Key Energy Services (KEG) Lowers Q2 Outlook

Article Stock Quotes (1) Comments (0)

Key Energy Services, Inc. (NYSE: KEG) expects results for its second quarter 2012 to be below prior expectations with consolidated revenue from continuing operations now forecasted to increase 5% to 7% compared to the first quarter 2012. Key also expects second quarter 2012 earnings from continuing operations to be $0.18 to $0.20 per diluted share. Key's prior second quarter guidance anticipated sequential consolidated revenue growth of 10% to 15% and earnings from continuing operations of $0.31 to $0.33 per diluted share.

The Street is looking for EPS of $0.31.

Second quarter revenue in Key's U.S. operations is expected to increase 2% to 4% sequentially, with approximately 45% of the growth coming from our rig service business. Outside of the U.S., Key's second quarter revenue is expected to increase approximately 35% sequentially, largely on growth in Mexico and consistent with prior expectations.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Five Below (FIVE) Tops Q1 EPS by 1c, Boosts FY13 Outlook
• Qdoba Mexican Grill (JACK) Plans Closure of 67 Company-Owned Restaurants in FY13
• Korn/Ferry Int'l (KFY) Tops Q4 EPS by 1c, Offers Q1 Guidance

Create E-mail Alert Related Categories

Guidance, Hot Guidance

Related Entities

Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?