Sure looks like it impacted your P&L, but not in the right way. Margins???
I have a feeling new competition is on the horizon just waiting to stomp a mud hole in PV’s Arse. Gig em
23 replies (most recent on top)
No
NP should hire a pure VP of Operations that knows the business from the ground up and hold salesmen, accounting, billing, operations, purchasing and field ops accountable.
There are only a few of these alive.
NP is clueless to what this looks like.
They let two Individauls go that had the knowledge and another died in the parking lot.
You can't be a good of boy and part of the club to make this happen.
Cheers
It’s obvious that our sales department doesn’t know how to sell at a profit. Maybe we should give them some business training in all seriousness.
Whoa
What will this ship look like after depreciation, taxes, HUGE unwarranted bonus and insurance by end of Q1 2018?
Need to call a welder and start working on plugging the holes.
Cheers
Ok let's take a look at the 10K just released for 2017. Fluids- Revenue $615.8M and Operating income (not NET income) of $27.5M . Mats- Revenue of $131.9M and Operating Income of $40.5M . Mats did 1.5 times as much Operating income as Fluids with only 18% of total company sales. Now take the Corporate Overhead ( $36.6M) and give 75% say to Fluids and 25% to Mats. Gives Fluids $27.5 Operating Income BEFORE $27.5M for Corporate Overhead. Therefore-- ZERO True operating income for Fluids for 2017 when Corporate overhead is taken into effect. Again this is Operating Income and not Net Income which is a Minus figure. Also look at statement on page 20. " The benefit for income taxes in 2016 included $9.3M benefit associated with a WORTHLESS stock deduction and related impact from restructuring in our Brazilian subsidiary". Can' t beat that. Keep on smiling. Been going on more than 3 years now and more fun to come. Check that Cash and debt position come end of 3-31-18 Q vs 12-31 16.
We still alive, 😜😜😜😆
It's interesting all the names you dropped, only one had a clue how to make money on the operations side. Look at NP's grand purchasing department and Palace in Conroe, this has to cost the company 5%+ on maragin.
Smart move. Adding additional cost on a commodity driven market.
How long has it been since NP had a real ops/ BU manager that understood how to make money, around logistics and trucking(what NP calls OTM), inventory turns, lost inventory shrinkage, over time? And just being stupid.
It's not Rocket Science boys.
Cheers
Yes ma’am. You may be right about that. But there is a reason PV is where he is and you are where you are. Hahahahahaha!!
Because after 13 or so years @ NR, ph knows as Little about the oilfield as You.
Well because you know it all why don’t you start offering good ideas instead of pointing out wut you think Is so bad. Why didn’t PH hire you to run NP?
dont use names - moderators will ban you - read site rules - no personal info allowed (including names)
just saying
Wrong to blame PV? You have got to be a functional illiterate to make that idiotic statement. PV had a DIRECT hand in getting rid of: Valenti, Warren, Dearing, Carpenter, Bollinger, Roberts, Huddle, Huff, Kusiak, Turner and other established salesman. Surely you don’t want me to start naming their replacements do you? How many of the so called replacements have had a hand in establishing a business unit? I can name 3 BU’s that were started and established by the former names. You might want to check the driving record of your current sales group. You might be surprised... Not only can they not sale, they have had driving issues as well...Can’t keep it covered up forever. Just sayin
Maybe you should go with him.
Might have contracts that are over 4 years old ? Contracts for Salesmen? Are you delusional ? Long term Contracts except for some XO's (and maybe a buyout candidate company officer in an extreme case) went out Long ago. Speaking of , see DA is turning it in as COB. Absolutely no loss there. He was in the employee placement business as i remember at one time. Connect the dots
No. These guys have been their longer then him and might have contracts.
Who is in charge of final hiring of Texas salesmen? Phil, right? Enough said
Y’all are wrong to blame PV. Our margins are low because our Texas salesmen can’t get prices higher for their so-called relationships.
NP won’t get there in Q1 with their “brilliant” policy of being low bidder. Margins flat out s---. Has anyone taken the time to look at Phil’s track record the past 3 years? Folks it is absolutely pathetic. Numbers don’t lie. Fluids is a flat out joke. Touché
NR net loss for 2017 4th Q $9.45 Million. Common share count up 5.9 Million shares from Dec 2016 to Dec 2017. Analysts looking for $.08/share profit (ie. $7M ) in 1stQ 2018. Results in apprx 65-70 days.