Notable News to Watch: CSI Compressco LP (NASDAQ:CCLP)

CSI Compressco LP (NASDAQ:CCLP) spotted trading -88.19% off 52-week high price. On the other end, the stock has been noted 34.84% away from the low price over the last 52-weeks. The stock changed -6.00% to recent value of $0.47. The stock transacted 572447 shares during most recent day however it has an average volume of 286.26K shares. The company has 52.60M of outstanding shares and 46.07M shares were floated in the market.

On May 04, 2020, CSI Compressco LP (NASDAQ:CCLP) declared first quarter 2020 results.

CSI Compressco’s consolidated revenues for the quarter ended March 31, 2020 were $90 million, down 27% from the fourth quarter of 2019 due to lower equipment sales and weaker aftermarket services activity. Compression services revenue increased sequentially by 1% on the addition to the fleet of 22,160 horsepower of new equipment.  Compared to the first quarter of 2019, revenue was down 13% also due to lower equipment sales.

Net loss for the quarter ended March 31, 2020 was $13.6 million compared to a net loss of $2.0 million in the fourth quarter of 2019 and a net loss of $12.5 million for the first quarter of 2019. Net loss per diluted common unit for first quarter 2020 was $0.28 as compared to a net loss per diluted common unit of $0.04 in the fourth quarter of 2019 and a net loss per diluted common unit of $0.26 in the first quarter of 2019.

Net loss in the first quarter of 2020 included $6.0 million of unusual items, primarily related to impairment of long-lived assets and inventory related to the planned closure of our Midland fabrication facility. First quarter Adjusted EBITDA was $27.8 million, down $6.9 million from the fourth quarter 2019 due to weaker aftermarket services activity and lower equipment sales.

Its earnings per share (EPS) expected to touch remained 49.80% for this year while earning per share for the next 5-years is expected to reach at 3.70%. CCLP has a gross margin of 33.40% and an operating margin of 7.80% while its profit margin remained -4.30% for the last 12 months.

According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -18.05% from the mean of 20 days, -47.53% from mean of 50 days SMA and performed -79.24% from mean of 200 days price. Company’s performance for the week was 8.72%, -24.20% for month and YTD performance remained -82.69%.

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