SBO 2Q 20 Earnings Preview - Top line and margins pressure likely not ending in 2Q
We project SBOs top line to decline by 32% yoy (-28% qoq) on the back of a weaker order intake and lower activity in the US market. Lower sales revenues coupled with an increasing pricing pressure and a weaker USD should have sent SBOs operating results into the red according to our estimates (SBO did not incur an operating loss since 1Q 17).Schoeller-Bleckmann Oilfield Equipment is engaged as a producer of high precision components and a supplier of oilfield equipment for the oilfield service industry. Co. focuses on non-magnetic drillstring components (non-magnetic drill collars) and downhole tools for drilling and completing directional and horizontal wells. The High Precision Components segment consists of the manufacturing of MWD (Measuring While Drilling) and LWD (Logging While Drilling) precision drillstring components. The Oilfield Equipment segment comprises production and distribution of non-magnetic drill collars, drilling motors and tools for downhole circulation applications, repair and maintenance services.
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