Earnings Releases: MUR, WLL, MMR, MEE, GTLS, OSG

As expected, every stock I chose beat earnings. A few had issues related to some derivative positions they took, but the overall trend is promising: there is a lot of money and upside surprise in the world of energy and the services tied to it

MUR –

• EPS up 175%, or 160% after some one-off gains and charges
• Beat expectations by 40%, after the one-time events
• Raised outlook 10%+ for the next quarter
• Revenue almost doubled

Stock didn’t move.

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WLL

• Revenue up 84%
• EPS up 164%. And that includes a huge loss on derivates to hedge prices. Excluding that, it’s a 220% growth
• Missed expectations by 3% or $0.05 due to the derivatives. Otherwise they would have beaten by 14%.
• They raised production forecasts by 5%.

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MMR

• Revenues up 8x
• EPS up huge, even after a massive derivatives loss for oil price hedges
• Natural gas production up 5X same period a year previous (due to acquisitions)
• Reduced debt from $1.2B (from acquisitions) to $300M. Imagine the massive cash flow and confidence to do that in 3 quarters.
• EPS estimates have been raised 20%

Very interesting is a renewed interest to mine sulphur. They have a massive sulphur mine and sulphur is now $450/ton. They have 60M tons ($30B).

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MEE

• Revenue up 38%
• EPS up 170% and beat expectations by 70% (after excluding a one-time charge)
• Raised guidance 15%
• Exports up 83% - confirming our premise

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CLF

• Revenue up 84%
• EPS up 214%
• The big problem here is a potential bidding war for ANR.

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GTLS

• EPS up 150%, beating expectations by 30%
• Revenue up 18%, beat expectations by 2%
• Increased EPS guidance 10%

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OSG

• Revenue up 41% and beat expectations by 7%
• EPS up 20% and missed expectations by $0.01. They had major losses in derivative positions