The outlook for Canadian profitability has deteriorated materially from our prior forecast due to continued price discounting in 1Q16e. We have lowered our 2016e EBITDAS to $5 mm from $20 mm and 2017e EBITDAS to $50 mm from $64 mm. Our 2016e exit net debt forecast has increased to $249 mm from $140 mm, as we had been far too aggressive in modelling working capital draws throughout 2016e. The risk of the Company having to use its equity cure provision has increased materially due to potential cov ....
26 Feb 2016
4Q15: Doing What Is Necessary
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4Q15: Doing What Is Necessary
Trican Well Service Ltd. (TCW:TSE) | 0 0 0.8% | Mkt Cap: 1,269m
- Published:
26 Feb 2016 -
Author:
Ian B. Gillies -
Pages:
6
The outlook for Canadian profitability has deteriorated materially from our prior forecast due to continued price discounting in 1Q16e. We have lowered our 2016e EBITDAS to $5 mm from $20 mm and 2017e EBITDAS to $50 mm from $64 mm. Our 2016e exit net debt forecast has increased to $249 mm from $140 mm, as we had been far too aggressive in modelling working capital draws throughout 2016e. The risk of the Company having to use its equity cure provision has increased materially due to potential cov ....