Basic Energy Services reported a loss of 18 cents per share, which beat the Capital IQ consensus estimate of a 26-cent loss by eight cents. Revenues also increased 2% year over year to $308 million, which surpassed the consensus estimate of $307.07 million.
For the full year, the company reported a loss of 89 cents per share, down from net income of 48 cents per share one year earlier.
- Compared to its closing price of one year ago, BAS's share price has jumped by 32.00%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, our hold rating indicates that we do not recommend additional investment in this stock despite its gains in the past year.
- BAS, with its decline in revenue, underperformed when compared the industry average of 8.2%. Since the same quarter one year prior, revenues slightly dropped by 4.6%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- The debt-to-equity ratio is very high at 2.53 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. Regardless of the company's weak debt-to-equity ratio, BAS has managed to keep a strong quick ratio of 1.88, which demonstrates the ability to cover short-term cash needs.
- BASIC ENERGY SERVICES INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, BASIC ENERGY SERVICES INC reported lower earnings of $0.46 versus $1.12 in the prior year. For the next year, the market is expecting a contraction of 265.2% in earnings (-$0.76 versus $0.46).
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Energy Equipment & Services industry. The net income has significantly decreased by 204.4% when compared to the same quarter one year ago, falling from $6.66 million to -$6.96 million.
- You can view the full analysis from the report here: BAS Ratings Report