RE:Earnings Report was a BIG FlopI was surprised at the runup. Did anyone really expect big numbers? This is an oilfield services company. Everyone knows oil co's have not been expanding production for the past year, they have been focussed on paying down debt and share buybacks, so why would you expect a big jump in profits for ESI?
Having said that the taps are about to turn on, which is why ESI is investing for what is about to happen. Good times ahead.
These guys are no dummies, and I use this stock as a barometer for what is happening down the road. And it has a history of paying great dividends when the patch is busy.
Need to be long on this one. At least a bit longer.