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Core Laboratories (CLB) Q4 Earnings in Line, Revenues Top
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Oilfield services company Core Laboratories N.V.’s (CLB - Free Report) fourth-quarter 2016 adjusted diluted earnings of 41 cents per share came in line with the Zacks Consensus Estimate. However, the bottom line was substantially below the year-ago quarter earnings of 65 cents per share.
Total revenue of $150 million surpassed the Zacks Consensus Estimate of $145 million by 3.17% but was nearly 20.8% below the prior-year quarter level of $183 million.
Segment Performance
Reservoir Description: Segment revenues were $99.4 million compared with $114.8 million in fourth-quarter 2015. Lower activity levels hampered the results.
Operating income (excluding foreign exchange losses) for the segment was about $17.3 million in the reported quarter. Operating margin for the quarter was around 17.9%.
Production Enhancement: Segment revenues were approximately $43.2 million in the reported quarter as against $56.6 million in fourth-quarter 2015. Reduced North American drilling activity hurt the results.
Operating income (excluding foreign exchange losses) for the segment was about $2.9 million in the reported quarter.
Reservoir Management: Segment revenues of about $7 million plunged nearly 36.4% year over year. The segment incurred an operating loss of $1.3 million.
Core Laboratories N.V. Price, Consensus and EPS Surprise
As of Dec 31, 2016, Core Laboratories had cash and cash equivalents of $14.8 million. Capital expenditures for the fourth quarter were $3.6 million.
The company generated free cash flow of approximately $19.6 million in the fourth quarter of 2016.
Quarterly Dividend and Share Repurchase
On Jan 10, 2017, the company’s board of directors announced the first-quarter dividend. Core Laboratories will pay a cash dividend of 55 cents per share. This is same as the previous payout. The dividend will be paid on Feb 17, to shareholders on record as of Jan 20, 2017.
Guidance
For the first quarter, Core Laboratories expects earnings of 42 cents per share. The company expects first-quarter revenues of $150 million.
Zacks Rank and Stocks to Consider
Currently, Core Laboratories holds a Zacks Rank #3 (Hold).
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last quarter, McDermott posted a positive earnings surprise of 250.00%.
In the last quarter, Suncor posted a positive earnings surprise of 300.00%.
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Core Laboratories (CLB) Q4 Earnings in Line, Revenues Top
Oilfield services company Core Laboratories N.V.’s (CLB - Free Report) fourth-quarter 2016 adjusted diluted earnings of 41 cents per share came in line with the Zacks Consensus Estimate. However, the bottom line was substantially below the year-ago quarter earnings of 65 cents per share.
Total revenue of $150 million surpassed the Zacks Consensus Estimate of $145 million by 3.17% but was nearly 20.8% below the prior-year quarter level of $183 million.
Segment Performance
Reservoir Description: Segment revenues were $99.4 million compared with $114.8 million in fourth-quarter 2015. Lower activity levels hampered the results.
Operating income (excluding foreign exchange losses) for the segment was about $17.3 million in the reported quarter. Operating margin for the quarter was around 17.9%.
Production Enhancement: Segment revenues were approximately $43.2 million in the reported quarter as against $56.6 million in fourth-quarter 2015. Reduced North American drilling activity hurt the results.
Operating income (excluding foreign exchange losses) for the segment was about $2.9 million in the reported quarter.
Reservoir Management: Segment revenues of about $7 million plunged nearly 36.4% year over year. The segment incurred an operating loss of $1.3 million.
Core Laboratories N.V. Price, Consensus and EPS Surprise
Core Laboratories N.V. Price, Consensus and EPS Surprise | Core Laboratories N.V. Quote
Balance Sheet and Free Cash Flow
As of Dec 31, 2016, Core Laboratories had cash and cash equivalents of $14.8 million. Capital expenditures for the fourth quarter were $3.6 million.
The company generated free cash flow of approximately $19.6 million in the fourth quarter of 2016.
Quarterly Dividend and Share Repurchase
On Jan 10, 2017, the company’s board of directors announced the first-quarter dividend. Core Laboratories will pay a cash dividend of 55 cents per share. This is same as the previous payout. The dividend will be paid on Feb 17, to shareholders on record as of Jan 20, 2017.
Guidance
For the first quarter, Core Laboratories expects earnings of 42 cents per share. The company expects first-quarter revenues of $150 million.
Zacks Rank and Stocks to Consider
Currently, Core Laboratories holds a Zacks Rank #3 (Hold).
Some better-ranked players from the broader energy sector include Braskem S.A. (BAK - Free Report) , McDermott International, Inc. and Suncor Energy Inc. (SU - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last four quarters, Braskem posted an average positive earnings surprise of 105.5%.
In the last quarter, McDermott posted a positive earnings surprise of 250.00%.
In the last quarter, Suncor posted a positive earnings surprise of 300.00%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>