Franks International (FI) Reports Q2 EPS of 23c, Offers Guidance

August 7, 2014 5:03 PM EDT
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Franks International (NYSE: FI) reported Q2 EPS of $0.23, $0.08 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $272.9 million versus the consensus estimate of $277.99 million.

Franks International sees Q3 2014 revenue of $270-280 million, versus the consensus of $294.7 million.

2014 Outlook

  • The Company is revising its full year 2014 outlook for adjusted EBITDA margin and revenue from the onshore portion of the U.S. Services segment. All other expectations are unchanged from the initial outlook, first issued on February 25, 2014. The Company currently expects:
  • International Services revenue to grow at least 10%;
  • Revenue from the offshore portion of the U.S. Services segment revenue to grow at least 10%;
  • Revenue from the onshore portion of the U.S. Services segment to decline 10% versus previous expectation of down slightly year-over-year;
  • Tubular Sales revenue to grow at least 4%;
  • Adjusted EBITDA margin to be between 37% and 39% versus previous expectation of around 40%;
  • The effective tax rate for 2014 is expected to be between 20% and 25%; and,
  • 2014 capital expenditures is expected to be approximately $190 million versus previous expectation of $250 million.

For earnings history and earnings-related data on Franks International (FI) click here.



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