Frank’s Reports Mediocre 1Q Results, but Management Provides Increased Visibility for Cost Savings
Frank’s International reported mostly flat first-quarter results, with revenue down 2% on seasonal activity declines and EBITDA margins slipping to 1.8% from 1.2% in the fourth quarter. Management has maintained an optimistic attitude for 2018 and going forward, with organizational cost savings, international activity improvement, and new product introductions being key drivers of improvement in 2018 and 2019. We are maintaining our fair value estimate of $7 per share and our narrow moat rating....
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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