GulfMark Offshore Shares Plunged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of GulfMark Offshore (NYS: GLF) fell as much as 10% today after the company released earnings.
So what: Revenue increased 7% from a year ago to $103.8 million, topping estimates of $101.7 million in revenue from analysts. But the bottom line wasn't as strong: $0.54 of earnings per share fell below estimates of $0.71.
Now what: Management was optimistic but still cautious about an improving economy helping improve operations in the future. During the quarter, GulfMark commissioned construction on six new vessels, so management obviously thinks there are growth opportunities available. I'm not seeing this drop as a great buying opportunity, but keep an eye on the impact pricing and new vessels have on results in coming quarters.
Interested in more info on GulfMark Offshore? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.The Motley Fool owns shares of Gulfmark Offshore. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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