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Exterran Shares Jump 20% Higher on Q4 Business Update

Streetwise Reports, Streetwise Reports
0 Comments| February 14, 2020

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Shares of Exterran Corp. traded 20% higher after the company issued preliminary business operating results for the fourth quarter ended December 31, 2019.

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Houston, Tex.-based turnkey midstream infrastructure solutions firm Exterran Corp. (EXTN:NYSE), which provides products and services to oil & gas, water and power services companies, today provided a fourth quarter 2019 operational update.

Exterran Corp.'s President and CEO Andrew Way commented, "Despite the difficult market conditions experienced in 2019, we finished the year strong with fourth quarter EBITDA, as adjusted, at the high end of what we had anticipated, while meaningfully lowering our debt levels compared to the third quarter. On top of this, 2020 is off to a very strong start as bookings to date have already exceeded $400 million, driven largely by international markets. This exceeds the aggregate volume of product awards received in 2019."

The company reported preliminary results for Q4/19 of revenue between $265 million to $275 million. The firm stated that gross margin would be in the range of $80-85 million and that SG&A expenses were $36-38 million in the quarter.

The firm indicated that it had product sales bookings of $109 million with cash of $17 million on hand. Total debt outstanding was listed at $444 million.

CEO Way added, "We will provide additional details on our fourth quarter conference call on the year ahead along with the progress we have made in regards to our strategic review process regarding our U.S. compression manufacturing business."

The company advised in the report that "it is close to finalizing its review regarding options for its U.S compression fabrication business, and as a result expects to report in its fourth quarter results non-cash asset impairment charges."

Exterran is headquartered in Houston, Tex., and describes itself as "a global systems and process company offering solutions in the oil, gas, water and power markets." The company states it is a leader in natural gas processing and treatment and compression products and services, providing critical midstream infrastructure solutions to customers throughout the world. The company operates through three segments: contract operations, aftermarket services, and oil and gas product sales. The firm employs approximately 4,500 people and operates in around 25 countries.

Exterran Corp. has a market capitalization of around $154.1 million with approximately 33.5 million outstanding shares. EXTN shares opened relatively unchanged today at $4.64 (+$0.04, +0.86%) compared to yesterday's closing price of $4.60. The stock has traded today between $4.64 and $6.22 per share and is currently trading at $5.50 (+$0.90, +19.57%).

1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.


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