Frank's International (FI) Misses Q1 EPS by 5c; Approves $150M Stock Buyback Program

April 27, 2016 8:13 AM EDT
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Frank's International (NYSE: FI) reported Q1 EPS of $0.00, $0.05 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $153 million versus the consensus estimate of $172.18 million.

Additionally, the Board of Directors approved a new program to repurchase up to $150 million of shares of the Company’s common stock from time to time. Repurchases under the Company’s new program will be made at prevailing prices on the open market or in privately negotiated transactions as permitted by securities laws, subject to market conditions, applicable legal requirements, and other relevant factors. The timing and amount of any shares repurchased will be determined by the Company’s management. This share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time at the Company’s discretion.

For earnings history and earnings-related data on Frank's International (FI) click here.

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