Koil Energy Q1 revenue rises on fixed-price contracts growth, returns to profit
KOIL ENERGY SOLUTIONS INC KLNG | 0.00 |
Overview
US deepwater energy equipment firm's Q1 revenue rose 56% yr/yr to $8.2 mln
Company posted net income of $241,000, reversing a loss in the year-ago quarter
Growth driven by increased fixed-price contracts and new service projects
Outlook
Company says growth trajectory is sustainable, citing increased revenue from new clients
Koil Energy sees global subsea market as highly attractive, with growth in greenfield and tie-back projects
Company says subsea tie-backs remain a core area of expertise and opportunity
Result Drivers
FIXED-PRICE CONTRACTS - Co said a significant increase in fixed-price contract activity drove revenue growth
NEW CONTRACT WINS - Co highlighted several major contract awards, including a manufacturing contract with an international offshore installation company and a subsea distribution system project in the Gulf of America
NEW CLIENT CONTRIBUTIONS - Revenue from clients added last year contributed a greater share of Q1 revenue
Company press release: ID:nGNX6hZ5t9
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
|
$8.17 mln |
|
Q1 Net Income |
|
$241,000 |
|
Q1 Basic EPS |
|
$0.02 |
|
Q1 Operating Income |
|
$273,000 |
|
Q1 Pretax Profit |
|
$270,000 |
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