Frank’s International N.V. Announces Third Quarter 2020 Results

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Go back to Frank’s International N.V. Announces Third Quarter 2020 Results

Frank's International (FI) Misses Q3 EPS by 2c, Revenues Miss

November 3, 2020 7:13 AM EST

Frank's International (NYSE: FI) reported Q3 EPS of ($0.10), $0.02 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $84.4 million versus the consensus estimate of $89.52 million.

Third Quarter 2020 Financial Highlights

Third quarter net loss of $27.8 million, a 19% improvement compared to the prior quarter.Third quarter revenue of $84.4 million with strong performance in the Tubulars segment partially offsetting declines in the Tubular Running Services segment related to drilling activity declines quarter over quarter.Adjusted EBITDA of ($1.0) million improving from the prior quarter reflecting incremental margin improvement predominately driven by... More