This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frank’s International N.V. Announces First Quarter 2014 Results

Frank’s International N.V. (NYSE: FI) (the “Company”) today reported revenues of $264.5 million and net income of $60.4 million for the three months ended March 31, 2014. Diluted earnings per share were $0.27, with weighted average shares outstanding of 207.2 million. Adjusted EBITDA was $102.3 million.

D. Keith Mosing, Frank’s International’s Chairman, Chief Executive Officer and President said, “Frank’s International continues to grow, led by our customers drilling deeper and more complex wells. Our Gulf of Mexico services revenue was up 17 percent year-over-year while our International Services revenue increased 7 percent year-over-year. Overall, our first quarter revenue was up 14 percent year-over-year and we are reaffirming our guidance for the full year. We expect 2014 to be our third record revenue year in a row. We continue to believe we are well positioned to service the needs of the industry’s increasing exploration and development activity, especially offshore.”

First Quarter 2014 Results
  • Revenue was $264.5 million, up 13.7% compared to the first quarter of 2013, but down 6.2% compared to the fourth quarter of 2013
    • International Services revenue was $118.6 million, up 7.3% year-over-year, but down 3.0% compared to the fourth quarter of 2013
    • U.S. Services revenue was $103.8 million, up 6.4% year-over-year, but down 8.7% compared to the fourth quarter of 2013
    • Tubular Sales revenue was $42.2 million, up 71.9% year-over-year, but down 8.7% compared to the fourth quarter of 2013
  • Net income was $60.4 million with $41.9 million, or $0.27 per share, attributable to common shareholders
  • Adjusted EBITDA totaled $102.3 million with an Adjusted EBITDA margin of 38.7%
  • Diluted earnings per share were $0.27 with weighted average shares outstanding of 207.2 million
  • Effective tax rate for the first quarter of 2014 was 20.9%
  • Cash flow from operations was $77.8 million, up 53.6% year-over-year

Adjusted EBITDA, Adjusted EBITDA margin and segment Adjusted EBITDA, which are financial measures not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), are defined and reconciled to their most directly comparable GAAP financial measures below. Adjusted EBITDA, segment Adjusted EBITDA and the other segment data discussed below do not include income from discontinued operations.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs