$18.1m Q4 operating loss in fluids. -13.5% margins. Need to “right size” starting in the Woodlands. More short term debt, less assets, higher total liabilities, less stockholders equity and less cash on hand. And still carrying $43m for goodwill. Are you kidding me! What a klusterf**k
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$10m TOTAL revenue for GOM in Q4 on a $40m upgrade/investment. Those of us in the business know Shell is ALL about low bid, so margins are skinny at best. Not to mention, the capitol required to maintain equipment in a saltwater environment is costly. Just remember, biggest revenue=biggest losses in GOM. Ambar, Anchor and many others can attest to that.
Sad to say, ALL the money makers of NP are long gone, financials prove that again and again. Evolution, Deep Drill and Flex Drill are nothing more than a joke in the patch.
nr now trading @ $4.49 - DOWN 13% for the day on over twice the average trading volume
nr needs to take the same steps that Ford Motor Co just took today
nr @ $4.85 is way overrated $4.25- $4.50 would be more accurate.
$43M in Goodwill PLUS $30M of Intangible Assets.