ION Geophysical Corporation

OTCPK:IOGP.Q Stock Report

Market Cap: US$88.7k

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

ION Geophysical Past Earnings Performance

Past criteria checks 0/6

ION Geophysical has been growing earnings at an average annual rate of 3.6%, while the Energy Services industry saw earnings growing at 23.1% annually. Revenues have been declining at an average rate of 10.9% per year.

Key information

3.55%

Earnings growth rate

12.16%

EPS growth rate

Energy Services Industry Growth23.71%
Revenue growth rate-10.92%
Return on equityn/a
Net Margin-42.05%
Last Earnings Update30 Sep 2021

Recent past performance updates

Recent updates

Seeking Alpha Apr 18

ION Geophysical Corporation Files For Bankruptcy Protection - Sell

Company files for bankruptcy protection to restructure almost $150 million in debt after a multi-month review of strategic alternatives failed to yield tangible results. Under the terms of the restructuring support agreement, holders of the company's new second lien notes due 2025 will own 99.75% of the new equity. Current equityholders will be allocated a measly 0.25% of the restructured company, still subject to dilution by the management incentive plan. Downside in the common shares calculates to 98%. Unfortunately, sky-high borrowing rates, elevated margin requirements and some uncertainties related to the ongoing marketing process are likely to keep investors sidelined. Existing equityholders should sell their positions and move on ahead of the shares' expected delisting from the NYSE next week.
Seeking Alpha Jan 28

ION Geophysical Corporation: Stock Craters After Reports Of Upcoming Chapter 11 Filing

Stock takes a beating after reports of the company looking to sell itself in a court-supervised auction emerged. Last month, the company missed an aggregate $12.3 million in bond principal and interest payments. The company has entered into forbearance agreements with lenders which are scheduled to expire on February 15. A sale of the business under chapter 11 is unlikely to generate sufficient proceeds to repay creditors, which would result in equityholders being wiped out. Investors should consider selling existing positions and moving on. Even after Thursday's sell-off, a short position could still yield decent gains.
Seeking Alpha Dec 20

ION Geophysical Corporation: Pre-Packaged Bankruptcy Likely After Missed Debt Payments

ION suffers from ongoing weak seismic data customer demand in its core offshore oil and gas segment. Last week, the company missed an aggregate $12.3 million in bond principal and interest payments ahead of a likely comprehensive debt restructuring. Language used in the recent 8-K hints at a pre-packaged chapter 11 filing. Should the company indeed file for bankruptcy, existing equity holders are unlikely to receive a meaningful recovery given the sheer amount of debt ranking ahead of them. Investors should consider selling existing positions and moving on. Even a short position could still yield decent gains.
Seeking Alpha Sep 23

ION Geophysical Corporation - Review Of Strategic Alternatives Is A Cause For Concern

Company suffers from ongoing weak seismic data customer demand in its core offshore oil and gas segment. H1 results came in well below management's expectations with a negative free cash flow of $32.7 million. With limited cash available, its credit facility effectively maxed out and the requirement to repay approximately $7.5 million in bond debt in December, ION needs to raise additional funds soon. Recently initiated review of strategic alternatives unlikely to be successful given the dismal state of the core business and the company's substantial debt obligations. A short position could yield decent results but sky-high borrowing rates are likely to keep even speculative investors sidelined at this point.
Seeking Alpha Aug 18

ION Geophysical: New Opportunities Emerge Despite The Balance Sheet Risks

IO has received several 3D re-imaging projects in various geographies. It is also targeting the lower emission market, including the evaluation of potential sites for carbon storage. The company's Marlin SmartPort deployments in various UK ports, North America, Latin America, and Africa have increased. Although it continues to accumulate net losses, the debt restructuring has extended the long-term debt maturity, which avoids any near-term financial risks.
Analysis Article Aug 14

Analysts Have Just Cut Their ION Geophysical Corporation (NYSE:IO) Revenue Estimates By 12%

Today is shaping up negative for ION Geophysical Corporation ( NYSE:IO ) shareholders, with the analysts delivering a...
Analysis Article Jan 11

Have Insiders Been Buying ION Geophysical Corporation (NYSE:IO) Shares?

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that...

Revenue & Expenses Breakdown

How ION Geophysical makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

OTCPK:IOGP.Q Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 21105-443413
30 Jun 2177-603312
31 Mar 2180-423312
31 Dec 20123-373913
30 Sep 20138-393614
30 Jun 20175-264316
31 Mar 20194-295318
31 Dec 19175-486019
30 Sep 19207-536520
30 Jun 19201-576620
31 Mar 19183-746219
31 Dec 18180-715718
30 Sep 18163-536018
30 Jun 18177-415817
31 Mar 18199-256017
31 Dec 17198-306216
30 Sep 17175-356115
30 Jun 17193-396115
31 Mar 17183-536216
31 Dec 16173-656117
30 Sep 16215-646419
30 Jun 16203-866521
31 Mar 16204-57224
31 Dec 15222-258226
30 Sep 15281-2009432

Quality Earnings: IOGP.Q is currently unprofitable.

Growing Profit Margin: IOGP.Q is currently unprofitable.


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: IOGP.Q is unprofitable, but has reduced losses over the past 5 years at a rate of 3.6% per year.

Accelerating Growth: Unable to compare IOGP.Q's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IOGP.Q is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (58.6%).


Return on Equity

High ROE: IOGP.Q's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets


Return on Capital Employed


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2022/09/13 03:40
End of Day Share Price 2022/09/12 00:00
Earnings2021/09/30
Annual Earnings2020/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ION Geophysical Corporation is covered by 15 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jeffrey CampbellAlliance Global Partners
James WestBarclays
Rudolf HokansonBarrington Research Associates, Inc.