Fiserv Inc Stock Price, News & Analysis

Frank's International N.V. (NYSE: FI) has achieved record operational milestones for a supermajor offshore operator in Canada. Utilizing proprietary technologies like the Collar Load Support System (CLS^TM), the company improved joint handling efficiency by 133%, raising the average joints per hour from 3 to 7. This resulted in significant time and cost savings for a multi-well program while enhancing personnel safety. The BACKPACKER^TM system successfully managed 1,357 joints with only one rejection, underlining Frank's commitment to innovation and operational excellence.

Expro has successfully concluded a Plug and Abandonment (P&A) project for PETRONAS subsidiary PC Mauritania 1 Pty Ltd, valued over $20 million. The project involved 15 wells in Mauritania's Chinguetti Field Phase II, using Expro's Open Water Intervention Riser System (OWIRS), which achieved 100% operational uptime. Expro's project management team in Kuala Lumpur supported the contract's execution, overcoming pandemic-related challenges. This success marks Expro's first intervention riser system venture and positions the company for further contracts in Asia and Australia.

Frank’s International N.V. (NYSE: FI) reported a second quarter revenue of $107.8 million, marking a 14% increase from the previous quarter and 25% year-over-year. The net loss improved to $12.6 million from $23.9 million. Adjusted EBITDA reached $12.4 million, an 85% increase sequentially. The company is on track for a strategic merger with Expro Group to enhance its energy services portfolio. Revenue growth was noted across all segments, with significant contributions from U.S. Gulf of Mexico and geothermal energy projects, indicating strong operational momentum.

Frank's International (NYSE: FI) announced it received the inaugural 2021 Most Valuable Partner Award from a major operator for its outstanding service in Guyana. The award recognized Frank's achievement in Safety, Security, Health, and Environment (SSHE) Excellence, Reliability, Adaptability, and Proactivity. Their customized solutions facilitated faster casing runs while ensuring personnel safety. The company achieved an impressive 99.8% uptime and saved five hours in operations thanks to effective planning and execution by its Tubular Running Services, Cementing, and Well Integrity teams.

Frank's International N.V. (NYSE: FI) announced its upcoming conference call to discuss second quarter 2021 results, scheduled for August 3, 2021, at 10:00 a.m. CT. The earnings release will precede the call, and participants can join by phone or via a live webcast on the company's website. Frank's International, founded in 1938, specializes in tubular running services and solutions for complex wells, employing approximately 2,400 staff across 40 countries. An audio replay of the call will be available for 90 days post-event.

Frank’s International N.V. (NYSE: FI) reported Q1 2021 results with revenue of $94.8 million, slightly down from $96.3 million in Q4 2020. The company recorded a net loss of $23.9 million influenced by acquisition costs and foreign currency losses. Adjusted EBITDA improved by 44.1% to $6.7 million, driven by increased customer activity, particularly in the Tubular Running Services segment. A three-year contract extension in the Gulf of Mexico and a merger with Expro Group are also notable developments. Q2 forecasts predict growth in tubular deliveries and drilling activities.

Frank’s International N.V. (NYSE: FI) will host a conference call on May 4, 2021, at 10:00 a.m. CT to discuss its first quarter 2021 results. The earnings release will be issued prior to the call. Participants can join by dialing (800) 708-4540 or (847) 619-6397, with the call ID 50152344. A live webcast is available on the company’s website. An audio replay will be accessible approximately two hours post-call for 90 days. Founded in 1938, Frank’s provides specialized oil services across 40 countries, employing approximately 2,400 staff.

Expro Group and Frank's International announced a definitive all-stock merger agreement, where Expro shareholders will own approximately 65% of the combined entity. The merger aims to leverage both companies' market leadership in well access and flow optimization, enhancing operational capabilities across well construction and production services. With a projected pro forma revenue exceeding $1 billion and a debt-free balance sheet, the combined entity aims for cost synergies of up to $70 million within three years. The deal is expected to close by September 30, 2021, subject to shareholder and regulatory approvals.