Loading...
•
Jun 30, 2021
Frank's International Q2 2021 Earnings Report
Frank's International demonstrated robust momentum and strong growth in revenue and profitability.
Key Takeaways
Frank's International reported a strong second quarter with revenue of $107.8 million, a net loss of $12.6 million, and Adjusted EBITDA of $12.4 million. The company saw revenue improvement across all segments and product lines, with U.S. Gulf of Mexico business growing by more than 20%. Adjusted EBITDA margins reached 12%, the highest since 2016.
Second quarter revenue was $107.8 million, a 14% increase from the first quarter of 2021 and a 25% increase from the second quarter of 2020.
Net loss improved to $12.6 million from a prior quarter net loss of $23.9 million.
Adjusted EBITDA was $12.4 million, an 85% improvement compared to the prior quarter.
Adjusted EBITDA margins were 12%, driven by cost improvement activities and higher margin technology packages.
Forward Guidance
Frank’s International anticipates activity levels will continue to ramp up in the second half of this year and the Company will experience incremental financial improvements on all fronts. The merger with Expro Group is expected to close by the end of the third quarter.
Positive Outlook
- Activity levels are expected to continue to ramp up in the second half of the year.
- The Company anticipates incremental financial improvements on all fronts.
- Strategic growth in key areas.
- Focus on controlling costs.
- Targeted investments on the technology front.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...