 2018, up 47% from Q1 2017 revenue of $68.6 million. The segment's US land revenue decreased 5% sequentially to $52.5 million as inefficiencies caused by winter weather, and supply chain tightness persisted, resulting in lower utilization for most service lines. Gulf of Mexico segment's revenue decreased 12% sequentially to $17.5 million due primarily to lower hydraulic workover and snubbing activity. The International segment's revenue decreased 29% sequentially to $30.8 million due to lower levels of hydraulic workover and snubbing activity and well intervention work.
Superior Energy's Technical Solutions Segment
During Q1 2018, Technical Solutions segment's revenue was $64.8 million, reflecting a 10% increase from Q1 2017 revenue of $58.9 million. The segment's US land revenue decreased 17% sequentially to $6.8 million. Gulf of Mexico segment's revenue increased 10% sequentially to $37.5 million driven by increased completion tools activity. International segment's revenue decreased 17% to $20.5 million due to lower levels of well control activity.
Financial Position
Superior Energy's debt-to-capital ratio at the end of Q1 2018 was approximately 55% and the Company's total debt at quarter-end remained $1.3 billion. Superior Energy ended Q1 2018 with $90 million in cash. The Company also recorded a pretax charge of $8.1 million primarily related to restructuring costs during the reported quarter. Superior Energy's capital expenditures during Q1 2018 were approximately $66 million of it's $225 million FY18 expected CapEx budget.
Stock Performance Snapshot
May 09, 2018 - At Wednesday's closing bell, Superior Energy Services' stock slightly climbed 0.72%, ending the trading session at $11.23.
Volume traded for the day: 4.44 million shares, which was above the 3-month average volume of 3.38 million shares.
Stock performance in the last month – up 25.06%; previous three-month period – up 20.62%; past twelve-month period – up 3.50%; and year-to-date – up 16.61%
After yesterday's close, Superior Energy Services' market cap was at $1.73 billion.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was up 2.2% at the end of the session.
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