Superior Energy Moving Closer to Our Fair Value With This Quarter's Negative Earnings Surprise
Superior surprised to the downside in its quarterly financials release, issuing a net loss from continuing operations of $114 million, well below our projected $81 million and the consensus mean of $86 million. While we expected Superior to grow its revenue to $372 million, an increase of 4.5% compared with the second quarter, revenue instead declined by about 8% to about $326 million. Markets reacted strongly to this dramatic top-line decline, given that it occurred even as most onshore U.S. oi...Superior Energy Services provide services and products to the energy industry. The company serves national and independent oil and natural gas exploration and production companies around the world. The company reports its operating results in four business segments: Drilling Products and Services, which include downhole drilling tools and surface rentals; Onshore Completion and Workover Services, which include pressure pumping, fluid management and workover services; Production Services, which include intervention services used to maintain and extend oil and gas production; and Technical Solutions, which include include completion tools and services, well control services and subsea well intervention.
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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