Stock Monitor: Star Group Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors free earnings report on Frank's International N.V. (NYSE: FI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=FI. The Company posted its financial results on November 02, 2017, for the third quarter of the fiscal year 2017. The oil and gas pipeline provider's adjusted EPS was in-line with analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, Frank's International's total revenues increased 2.8% to $108.08 million from $105.11 million in Q3 FY16. The Company's total revenue numbers were below analysts' expectations of $120.2 million.
For the reported quarter, the Company's Equipment Rentals and Services revenue increased 8% to $92.55 million from $85.70 million in Q3 FY16. During Q3 FY17, the Company's Products revenue decreased 20% to $15.54 million from $19.42 million in the same period of last year.
During Q3 FY17, Frank's International's gross profit increased 14.4% to $36.35 million from $31.78 million in the comparable period of last year. For the reported quarter, the Company's gross margin increased 340 basis points to 33.6% of revenue from 30.2% of revenue in the third quarter of last year.
During Q3 FY17, Frank's International's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was positive $1.97 million compared to negative $1.30 million in the corresponding period of last year.
During Q3 FY17, Frank's International's operating loss was $35.08 million compared to an operating loss of $48.93 million in the same period of last year. During Q3 FY17, Frank's International's earnings before tax (EBT) was positive $89.91 million compared to negative $49.0 million in Q3 FY16.
For the reported quarter, Frank's International's net income was $2.30 million compared to a net loss of $36.98 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was positive $0.01 versus negative $0.21 in the same period of last year. For the reported quarter, Frank's International's adjusted net loss was $25.49 million compared to an adjusted net loss of $25.06 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS was negative $0.11 compared to negative $0.14 in Q3 FY16, meeting analysts' expectations of negative $0.11.
International Services - During Q3 FY17, the Company's International Services segment's revenue increased 5.3% to $53.74 million from $51.03 million in the comparable period of last year. For the reported quarter, the segment's adjusted EBITDA increased 146.1% to $11.15 million from $4.53 million in Q3 FY16.
US Services - During Q3 FY17, the Company's US Services segment's revenue decreased 14.7% to $29.07 million from $34.06 million in the corresponding period of last year. For the reported quarter, the segment's adjusted EBITDA was negative $11.32 million compared to negative $6.00 million in Q3 FY16.
Tubular Sales - During Q3 FY17, the Company's Tubular Sales segment's revenue decreased 61.5% to $7.70 million from $20.03 million in the same period of last year. For the reported quarter, the segment's adjusted EBITDA was negative $1.33 million compared to positive $165 million in Q3 FY16.
Blackhawk - During Q3 FY17, the Company's Blackhawk segment's revenue decreased 2.9% to $17.58 million from $18.11 million in Q2 FY17, due to lower onshore product sales. For the reported quarter, the segment's adjusted EBITDA increased 17.2% to $3.48 million from $2.97 million in Q2 FY17.
As on September 30, 2017, Frank's International's cash and cash equivalents decreased 27% to $233.34 million from $319.53 million as on December 31, 2016. For the reported quarter, the Company's total debt decreased 68.5% to $87 million from $276 million in Q4 FY16.
During Q3 FY17, the Company's cash provided by operating activities was positive $32.05 million versus negative $30.19 million in the comparable period of last year. During Q3 FY17, the Company's free cash flow was positive $37.14 million compared to negative $41.32 million in the corresponding period of last year.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, Frank's International's stock declined 1.79%, ending the trading session at $6.04.
Volume traded for the day: 1.15 million shares.
After yesterday's close, Frank's International's market cap was at $1.34 billion.
The stock has a dividend yield of 4.97%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Pipelines industry. This sector was up 0.3% at the end of the session.
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