Tesco Corporation (USA) (TESO) Releases Earnings Results, Misses Expectations By $-0.10 EPS

Tesco Corporation (USA) (TESO) reported quarterly earnings results on Tuesday, May-10-2016. The company reported $-0.46 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $-0.36. The company posted revenue of $35.50 million in the period, compared to analysts expectations of $42.71 million. The company’s revenue was down -61.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Tesco Corporation (USA). Shares were Reiterated by FBR Capital on Mar 3, 2016 to “Outperform” and Lowered the Price Target to $ 11 from a previous price target of $13 .

Tesco Corporation (USA) opened for trading at $8.32 and hit $8.61 on the upside on Friday, eventually ending the session at $8.44, with a gain of 0.60% or 0.05 points. The heightened volatility saw the trading volume jump to 2,03,929 shares. Company has a market cap of $331 M.

In a different news, on Mar 10, 2016, Michael Niedermaier (Vice President, TCII) sold 1,823 shares at $8.34 per share price. According to the SEC, on Jan 7, 2016, Christopher L Boone (SVP, CFO) sold 866 shares at $7.09 per share price. On Jan 6, 2016, Roy Mcniven (Vice President, TCUS) sold 398 shares at $7.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Tesco Corporation is engaged in design assemble and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors and exploration and production companies around the world. The Company has operations in 23 countries across five continents. The Company operates through Top Drives Tubular Services Research & Engineering and Corporate and Other segments. The Company’s Top Drive segment includes top drive sales top drive rentals and after-market sales and services. Its Tubular Services segment includes automated and conventional tubular services. Its Research and Engineering segment includes internal research and development activities related to its automated tubular services and top drive model development as well as the Casing Drilling technology prior to the sale.

Tesco Corporation (USA)

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