Conference call is this Friday (28th), what are the thoughts on WFT making numbers? Is this going to be another disappointment or will they actually deliver?
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Think Mark made a good speech and probably he has a good plan etc but I think the rot is gonna be tough to rid. We all know we have managers etc that are just not capable or doesn't give a ...
Good luck with the Joint Venture I hope SLB is prepared to deal with a bunch of idiots on the completions side !
This place still heading for the scrap yard. Doomed.
....and the share price comes back down now. Looks like just mtg expectations on how much you are going to lose is not enough to drive the price
Planned Joint Venture with Schlumberger that is scheduled to close in the 2nd half of the year.
What is JV in 2H? Speak English.
...and the share price went up
No more mass layoffs, there are definitely layoffs still occurring. Overall take it as positive that they delivered what they said they would. Still, with 7.5B of debt they have a long way to go and it may come down to selling off some of the "Crowm Jewels". Guess next milestone will be closing the JV in the 2H.
$171 Q2 loss CEO is happy losses going down and no more layoffs for now?
WFT has always been bad at paying the bills. Might be Net30 but I remember about 10 years ago they were still not paying the suppliers. They would order something and never pay the invoices. The supplier would call and it would go straight to voicemail to acct dept. Acct dept was told to not pay the bills, and that was 10 years ago. Still doing it I see. They will go bankrupt and eventually close the doors.
They haven't turned any corner but they have gone into a ditch.
Venezuela, employee redundancy payments, Facility closures, Oil Price or HSE training investment in employees just a few excuses that might be used for a weak forecast unless WFT have finally turned a corner?
Believe you mean Suppliers. The answer is, as long as possible or if you are a critical supplier until you threaten to cut them off. For clients they pursue net 30. What the pay is 120 or more if they can get away with it.
Just wondering how long buyers have been on credit hold to keep the quarterly numbers up. Seems to be WFT MO.
Remember WFT uses the New math that always looks better than it really is. They will come in at +.01 and be saved by the bell.
You just have to hope the bar was set low.