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We Distribute Products That Deliver Energy to the World® NOW Inc., First Quarter 2017 Review & Key Takeaways
We Distribute Products That Deliver Energy to the World®
Key TakeawaysStatements made in the course of this presentation that state the Company's or
management's intentions, hopes, beliefs, expectations or predictions of the future are
forward -looking statements. It is important to note that the Company's actual results
could differ materially from those projected in such forward -looking statements.
Additional information concerning factors that could cause actual results to differ
materially from those in the forward -looking statements is contained from time -to-time
in the Company's filings with the U.S. Securities and Exchange Commission. Any decision
regarding the Company or its securities should be made upon careful consideration of not
only the information here presented, but also other available information, including the
information filed by the Company with the SEC. Copies of these filings may be obtained
by contacting the Company or the SEC.
1st Quarter 2017 Earnings 2Forward Looking StatementsFirst Quarter Financial Results
Revenues improved by $93M sequentially; EBITDA excluding other costs (a Non -GAAP measure*) improved by $22M in 1Q 2017
Net loss for 1Q 2017 of $23M or a loss of $16M excluding other costs (a Non -GAAP measure*)
Diluted loss per share for 1Q 2017 was $0.21 or $0.15 excluding other costs (a Non -GAAP measure*)
Flow through to EBITDA was 24% for 1Q 2017
North American Recovery Drove Third Consecutive Quarter of Top Line Improvements
Revenue per global operating rig annualized at $1.3M… again; $1.2M excluding acquisitions made during the last year
Revenue per rig constant while DUC’s continue to grow and deepwater continues to deteriorate
U.S. Energy Segment grew by 26 %
WS&A steady at $135M
Working capital excluding cash improved to 21% as a percent of revenue
Accounts Receivable increased by $58M and Inventory increased by $8M in 1Q 2017
$102M cash on hand at March 31, 2017
Going forward: Walking a Tightrope between Upstream Activity and the Need for Increased Inventory, Some with Longer Lead Time
Potential for break -even EBITDA, excluding other costs, in 2Q 2017 if normal seasonal declines in Canada aren’t more pronounced than years past,
product margin gains hold up and rig count continues current trajectory.
Continuing the hunt for “the right” M&A deals at “the right” price at “the right time”
1st Quarter 2015 Earnings 3CEO Perspective on 1Q 2017
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