On Wednesday, Shares of Weatherford International plc (NYSE:WFT), lost -3.87% to $10.68.
Weatherford International stated a net loss before charges of $77 million ($0.10 net loss per share non-GAAP) on revenues of $2.39 billion for the second quarter of 2015. GAAP net loss for the second quarter of 2015 was $489 million, or a net loss of $0.63 per share.
Second Quarter 2015 Highlights
- Positive free cash flow of $104 million, principally on improved working capital performance and lower capital expenditures;
- Free cash flow improved sequentially $370 million, despite lower earnings; and
- Accomplished 97% of the reduction in force target of 10,000 employees by June 30, 2015, with predictable annualized savings of $686 million.
Weatherford International public limited company provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide.
Shares of CONSOL Energy Inc. (NYSE:CNX), declined -0.91% to $17.39, during its last trading session.
CONSOL Energy is announcing several items in advance of its planned July 28 second quarter earnings declaration.
First, CONSOL anticipates reporting a second quarter loss from operations, primarily due to lower commodity prices. Operationally, CONSOL anticipates achieving previous quarter total production guidance for both the E&P and Coal Divisions.
Separate from the operating loss, the company anticipates recording a noteworthy impairment charge due to the reduction in the carrying value of CONSOL’s conventional shallow oil and natural gas assets, largely resulting from a continuation of depressed NYMEX forward prices. This impairment charge is a non-cash item that will not affect the company’s reserves, Marcellus and Utica Shale segments, or net asset value (NAV). Also, the impairment will lower depreciation, depletion and amortization (DD&A) moving forward.
Finally, in the second quarter earnings release and call, CONSOL anticipates to talk about its plan to generate free cash flow over the next 18-months, starting in the second half of 2015, while maintaining annual gas production guidance at 30% growth for 2015 and 20% for 2016.
CONSOL Energy Inc., together with its auxiliaries, operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
Finally, Brown & Brown Inc. (NYSE:BRO), ended its last trade with 0.64% gain, and closed at $33.21.
Brown & Brown, declared its unaudited financial results for the second quarter of 2015.
Revenues for the second quarter of 2015 under U.S. generally accepted accounting principles (“GAAP”) were $419.4 million, increasing $21.6 million, or 5.4%, as contrast to the second quarter of the preceding year, with Organic Revenue increasing by 1.9%. Diluted earnings per share under GAAP were $0.43 contrast to $0.42 in the second quarter of the preceding year, representing a 2.4% enhance.
Revenues for the six months ended June 30, 2015 were $823.7 million, increasing $62.3 million, or 8.2%, as contrast to the same period of 2014, with Organic Revenue (as defined below) increasing by 2.8%. Diluted earnings per share for the six months ended June 30, 2015 under GAAP were $0.82 contrast to $0.78 in the first half of 2014, representing a 5.1% enhance.
Brown & Brown, Inc. markets and sells insurance products and services primarily in the United States, in addition to in London, Bermuda, and the Cayman Islands. Its Retail segment provides property insurance regarding physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, and dental insurance, in addition to risk administration and loss control surveys and analysis, consultation, and claims processing services.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
