Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.016 loss per share (vs US$1.16 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$44.4m (up 173% from 3Q 2020). Net loss: US$453.0k (loss narrowed 97% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 19
Consensus revenue estimates fall to US$77.8m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$86.7m to US$77.8m. Forecast losses increased from -US$0.86 to -US$1.93 per share. Energy Services industry in the US expected to see average net income growth of 21% next year. Consensus price target down from US$6.07 to US$4.57. Share price fell 28% to US$1.05 over the past week. Reported Earnings • Aug 12
Second quarter 2021 earnings released: US$0.90 loss per share (vs US$0.37 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$19.7m (down 13% from 2Q 2020). Net loss: US$23.6m (loss widened 352% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Mark Doran was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • May 12
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$121.9m to US$98.5m. EPS estimate increased from -US$2.38 to -US$0.81 per share. Energy Services industry in the US expected to see average net income decline 23% next year. Consensus price target of US$9.50 unchanged from last update. Share price fell 15% to US$1.85 over the past week. Executive Departure • May 12
Independent Director has left the company On the 6th of May, Tina Wininger's tenure as Independent Director ended after 1.9 years in the role. We don't have any record of a personal shareholding under Tina's name. A total of 4 executives have left over the last 12 months. Executive Departure • May 12
Independent Director has left the company On the 6th of May, David Barr's tenure as Independent Director ended after 10.4 years in the role. We don't have any record of a personal shareholding under David's name. A total of 4 executives have left over the last 12 months. Reported Earnings • May 07
First quarter 2021 earnings released: US$0.46 loss per share (vs US$0.16 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$14.0m (down 75% from 1Q 2020). Net loss: US$7.16m (loss widened 217% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Executive Departure • Feb 16
Independent Director has left the company On the 8th of February, Huasheng Zheng's tenure as Independent Director ended after 2.8 years in the role. As of December 2020, Huasheng personally held only 5.94k shares (US$14k worth at the time). A total of 2 executives have left over the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 13
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.9%. Earnings per share (EPS) exceeded analyst estimates by 17%. Over the next year, revenue is forecast to stay flat compared to a 1.2% decline forecast for the Energy Services industry in the US. Reported Earnings • Feb 13
Full year 2020 earnings released: US$2.61 loss per share (vs US$3.41 loss in FY 2019) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: US$122.7m (down 30% from FY 2019). Net loss: US$37.2m (loss narrowed 23% from FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: US$3.44 The company is up 128% from its price of US$1.51 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 45% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: US$2.79 The company is up 34% from its price of US$2.08 on 07 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 53% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Dec 04
New 90-day high: US$2.34 The company is up 29% from its price of US$1.82 on 04 September 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Major Estimate Revision • Nov 11
Analysts update estimates The company's losses in 2020 are expected to worsen with analysts lowering their consensus EPS forecasts from -US$1.57 to -US$2.23. Revenue estimate was approximately flat at US$133.7m. The Energy Services industry in the US is expected to see a 100% decline in net income next year. The consensus price target of US$3.17 was unchanged from the last update. Share price is down by 5.7% to US$1.50 over the past week. Analyst Estimate Surprise Post Earnings • Nov 07
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 39%. Earnings per share (EPS) exceeded analyst estimates by 125%. Over the next year, revenue is expected to shrink by 5.4% compared to a 11% decline forecast for the Energy Services industry in the US. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$1.16 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$16.2m (down 70% from 3Q 2019). Net loss: US$16.6m (loss widened 346% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 29
New 90-day low: US$1.39 The company is down 49% from its price of US$2.75 on 31 July 2020. The American market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Price Target Changed • Oct 02
Price target lowered to US$3.17 Down from US$3.75, the current price target is an average from 4 analysts. The new target price is 118% above the current share price of US$1.45. As of last close, the stock is down 83% over the past year.