Seems like there should have been raised 3rd and 4th quarter guidance due to better profit margins. The call was very conservative and deliberate. Production stoppages due to weather disturbances played a factor in the refusal to give raised guidance. Stock dropped dramatically during call. The call could have been a lot better.
yeah ur right, I listened to the cal and they say max 30% growth. The stock is up 100% so it seems that people are thinking that profit taking makes sense here. Still this company is in a very sweet spot. They said the only thing that would inhibit production is hurricanes in the gulf.
In 8 years I have owned SPN they have never given guidance. IMO, conference call went very well, SPN got a lot of complements on their great performance in Q2. The only glitch in Q2 was with lift boat coast guard inspections and that has been solved with boats going back to work. Quarter demonstrates the great leverage of SPN, revwenues up 10% Q/Q and EPS up 38%. FWIW, I sold a few shares before the earnings release just because it has run up so fast, but still have sigficant shares that I plan to hold. Good Luck to all longs.