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 Key Energy Services (NYSE: KEG ) fell as much as 10% today after the well-servicing company reported earnings.
So what: First-quarter revenue fell a disappointing 17% to $356.1 million, well below the $373 million that analysts expected. That resulted in a net loss of $11.9 million, or $0.08 per share, which was in line with estimates.
Now what: The good news is that U.S. demand is picking up, which should continue over the long term. But the company's international business is expected to fall another 10% sequentially next quarter, continuing to drag on results. I just don't see the losses as a good sign or a reason to buy the stock today.
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