Dawson Geophysic Stock Price, News & Analysis

Dawson Geophysical Company (NASDAQ: DWSN) announced a tender offer by Wilks Brothers, LLC to purchase outstanding shares at $2.34 each, effective November 1-30, 2021. The company has faced significant revenue declines due to changes in capital allocation by exploration and production (E&P) companies. Despite cost-cutting measures, Dawson reports a negative net working capital position as of September 30, 2021, and anticipates lower activity levels through 2022. The board recommends shareholders tender their shares for liquidity in a challenging market.

Dawson Geophysical Company (NASDAQ: DWSN) reported a 78% revenue decline in Q3 2021, totaling $1.91 million, compared to $8.74 million in Q3 2020. The net loss for the quarter was $7.87 million or $0.33 per share, slightly higher than last year's loss of $7.84 million. For the first nine months of 2021, revenues decreased by 82% to $13.86 million. The company is facing challenges due to low demand for seismic services, leading to concerns about cash flow and future investments. Dawson has a pending acquisition offer from Wilks Brothers for $2.34 per share, with the offer period ending on November 30, 2021.

Dawson Geophysical Company (NASDAQ: DWSN) plans to release preliminary and unaudited financial results for Q3 2021 on November 4, 2021, before market opens. An investor conference call will be held later that day at 9:00 AM CT to discuss results and the pending tender offer by Wilks Brothers, LLC. Dawson operates in North America, providing seismic data acquisition services to various clients, including major oil and gas companies. The company highlights risks related to energy industry spending and the impact of the COVID-19 pandemic on its operations.

Dawson Geophysical Company (DWSN) announced that WB Acquisitions Inc., a subsidiary of Wilks Brothers, LLC, has initiated a tender offer for all outstanding shares at $2.34 each. This follows the merger agreement signed on October 25, 2021. The offer requires at least 80% of the outstanding shares to be tendered and is set to last for at least 20 business days, expiring on November 30, 2021. Dawson's board has unanimously approved the merger terms, recommending that stockholders tender their shares.

Dawson Geophysical Company (NASDAQ: DWSN) announced a definitive merger agreement with Wilks Brothers, LLC, where a subsidiary of Wilks will offer $2.34 per share to acquire all outstanding common shares. The Board recommends shareholders tender their shares, citing liquidity and optimal future potential due to declining demand for seismic services and a skilled labor shortage. Preliminary third quarter estimates indicate revenues of $1.9 million and negative EBITDA between $4.4 million and $4.8 million, demonstrating ongoing financial challenges.

Dawson Geophysical Company (NASDAQ: DWSN) reported a significant revenue drop in Q2 2021, with revenues plummeting to $193,000 from $29.5 million in Q2 2020. The company incurred a net loss of $9 million, translating to a loss of $0.38 per share, compared to a profit of $1.5 million in the same quarter last year. For the first half of 2021, revenues fell 83% year-over-year to $11.9 million. Activity levels decreased due to the lack of seismic data acquisition crews operating in the US or Canada. The outlook remains challenging, though there are signs of slight improvement.

Dawson Geophysical Company (NASDAQ: DWSN) will publicly release its preliminary and unaudited financial results for the quarter ended June 30, 2021, on August 12, 2021. An investor conference call is scheduled for the same day at 9:00 AM Central Time. Dawson Geophysical is a prominent provider of onshore seismic data acquisition services across the U.S. and Canada, catering to major oil and gas companies. The company warns that forward-looking statements involve risks and uncertainties that may adversely affect its actual results.

Dawson Geophysical Company (NASDAQ: DWSN) reported significant financial challenges for Q1 2021, with revenues plummeting by approximately 70% to $11.75 million from $39 million in Q1 2020. The company incurred a net loss of $5.23 million, or $0.22 per share, compared to a profit of $993,000 in the previous year. Negative EBITDA stood at $1.86 million. The outlook for seismic data acquisition remains weak, with limited crew activity anticipated due to historically low demand. However, the company maintains a strong balance sheet with $46.95 million in cash and nearly no debt.

Dawson Geophysical Company (NASDAQ: DWSN) will release its preliminary and unaudited financial results for the first quarter of 2021 on May 13, 2021, before market opens. An investor conference call is scheduled for the same day at 9:00 AM CT. The call will be accessible through a dedicated phone line and online streaming. Dawson provides seismic data acquisition services across North America, catering to various clients in the oil and gas sector.