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Why Shares of Frank's International NV Dropped Today

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of energy industry supplier Frank's International NV (NYSE: FI  ) dropped 14% today after reporting earnings.

So what: Third-quarter revenue fell 7.8% sequentially, to $270.1 million, and net income dropped 61%, to $40.8 million. On an adjusted basis, earnings per share were $0.34, $0.06 below estimates. 

Now what: Short term, there was some weakness in results due to a lower land rig count in the U.S. But management expects full-year revenue to be flat with last year, and potentially increase as ultra-deepwater drilling increases. This quarter wasn't outstanding, but the company is well positioned in the market and, at 14 times this year's earnings estimates, I think there's still upside in the stock.

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  • Report this Comment On November 13, 2013, at 5:46 PM, TThompson88 wrote:

    Great insight. Thanks for the article. I haven't seen many comments or articile written about FI so I found this to be very helpful. In your opinion, when do you foresee this rebounding to 30?

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Related Tickers

9/29/2016 4:02 PM
FI $12.74 Up +0.12 +0.95%
Frank's Internatio… CAPS Rating: **