RE:RE:RE:RE:Q3 resultsAs they do not have equal quarters in therm of revenus, You cannot take an average of the all the quarters of the year. So it all depends on the revenus they will generate for the 4th quarter.
Anyway, agree on your take, all is good. THe key for the drillers is not to get stuck on a fixed rate contract with rising costs. As the supply of rigs appears to be limited, rates should raise at least to absorb the costs. And the clients are flush with cash so they can afford it or should.
Foraco already reported their september quarter and their margins were tight. MDI will probably have the same problem. In both cases, they have big exposure to Canada where the labor market is hyper tight or so it appears. Lets see what OGD reports tommorow.
Was reading Coring Magazine (If my wife saw a charge for this on the credit card statement, I would have to do some explanations) and there is an article on labor shortage in Canada which is quite interesting. Note that the Foraco VP mentions that wage increases are higher than rate increases. However, his answers were a bit strange.
https://coringmagazine.com/article/labor-shortage-canada/
GLTA