Cordy Oilfield Services OutlookI am not saying this stock is going to move anytime soon, but if you are holding shares then pay attention to Cordy's outlook when they release earnings. This is thier outlook released November 22, 2018 and if anyone can get this company moving again it will be David Mullen as his family has an excellent record of taking and managing publicly traded companies;
OUTLOOK Cordy continues to experience improved results as compared to the previous year. A steady supply of municipal infrastructure projects, as well as an increase in oilfield market share, has had a positive impact on the business. Although pricing levels have remained competitive, Cordy’s continued focus on selling, coupled with benefits associated with its acquisition of Hornet Hydrovac (“Hornet”), continue to yield results. Cordy will continue to expand service offerings to pre-existing Hornet customers and further build relationships in the hydro excavation market. For the balance of 2018, the trend Cordy has experienced for the first nine months will remain constant. Cordy will continue to surpass 2017 numbers, revenue is anticipated to surpass last year results, while Cordy’s cost structure will remain in place to ensure margins stay consistent. Current trends in the oil and gas sector cause alarm, as Cordy still waits on our major oil and gas clients to release capital budgets, we are optimistic that our efforts in municipal and industrial revenue streams will continue to improve over last year. Subsequent to quarter end, Cordy disposed of underutilized equipment, resulting in an improved balance sheet and reduced monthly payments. Cordy continues to re-evaluate its equipment mix to ensure capital is being allocated for the highest return. Cordy’s equipment lender has been and will be critical in helping liquidate underperforming assets while enabling Cordy to strategically tweak its equipment fleet to meet any upcoming demand. While remaining focused on operational and financial performance, Cordy will continue to seek out acquisitions and or consolidation opportunities that complement its diversification strategy and provide platforms for organic growth. Cordy is actively reviewing numerous opportunities, however Cordy will remain committed to ensuring any acquisition meets our strategic initiatives and financial thresholds. Cordy will continue to consider multiple avenues to reach strategic objectives and provide shareholder value.