Market Murmurs: WOR, SHL, APA
The local earnings season rolled along Wednesday in a slightly happier environment for all concerned – here’s what Worley Group, Sonic Healthcare and APA Group had to say.
Read MoreThe local earnings season rolled along Wednesday in a slightly happier environment for all concerned – here’s what Worley Group, Sonic Healthcare and APA Group had to say.
Read MoreBuy rating retained, UBS pegging Worley as an energy transition winner offering a 10-year EPS compound annual growth rate of 10%. Target price rises to $16.40 from $14.40.
Read MoreEnergy services group Worley has emerged as a major victim of COVID after a trading update Monday for the first six months of 2020-21 revealed a big slump in revenue and earnings.
Read MoreThe $4.5 billion acquisition of Jacobs ECR 16 months ago has paid off for resources engineering and services group Worley in the year to June.
Read MoreMining and construction services company Worley has boosted its reserves against the COVID-19 pandemic and the slumping oil price with a new $465 million of new debt
Read MoreFirst-half results were ahead of forecasts. Credit Suisse raises FY20 revenue estimates by 7%. Management has raised its Jacobs ECR synergy target to $175m from $150m.
Read MoreA rare event this reporting season for one lot of shareholders in the shape of a big rise in interim dividend. Worley doubled its interim dividend to an unfranked 25 cents a share.
Read MoreAhead of the first half result on February 24 the company has disclosed Pro-forma financials. These are in line with UBS estimates, with aggregated revenue of $10.5bn.
Read MoreA glance through the latest expert views and predictions about commodities. China infrastructure; iron ore miners; Indian industry; coking coal; oil; and rutile.
Read MoreThe company’s investor briefing has shown how the combined business is positioning to capture more work as Jacobs ECR is integrated. Credit Suisse remains comfortable that, pending a smooth integration, leverage to the controlled cost base and new scale will provide unique exposure to the global energy mix.
Read MoreEngineering giant Worley Parsons will double in size after buying Jacobs Engineering Group’s energy, chemicals, and resources division for a cash and debt-free enterprise value (including debt) of $US3.3 billion ($4.6 billion).
Read MoreAfter years of cutbacks and huge staff losses, WorleyParsons is opening its corporate wallet and will expand into the North Sea after buying AFW UK Oil & Gas for $303 million, but not before asking big shareholders for help.
Read MoreWorleyParsons (WOR) will not pay a dividend for another reporting period as it continues to battle the aftershocks of the great oil and gas investment boom and bust here and around the world.
Read MoreWorleyParsons (WOR) has yet to see enough improvement in activity to agree with its larger rivals, Halliburton and Schlumberger that the slide in the oil and gas business is over and 2017 will see slow rebound.
Read MoreWhat a difference a day makes.
Read MoreAfter a year or more of cost cutting, it seems it has become second nature for engineering and construction group WorleyParsons (WOR), judging by its annual meeting yesterday.
Read MoreEngineering contractor and consultant WorleyParsons (WOR) confirmed an operating loss after another round of impairment losses for the year to June 30, and held out the gloomy prospect of 12 more months at least of financial pain and strain from the tanking global oil and gas sector.
Read MoreLast Thursday’s surprise move by engineering services group WorleyParsons (WOR) to ask for a trading halt for its shares while it worked out the impact of unidentified “non-recurring charges” was explained yesterday with a whacking big earnings downgrade and a slump in the share price.
Read MoreShares in WorleyParsons (WOR) are in a trading halt at least until next Monday while the company prepares details of a major write down from “non-recurring charges” which will impact its 2015 financial results.
Read MoreWorleyParsons (WOR) shares tumbled in the wake of a gloomy outlook issued by the mining, oil and gas engineering and services specialist.
Read MoreEngineering firm WorleyParsons (WOR) expects challenging conditions in global resources markets to continue.
Read MoreJudging by the early market reaction, there was a sense of euphoria about 2013-14 results from WorleyParsons (WOR) yesterday from investors. The final dividend was lifted and management was upbeat in the post release briefing.
Read MoreWorleyParsons (WOR), which will split its company into three divisions, has lifted its restructuring costs in the past nine months to near $50 million as it seeks to cut costs to battle the continuing weakness in global resource industries.
Read MoreEngineering and mining services company, WorleyParsons (WOR) shares enjoyed a nice bounce yesterday after the company revealed its promised cost cuts and other management moves had stabilised its weakened profit situation.
Read MoreAnd still they tumble out – shock downgrades from the already downgraded mining services sector. It’s getting bloodier and yesterday WorleyParsons (WOR), one of the sector’s major players, shook confidence with a sharp and surprising earnings downgrade for the current half and full year.
Read MoreGlobal resources engineering group, WorleyParsons of Perth, surprised the market yesterday with a semi downgrade of expectations for the coming year – certainly for the first half.
Read MoreProfessional services provider, Worley Parsons (WOR) said on Friday its Canadian subsidiary has won a $350 million contract by Suncor Energy for the engineering, procurement and construction management of a Canadian oil sands project.
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