NEW YORK, May 6, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Carbo Ceramics Inc. (NYSE: CRR), Ferro Corporation (NYSE: FOE), Seventy Seven Energy Inc. (NYSE: SSE), Dril-Quip, Inc. (NYSE: DRQ), and Unit Corporation (NYSE: UNT). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
CRR Research Report: ( http://get.analystsreview.com/pdf/?c=CARBO&d=06-May-2015&s=CRR ),
FOE Research Report: ( http://get.analystsreview.com/pdf/?c=Ferro%20Corp.&d=06-May-2015&s=FOE ),
SSE Research Report: ( http://get.analystsreview.com/pdf/?c=Seventy%20Seven%20Energy&d=06-May-2015&s=SSE ),
DRQ Research Report: ( http://get.analystsreview.com/pdf/?c=Dril-Quip&d=06-May-2015&s=DRQ ),
UNT Research Report: ( http://get.analystsreview.com/pdf/?c=Unit%20Corp.&d=06-May-2015&s=UNT ).
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Analyst Update: Quarterly Financial Results and Operational Update
Reviewed by: Rohit Tuli, CFA®
U.S. stocks tumbled on Tuesday as investors turned nervous amid a sharp increase in the US trade deficit gap. The NASDAQ Composite slipped 1.55%, to close at 4,939.33, the S&P 500 declined by 1.18%, to 2,089.46, and the Dow Jones Industrial Average end the session at 17,928.20, down 0.79%. European stocks closed lower on Tuesday amid increasing uncertainty over Greece's future. Germany's DAX 30 fell 2.51%, France's CAC 40 declined 2.12%, and the London's FTSE 100 closed 0.84% lower on Tuesday. Meanwhile, Asian markets drifted on Tuesday as the Reserve Bank of Australia cut interest rates and factory output in China stumbled. The Shanghai Composite; Australia's S&P ASX and Hong Kong's Hang Seng index all fell on Tuesday.
On April 30, 2015, CARBO Ceramics Inc. reported its financial results for Q1 FY 2015. The Company reported a net loss of $28.6 million or $1.24 per share for the first quarter of fiscal 2015. The quarterly figure came in at $73.7 million versus $148.6 million for the previous year quarter. The Company's cash and cash equivalents increased to $96.14 million as at March 31, 2015, versus $24.3 million as at December 31, 2015.
Ferro Corporation came out with its first quarter financial results on April 29, 2015. The Company reported adjusted EPS from continuing operations at $0.23 for the first quarter which is a 64% increase over the Q1 2014 figure. The sales for first quarter 2015 were $263 million versus net sales of $281 million for the previous year quarter.
Seventy Seven Energy Inc. reported adjusted revenues for full year 2014 at $1.978 billion which were marginally higher than fiscal year 2013 figure of $1.975 billion. During the year, the Company separated from Chesapeake Energy Corporation and as part of the spin-off, Seventy Seven distributed its compression unit manufacturing and geosteering businesses to Chesapeake and sold its crude hauling assets to a third party.
Dril-Quip Inc. announced its financial results for the first quarter on April 30, 2015. The Company announced total revenues of $226.0 million during the quarter, compared to $204.1 million for the same period in 2014. The net income figure was $53.7 million, or $1.38 per diluted share, for Q1 2015, versus net income of $42.6 million, or $1.04 per diluted share, for the first quarter of 2014.
Bloomberg reported on March 27, 2015, that Fitch Ratings has affirmed all ratings for Unit Corporation with a Stable Rating Outlook. With this rating action approximately $812 million of debt would be affected according to Bloomberg's report.
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