Western reported 3Q15 revenue of $47 mm and EBITDAS of $8 mm, both of which were in line with our forecast. Western’s Board has decided to reduce the Company’s quarterly dividend by 33% to $0.05/share from $0.075/share beginning with the 4Q15 dividend. The Company also reduced its capital program in 2015e by $4 mm to $38 mm. Both of these measures are an effort to preserve capital in light of an uncertain operating environment. We expect Western to generate 2016e FCF of $3.0 mm in 2016e post div ....
02 Nov 2015
Outlook Unchanged
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Western Energy Services Corp. (WRG:TSE) | 0 0 (-5.1%) | Mkt Cap: 103.2m
- Published:
02 Nov 2015 -
Author:
Ian B. Gillies -
Pages:
6
Western reported 3Q15 revenue of $47 mm and EBITDAS of $8 mm, both of which were in line with our forecast. Western’s Board has decided to reduce the Company’s quarterly dividend by 33% to $0.05/share from $0.075/share beginning with the 4Q15 dividend. The Company also reduced its capital program in 2015e by $4 mm to $38 mm. Both of these measures are an effort to preserve capital in light of an uncertain operating environment. We expect Western to generate 2016e FCF of $3.0 mm in 2016e post div ....