Macquarie Downgrades Basic Energy Services (BAS) to Underperform
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Basic Energy Services Reports First Quarter 2015 Results
April 23, 2015 7:00 PM EDTFORT WORTH, Texas, April 23, 2015 /PRNewswire/ -- Basic Energy Services, Inc. (NYSE: BAS) ("Basic") today announced its financial and operating results for the first quarter ended March 31, 2015.
FIRST QUARTER 2015 HIGHLIGHTS
First quarter 2015 revenue declined 35% to $261.7 million from $400.9 million in the fourth quarter of 2014 as all lines of services experienced reduced activity levels and pricing pressures. First quarter 2015 revenue decreased 21% from $331.3 million generated in the first quarter of 2014. All metrics for the first quarter of 2014 were adjusted for the divestiture of Basic's barge rig operations in March 2014 for... More
