Exterran Corp (EXTN), a company actively engaged in oil and gas production, processing, treatment, and other related services, saw an increase of 2.73% in its share price on Monday, after which, the EXTN stock soared up to $4.51 on Monday. Currently, in the premarket, the company’s shares are changing hands at $4.45, a steady decline of 1.33%.
Q2 financial results
The gain in EXTN stock came after the company announced the financial results for the second quarter, which ended June 30th. The net loss per share was $1.06. The revenue company generated during the quarter stands at $146.2 million. The net loss per share was $0.59, and revenue stood at $131.1 million during the equivalent period of 2020. The net loss posted by the company during the quarter stands at $35.2 million, as compared to the net loss of $31.9 million dollars during the equivalent period of 2020. The selling, general and administrative expenses during the quarter stand at $33.6 million, as compared to the expenses of $31.5 million during the equivalent period of 2020.
Q1 financial results
In early May, the company announced the quarterly results for the first quarter of 2021. According to the financials released by the company, the net loss per share stood at $0.88, while the revenue stood at $136.2 million. That was a significant improvement when compared with the equivalent period of 2020 when the company generated revenue of $151.7 million, and the net loss per share stood at $1.03. The net loss faced by the company during the quarter stood at $29.9 million, as compared to a net loss of $18.3 million during the equivalent period of 2020. The selling, general and administrative expenses during the quarter stood at $32.6 million, as compared to the expenses of 433.6 million in the equivalent period of 2020.
Impact of COVID pandemic
COVID-19 pandemic severely affected the business of the company, because of the fact that industries all across the globe slowed down due to the effects of the pandemic, and hence, the demand for oil across the globe was disrupted, resulting in an impact upon the business of the company. But, with ease in restrictions by the state authorities, the business performance of the company seems well on track to flourish in the upcoming months, as evident from the recent quarterly performances of the company.
What lies ahead for the company?
Looking ahead, it seems that the coming times could cause a company’s business to thrive because the industries around the world are opening up. In addition, the demand of oil would keep rising in the coming months, which could positively impact the business of the company. During the next year, the company’s revenue could increase up to $761.87 million, while the EPS could increase 24.10% during the next year. So, it is hoped that the company could truly prosper in near future.