Dawson Geophysical Reports Third Quarter 2020 Results

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Go back to Dawson Geophysical Reports Third Quarter 2020 Results

Dawson Geophysical (DWSN) Reports Q3 Loss of $0.33, Revenues Miss

October 29, 2020 6:29 AM EDT

Dawson Geophysical (NASDAQ: DWSN) reported Q3 EPS of ($0.33), versus $0.09 reported last year. Revenue for the quarter came in at $8.74 million versus the consensus estimate of $36.98 million.

Stephen C. Jumper, President and Chief Executive Officer, said, "Reduced demand for oil and gas resulting primarily from the worldwide COVID19 induced economic shutdown negatively impacted our third quarter operations. Project uncertainties remain high and have led to a substantial reduction in demand for our services going forward. Many of the companies we serve have significantly reduced their capital spending plans for the remainder of 2020 and into 2021.... More