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Superior Energy Services Inc. (NYSE:SPN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.78%.
Superior Energy Services Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 26.87% to $0.49 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Rose 103.12% to $1.18 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Superior Energy Services Inc. reported adjusted EPS income of $0.49 per share. By that measure, the company beat the mean analyst estimate of $0.48. It beat the average revenue estimate of $1.15 billion.
Quoting Management: David Dunlap, President and CEO of the Company, commented, “The fourth quarter results were within our guidance range and reflect lower sequential activity in the U.S. land market area offset by continued strong growth in the international and Gulf of Mexico market areas. Our 7% sequential decline in U.S. land market revenue was not as steep as what we experienced in the third quarter due to increased revenue from our pressure pumping business. We were able to offset this decline with 16% growth in international market revenue and 12% growth in Gulf of Mexico revenue.
“While our pressure pumping business experienced a sequential increase in profitability, our overall operating income as a percentage of revenue declined sequentially by just under 3% primarily due to lower pricing and utilization for coiled tubing and remedial pumping services, and changes in job mix for hydraulic workover and snubbing as well as pressure control services.”
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