Basic Energy Services (BAS) Tops Q1 EPS by 19c

Basic Energy Services (NYSE: BAS) reported Q1 EPS of ($1.02), $0.19 better than the analyst estimate of ($1.21). Revenue for the quarter came in at $197.2 million versus the consensus estimate of $202.8 million.

"Based on our new capital plan, we expect to generate EBITDA of $70 to $75 million for full year 2019, or adjusted EBITDA of $84 to $89 million which excludes $14 million of non-cash stock compensation expense. Under this scenario, we forecast a 2019 year-end cash balance of $60 to $65 million and total liquidity of $135 to $140 million, with our New ABL Facility remaining undrawn. We believe this guidance remains conservative in nature especially with respect to frac activity with significant upside potential to these projections if completion activity accelerates over the course of the year,\" concluded Patterson.

For earnings history and earnings-related data on Basic Energy Services (BAS) click here.

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