News to Watch: Frank’s International N.V. (NYSE:FI)

Frank’s International N.V. (NYSE:FI) stock declared change of 18.79% away from 52-week low price and recently located move of -41.62% off 52-week high price. It has market worth of $814.62M. FI stock has been recorded -7.19% away from 50 day moving average and -21.54% away from 200 day moving average. Moving closer, we can see that shares have been trading 8.21% off 20-day moving average.

On Feb. 25, 2020, Frank’s International N.V. (NYSE:FI) revealed financial and operational results for the three and twelve months ended December 31, 2019.

Fourth Quarter 2019 Financial Highlights

  • Revenue for the quarter totaled $139.4 million, holding steady from the prior quarter despite declines principally in the U.S. onshore market. The Tubulars segment did see significant improvement in customer deliveries. Revenue declined 4% from the prior year quarter largely as a result of U.S. onshore market declines.
  • Net loss of $168.1 million for the fourth quarter period compared to a loss of $23.8 million in the third quarter of 2019. The fourth quarter loss was significantly impacted by a $111.1 million non-cash impairment charge related to goodwill in the Cementing Equipment segment, as well as $43.9 million of severance and other charges, net of tax, primarily related to fixed asset impairments and employee separation costs. Excluding these items, adjusted net loss for the fourth quarter was $13.1 million.
  • Adjusted EBITDA for the quarter of $14.7 million was negatively impacted by approximately $1.3 million in receivable reserves predominately associated with one customer currently in liquidation.
  • Free cash flow generation of $8.6 million during the quarter resulted in a year end cash and cash equivalents balance of $195.4 million.
  • Full Year 2019 Financial Highlights
  • Revenue of $579.9 million for the full year 2019 was up 11% from the prior year total of $522.5 million. Improvements were noted across all segments with the most significant impact from increased demand for TRS offshore services and international expansion of Cementing Equipment offerings.
  • Net loss of $235.3 million, or $1.05 per diluted share, as compared to a net loss of $90.7 million, or $0.41 per diluted share, for the prior year. The full year included a $111.1 million non-cash impairment charge related to goodwill in the Cementing Equipment segment, as well as $50.4 million of severance and other charges, net of tax, primarily related to fixed asset impairments and employee separation costs. Excluding these items, adjusted net loss for 2019 was $73.9 million, or $0.33 per diluted share.
  • Improved operational results and initial profitability improvement initiatives for the Company resulted in full year 2019 Adjusted EBITDA of $57.5 million, up more than 70% from the 2018 total of $33.2 million.
  • Adjusted EBITDA margins were 9.9% of total revenue, as compared to 6.4% for the prior year providing for incremental margins of 42% year-over-year.

The Basic Materials sector company, Frank’s International N.V. noticed change of 8.59% to $3.92 along volume of 1829055 shares in recent session compared to an average volume of 655.28K. The stock observed return of 8.29% in 5 days trading activity. The stock was at 9.19% over one month performance. FI’s shares are at -26.45% for the quarter and driving a -37.38% return over the course of the past year and is now at -24.18% since this point in 2018.

The average volatility for the week at 7.52% and for month was at 5.10%. There are 207.81M shares outstanding and 97.06M shares are floated in market. Right now the stock beta is 1.4.

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