Today brought the conference call regarding the first quarter results of GasFrac Energy Services (GFS in Canada and GSFVF on the pink sheets). It was not very inspiring to say the least.
There is still no news about a new CEO. That was reaffirmed.
There seems to be some prospect of new business in the USA. It was encouraging, but it was just nothing major. At this point, only a quarter that brought actual revenue rather than the promise of future revenue will change things.
There is some work that was able to proceed in Canada during the breakup, so Canadian revenues will be better than in prior second quarters.
The second quarter of 2013 could bring all time record revenues for a second quarter to GasFrac. This sounds much better than it really is. The second quarter of prior years has been uniformly terrible. To set a record, the 2013 quarter could be just fair.
All in all, nothing was said during the conference call that changes anything.
There is still no news about a new CEO. That was reaffirmed.
There seems to be some prospect of new business in the USA. It was encouraging, but it was just nothing major. At this point, only a quarter that brought actual revenue rather than the promise of future revenue will change things.
There is some work that was able to proceed in Canada during the breakup, so Canadian revenues will be better than in prior second quarters.
The second quarter of 2013 could bring all time record revenues for a second quarter to GasFrac. This sounds much better than it really is. The second quarter of prior years has been uniformly terrible. To set a record, the 2013 quarter could be just fair.
All in all, nothing was said during the conference call that changes anything.
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