The only question is “Will you get into the right stocks early when their growth potential is greatest?” Infrastructure Stock Boom to Sweep AmericaĪ massive push to rebuild the crumbling U.S. Hess’ bottom line for 2021 is expected to surge 150.9% year over year. NOW Inc.’s bottom line for 2021 is expected to rise 50.77% year over year. National Energy’s bottom line for 2021 is expected to rise 52.31% year over year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. ( DNOW Quick Quote DNOW - Free Report) and Hess Corporation ( HES Quick Quote HES - Free Report), each having a Zacks Rank #2 (Buy). ( NESR Quick Quote NESR - Free Report), NOW Inc. Some better-ranked players in the energy space include National Energy Services Reunited Corp. The company currently has a Zacks Rank #3 (Hold). Even though the effects of the pandemic are slowly easing, it is still impacting the timing of rig schedules, especially in international markets. The company added that the business scenario, which suffered due to the coronavirus pandemic, is in recovery mode. Revenues for 2021 are expected to be flat or a bit lower than the 2020 level of $365 million. Capital expenditure for the year is expected within $15-$17 million. Guidanceįor 2021, the leading manufacturer of highly engineered drilling and production equipment reiterated its expectation of product bookings of $40-$60 million per quarter. The company’s balance sheet is free of debt load, which highlights a sound financial position. It had total available liquidity of $397.6 million. Financialsĭril-Quip recorded $2.5 million capital expenditure for the quarter versus the year-ago level of $4.2 million.Īs of Mar 31, 2021, its cash balance was $362.2 million, up from $346 million at fourth quarter-end. For first-quarter 2020, the company’s free cash outflow was recorded at $25.4 million. Free Cash Flowĭril-Quip’s free cash flow for the first quarter was $10.6 million. Total cost and expenses for the quarter totaled $112.8 million compared with $138.3 million a year ago. Moreover, engineering and product development costs fell to $4 million for the quarter from the year-ago figure of $5.5 million. On the cost front, cost of sales declined to $56,8 million for the reported quarter from $71.4 million in the year-ago period. At quarter-end, it had $197 million in backlog. The company recorded first-quarter operating loss of $31.6 million, narrower than a loss of $42.3 million in the prior-year period.įor the first quarter, the downhole tools product line recorded the highest revenues since its acquisition in 2016. Quote First-Quarter Performanceĭril-Quip reported product bookings of $57 million for the quarter. price-consensus-eps-surprise-chart | DrilQuip, Inc. Price, Consensus and EPS SurpriseĭrilQuip, Inc.
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