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Willbros Group Inc. Message Board

  • spanspur spanspur Oct 9, 2013 10:50 AM Flag

    This Is The Time When Management Stays Quiet

    While empowering their short selling friends in Houston.

    They have run this game over and over again realizing there is more money to be made through silence rather than running the company.

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    • I'm down .30 a share here. But I don't want a company putting out Pr's everyday. This is a turn around company and they need to put the energy in making sure it is hitting on all cylinders. They stay focused, the numbers will take care of themselves. They are in a region that a #$%$ load of profitable contracts will be rewarded. They are going to win some nice contracts and are in a great region to perform. If the natural gas play keeps rolling forward and Obama doesn't put his foot in it, then we will see the $50's in the next two years. As stated in their last presentation, that their could be as much as $1T in spending in energy projects. Best part corpus and gulf coast will see a lot of it.

      The rebound here was impressive and next quarters numbers should improve. From my DD it looks like one project that WG bid on, that the project expected greater scope than the contract. WG performed and lost money on it, but has now taken it to court. Those loses maybe recovered. It goes to arbitration soon and as the CEO stated a good lawyer will show both sides what they have to worry about. I expect a settlement in the $20M range. They plan on paying down $50-$100M in debt and the 3rd and 4th quarters should be profitable. This is going to gap up fast and then news will be flowing. Why waste it now? Makes no sense, put out good numbers and Pr new contracts and watch this take off. Trust your DD. Don't let those little demons discourage you. The rebound shows you there's buyers.

      Sentiment: Strong Buy

      • 1 Reply to billyteex1
      • What arbitration for which completed project. WG has not won an arbitration in a decade. They go from one. drama to the next one. They lost to the Nigerians, had to settle for more than $100 million, and one of their former executives is on the lamb/run from Federal Justice Department authorities (they'll probably never find the body). They lost in Canada, etc, etc, etc.

        Yeah, I bit off on that pay down too. Problem is they'be been talking about it since the 4th quarter of last year. They haven't paid anything down so far. Borrowings, enterprise value, and a semblance of a stock price that is very accommodative to short selling hedge fund proxies. When one or two hundred million $$ are culled once or twice a year..........It doesn't really matter what happens to market capitalization now does it?

        Yes, the stock will go up, but it will all be hype. WG is a poorly run company, and after more than 110 years in business they still haven't discovered how to successfully bid a job
        For profit. The stock will go up but only because WG will be issuing a 12 million secondary from the filed shelf. Otherwise there is virtually no way WG can payoff the Nigerians from operational cash flows.

        The current CEO really knows how to spin it. His tenure has been marred with failure and scandal.

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