CEU posted 2Q16 revenue of $98 mm, in line with our forecast of $102 mm. The Company generated EBITDAS of -$1 mm, in line with our expectation. CEU has increased its Drilling Fluids market share in the U.S. to 11% and the acquisition of Catalyst should improve the Company’s Production Chemicals U.S. market share. However, competitive pricing is likely to continue until there is a recovery in activity. We are increasing our 2017e EBITDAS estimate to $94 mm from $89 mm driven by an upward
15 Aug 2016
Announces 2Q16 Results; PureChem Increasing Market Share
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Announces 2Q16 Results; PureChem Increasing Market Share
CES Energy Solutions Corp (CEU:TSE) | 0 0 0.0%
- Published:
15 Aug 2016 -
Author:
Ian B. Gillies -
Pages:
6
CEU posted 2Q16 revenue of $98 mm, in line with our forecast of $102 mm. The Company generated EBITDAS of -$1 mm, in line with our expectation. CEU has increased its Drilling Fluids market share in the U.S. to 11% and the acquisition of Catalyst should improve the Company’s Production Chemicals U.S. market share. However, competitive pricing is likely to continue until there is a recovery in activity. We are increasing our 2017e EBITDAS estimate to $94 mm from $89 mm driven by an upward