The devil is in the details with the latest results, boasting a solid 17.5% EBITDA for BH overall. But the real story lies in IET, where the company’s positioning should be in the spotlight.
A closer look at OFSE reveals a 1% QoQ dip, while YoY remains flat, hinting at underlying issues. Digging deeper into WC, CIM, PS, and SSPS, it's clear that CIM is taking a hit with a 10% drop QoQ and 7% YoY. On the EBITDA front, CIM is falling behind dramatically, especially when compared to WFRD’s staggering 29.7% in Q3 2024 and SLB’s steady 23%, both of which managed some revenue growth. Meanwhile, the leadership—Jims, Yaqs, Nathans, and Groody—need to face the hard truth: the yes-man routine isn’t cutting it, and the disastrous MCB decision proves they’ve been turning a blind eye for too long
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What does CIM stand for?
The C Suite. Firing on all cylinders! LOL
CIM
No investment
Shocking leadership
Shambolic sales
CIM nosediving isn't surprising. CIM got hit hard in layoffs and then again in voluntary resignations. They are still reeling from low headcount. This was translated to low orders and low project outlook to keep what was left from leaving as well. Not sure what will happen with CIM in the long run but short term it's a mess.
The first thing needed to make an accurate CIM is honesty and quite frankly that’s lacking in this shxxhole.
CIM is a disaster.
Ironic all the segments listed as poor performance are those most rumoured to be sold.