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 Nuverra Environmental Solutions Inc (OTC:NESC) fell 15% today after announcing earnings and an asset sale.
So what: For the fourth quarter, Nuverra reported $128.4 million in revenue and a net loss of $134.0 million from continuing operations. That's after pulling out $$26.1 million in revenue from Thermo Fluids,, which was sold to VeroLube for $175 million.
Now what: The loss of $0.53 per share was even bigger than the $0.35 per share loss that analysts expected and highlights the company's major challenge. Despite growing in size over the last two years, Nuverra has seen financials deteriorate and isn't generating a positive operating profit. It's not expected to this year or next either, which is enough to keep me out of the stock today.