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Fly News Breaks for February 24, 2016
TS
Feb 24, 2016 | 08:11 EDT
Morgan Stanley analyst Ole Slorer to Equal Weight citing elevated 2016/2017 earnings expectations and risk of a dividend cut. The analyst said OCTG prices continue to decline with no sign of near-term improvement, US inventories are above 9 months of demand, and believes contracts have been renegotiated or rebid down as much as 20%.
News For TS From the Last 2 Days
TS
Apr 25, 2024 | 16:55 EDT
The company said, "For the second quarter, as anticipated, our sales and margins will be lower than the first quarter reflecting the ongoing decline in OCTG prices in the Americas. In the third quarter, we will have stoppages at many of our mills, including at our Siderca steel shop where we will install a new furnace that will improve our environmental footprint, and this will lead to a further decline in sales and margins in the quarter."
