Dawson Geophysic Stock Price, News & Analysis

Dawson Geophysical Company (NASDAQ: DWSN) reported its fourth quarter and fiscal year ending December 31, 2022, showing a revenue increase of 35% to $14.66 million compared to Q4 2021. The net loss narrowed to $2.78 million or $0.12 per share, an improvement from a loss of $6.98 million or $0.30 per share in the prior year. For the full year, revenue rose 52% to $37.48 million, with a reduced net loss of $20.45 million or $0.86 per share. Challenges in North American seismic activity persisted, but optimism for 2023 is growing due to increased client discussions and capital spending projections in the oil sector. The company maintains a strong balance sheet with $19.18 million in cash and equivalents.

Dawson Geophysical Company (NASDAQ: DWSN) reported unaudited Q3 2022 financial results, highlighting revenues of $3,538,000, an 85% increase from Q3 2021. Despite revenue growth, the net loss narrowed to $7,603,000 from $7,865,000 year-over-year. EBITDA also worsened to negative $5,332,000. For the nine months ending September 30, 2022, revenues rose 65% to $22,818,000, but net loss decreased from $22,110,000 to $17,672,000. The company expects increased crew activity in Q4 2022 and continuing improvements into 2023, focusing on larger projects and enhanced efficiency.

Dawson Geophysical Company (NASDAQ: DWSN) reported second-quarter financial results for 2022, with revenues of $921,000, up from $193,000 in Q2 2021. The net loss narrowed to $7.68 million or $0.32 per share from $9.02 million or $0.38 per share a year earlier. EBITDA improved to -$5.23 million compared to -$5.67 million in the same period last year. Year-to-date, revenues rose 61% to $19.28 million, with a net loss of $10.07 million. The company plans to deploy crews in the U.S. and Canada, anticipating increased operational activity through the first quarter of 2023.

Dawson Geophysical Company (DWSN) reported its financial results for Q4 and FY 2021, showing revenues of $10.84 million for Q4, up 22% from $8.88 million in Q4 2020, but a net loss of $6.98 million. For the full year, revenues fell 71.3% to $24.7 million, with a significant net loss of $29.09 million compared to $13.2 million in 2020. The company faces challenges with weak demand for seismic services and limited crew activity anticipated in 2022. A special shareholder meeting for a merger with Wilks Brothers is scheduled for March 15, 2022.

Dawson Geophysical Company (NASDAQ: DWSN) announced the successful completion of a tender offer by WB Acquisitions Inc., a subsidiary of Wilks Brothers, LLC, for outstanding common stock. The offer expired on January 14, 2022, with 15,285,001 Shares tendered, equating to approximately 73.5% of total outstanding Shares. The company will call a special shareholders meeting to approve the merger, requiring an 80% affirmative vote. The merger aligns with the Merger Agreement dated October 25, 2021, and aims to solidify Dawson as a subsidiary of Wilks.

Wilks Brothers, LLC has successfully completed its tender offer for Dawson Geophysical Company (DWSN), acquiring 15,285,001 shares at $2.34 each, representing approximately 73.5% of Dawson's outstanding shares. The offer expired on January 14, 2022. A special shareholder meeting will be convened to approve the merger, requiring at least 80% approval. If completed, Dawson will become a subsidiary of Wilks, and shares will no longer trade publicly. Non-tendering shareholders will receive the offer price in cash if the merger proceeds, but risks remain if shareholder approval is not obtained.

Wilks Brothers, LLC announced amendments to the Merger Agreement with Dawson Geophysical Company (DWSN) on January 10, 2022. The Minimum Condition for the merger has been reduced from 80% to 66.67%. Merger Sub plans to accept shares if conditions are satisfied. Dawson shareholders opting not to tender will receive $2.34 per share in cash after the merger. Weak market conditions have led to declining accounts receivable and increased cash burn rates, prompting Wilks to advocate for the merger as a means to enhance operational control. The Offer has been extended to January 14, 2022.

Wilks Brothers, LLC announces an extension of its cash tender offer for Dawson Geophysical Company (DWSN) until January 7, 2022, at 5:00 p.m. ET. As of January 3, 2022, approximately 71.2% of Dawson's outstanding shares had been tendered. Wilks aims to acquire at least 80% to proceed with a merger. The company cites declining market conditions leading to higher cash burn rates as motivation for the acquisition, emphasizing that Dawson would better manage costs as a private entity. Wilks believes the current offer represents optimal value for shareholders.

Wilks Brothers, LLC announced an extension of its cash tender offer to acquire Dawson Geophysical Company (NASDAQ: DWSN) until January 3, 2022. As of December 14, 2021, approximately 68.89% of Dawson's outstanding shares have been tendered. Wilks aims to secure at least 80% of shares to facilitate a merger. The company expects this acquisition will enhance cost control amidst challenging market conditions, asserting that delaying further could erode value for stakeholders. Wilks encourages Dawson stockholders to participate in the extended tender offer period.