-=Carbo Ceramics (CRR) reported earnings on Mon 11 Nov 19 (b/o)

• On March 29, 2020, CARBO Ceramics Inc. and two (2) affiliated companies filed petitions in the United States Bankruptcy Court for the Southern District of Texas seeking relief under chapter 11 of the United States Bankruptcy Code.
• Basic Materials | Oil & Gas Equipment & Services | USA

Carbo Ceramics reports Q3 (Sep) results, misses on revs; anticipates cash will be sufficient for at least one year 

Reports Q3 (Sep) loss of $1.03 per share, may not be comparable to the S&P Capital IQ Consensus of ($0.50); revenues fell 19.1% year/year to $43.5 mln vs the $45.88 mln S&P Capital IQ Consensus.

Subsequent to September 30, 2019, the co was notified that its largest frac sand client intends to discontinue purchases of frac sand under its existing contract. Given the existing N Am oilfield market headwinds, expectations for these headwinds to continue into 2020, and the loss of revenues associated with this sand contract, there is an elevated risk associated with meeting its existing financial forecast and the co may ultimately conclude it is unable to continue as a going concern in a future period. To mitigate this risk, the co intends to pursue the liquidity-enhancing strategies. 

Earnings this week : Nov 11 - 15, 19 (wk 46)

Monday (Nov 11)

• Morning: FOLD CRR QRTEA
• Afternoon: APYX DXC FGEN FLNT FNV FTK GO HBM ICUI TDW TERP TME UGI

Tuesday (Nov 12)

• Morning: AAP ACM AEIS BPMP CBS CNNE CRON CVET DF DHI DPLO DSKE EBIX EDIT EGRX EPC ERJ GTT IAA IIVI INFN KEM MPAA OSTK PSN RDNT ROK SAGE SE TSN XON
• Afternoon: ADPT ADT APEI BREW CBPX CDLX CPRX DDOG DOX HALO HCAT HIIQ HTHT HUYA KWR MCRN MTSI OMER PTE RUN SCSC SDC SENS SSTI SWKS TLRY TVTY TWOU VRAY VREX YY

Wednesday (Nov 13)

• Morning: BEST CAE CMCM ENR FVRR GOOS LK MTOR SPB SSYS TSEM VIPS
• Afternoon: BZH CHNG CBPO CSCO CPA HI HOLI NTAP PSNL PRSP TGP TNK TTEK TCOM

Thursday (Nov 14)

• Morning: BAM CHC CTRA GDS IGT NBEV NICE RUBY SINA TUFN VIAB WMT WB WIX ZEAL
• Afternoon: AMAT AXNX DLB FTCH FSM GLOB HP KLIC NVDA VFF WPM

Friday (Nov 15) 

• Morning: JCP JD

Carbo Ceramics (CRR) reported earnings on Thur 25 Jan 2018 (BMO)

** charts after earnings **

 

Carbo Ceramics beats by $0.06, beats on revs 

• Reports Q4 (Dec) loss of $0.65 per share, $0.06 better than the Capital IQ Consensus of ($0.71); revenues rose 107.4% year/year to $60.34 mln vs the $56.87 mln Capital IQ Consensus.
• Outlook
  • CEO Gary Kolstad commented on the outlook for CARBO stating, "A key goal in 2018 is continued progress on our transformation strategy to diversify revenue streams. It is our belief that execution on this transformation strategy will result in profitable growth and positive cash from operating activities. Although seasonality will impact the first half of 2018, we believe our revenue and operating cash will show improvement in the first half of 2018 compared to the first half of 2017."
  • "We believe revenues from the Oil and Gas and Industrial sectors will grow in 2018. Looking at them separately, revenue from the Oil and Gas sector should follow industry activity while revenue from the Industrial sector should see strong double-digit growth year over year."
  • "If the recent strengthening in oil price continues in 2018, we believe base ceramic demand could improve in 2018. In addition, early indications from clients point to increased ceramic technology sales in our KRYPTOSPHERE and GUARDTM family of products. We anticipate KRYPTOSPHERE HD sales will be down slightly in 2018 due to a decrease in Gulf of Mexico activity, while KRYPTOSPHERE LD sales should exhibit solid growth globally. SCALEGUARD, a scale inhibiting production assurance product, continues to see success through its ability to prevent scale buildup and lower lease operating expense for E&P operators. The pipeline of opportunities is promising and we have been awarded additional work in 2018 for a client's Permian basin wells, which should result in increased revenues compared to 2017."
  • "Regarding our sand business, firstsales for our North East project have begun in January. We will continue to utilize various business models, including an 'asset-lite' model like this, to serve client demand. " 

Most heavily shorted stocks (August 2017)

(source: WSJ; Aug 24, 2017)

  

Companies where shares shorted represent the largest percentage of float.

	Company	Symbol	8/15/17	7/31/17	Chg	% Chg	% Float	Days to cover	Avg daily volume
1	Shake Shack Inc.	SHAK	10,956,341	10,270,648	685,693	6.7	74.7	12	949,792
2	Carvana Co.	CVNA	7,180,188.0	6,249,920.0	930,268	14.9	66.4	8	956,337
3	Carbo Ceramics	CRR	12,466,369	11,796,641	669,728	5.7	62.9	11	1,101,898
4	Lannett Company, Inc.	LCI	15,979,008.0	15,552,390.0	426,618	2.7	57.4	18	870,640
5	Boot Barn Holdings, Inc.	BOOT	7,020,679	6,585,561	435,118	6.6	54.6	14	507,667
6	Rpc	RES	30,737,358	30,329,506	407,852	1.3	53.1	22	1,377,380
7	Atwood Oceanics	ATW	38,677,420	37,511,125	1,166,295	3.1	51.0	8	4,939,377
8	Blue Apron Holdings, Inc.	APRN	13,828,624	14,673,294	-844,670	-5.8	46.0	3	4,867,087
9	Eros International Plc	EROS	12,296,302	11,577,162	719,140	6.2	45.3	10	1,219,502
10	SeaWorld Entertainment, Inc.	SEAS	28,905,957	24,355,907	4,550,050	18.7	45.1	6	5,120,173
11	California Resources Corporati	CRC	16,655,569	16,264,602	390,967	2.4	44.2	11	1,559,328
12	Banc of California, Inc.	BANC	19,714,899	18,788,675	926,224	4.9	42.8	25	798,316
13	J C Penney Company Inc	JCP	121,166,542	113,687,633	7,478,909	6.6	42.0	4	30,174,114
14	Entercom Communications	ETM	8,277,677.0	7,879,226.0	398,451	5.1	40.7	20	407,993
15	Dillards	DDS	8,301,465	7,933,267	368,198	4.6	40.1	6	1,442,492
16	Seritage Growth Properties	SRG	9,760,775	9,747,169	13,606	0.1	38.4	33	299,886
17	Vmware Inc.	VMW	25,565,832	25,279,609	286,223	1.1	37.1	16	1,597,206
18	Hertz Global Holdings, Inc.	HTZ	30,020,557	32,515,085	-2,494,528	-7.7	36.3	2	13,711,773
19	Teladoc, Inc.	TDOC	15,492,661	13,655,876	1,836,785	13.5	36.2	15	1,041,460
20	Bristow Group	BRS	12,563,933	12,298,993	264,940	2.2	36.0	11	1,092,817
21	RH	RH	10,688,739	11,897,816	-1,209,077	-10.2	34.9	8	1,387,731
22	GNC Holdings Inc.	GNC	22,814,853	26,623,922	-3,809,069	-14.3	34.3	12	1,975,555
23	Sanchez Energy Corporation	SN	24,453,592	25,172,591	-718,999	-2.9	34.1	9	2,869,163
24	Stage Stores	SSI	7,993,465	7,904,351	89,114	1.1	34.0	26	305,326
25	Pandora Media Inc	P	80,378,728	88,267,788	-7,889,060	-8.9	33.9	11	7,377,645
26	Cars.com Inc.	CARS	23,910,688	20,666,041	3,244,647	15.7	33.6	12	1,941,457
27	Yext, Inc.	YEXT	6,161,721	5,878,393	283,328	4.8	33.4	41	149,508
28	Keane Group, Inc.	FRAC	10,207,705	9,714,364	493,341	5.1	33.1	10	999,286
29	Amplify Snack Brands, Inc.	BETR	10,811,752	10,718,823	92,929	0.9	32.9	20	550,282
30	Tenet Healthcare	THC	32,001,427	28,303,089	3,698,338	13.1	32.6	5	6,101,461
31	Big Lots Inc	BIG	14,151,311	14,251,721	-100,410	-0.7	32.4	22	639,507
32	LSB Industries Inc.	LXU	6,484,313	6,014,301	470,012	7.8	32.1	9	749,932
33	Resolute Energy Corporaton	REN	5,901,152	5,617,737	283,415	5.0	31.7	8	730,058
34	WildHorse Resource Development	WRD	6,737,264	6,945,884	-208,620	-3.0	31.2	12	552,370
35	Chegg, Inc.	CHGG	23,010,914	21,296,347	1,714,567	8.1	31.0	11	2,149,288
36	Patriot National, Inc.	PN	2,209,123	2,298,820	-89,697	-3.9	30.8	48	45,742
37	Intrexon Corporation	XON	18,901,518	19,030,514	-128,996	-0.7	30.5	15	1,246,937
38	AAC Holdings, Inc.	AAC	3,443,196	3,727,773	-284,577	-7.6	30.4	19	180,882
39	e.l.f. Beauty, Inc.	ELF	6,543,498	6,347,460	196,038	3.1	30.2	9	749,094
40	Vivint Solar, Inc.	VSLR	7,258,637	7,240,701	17,936	0.2	30.1	17	429,612
41	Tailored Brands, Inc.	TLRD	14,489,572	14,697,861	-208,289	-1.4	30.1	12	1,175,974
42	Boston Beer	SAM	2,585,378	2,181,122	404,256	18.5	29.8	16	161,202
43	Hornbeck Offshore Services Inc	HOS	9,008,069.0	9,938,420	-930,351	-9.4	28.8	16	547,647
44	Greenbrier Companies	GBX	8,000,953	8,053,665	-52,712	-0.7	28.8	31	257,501
45	Teekay Corporation	TK	15,586,733	18,081,151	-2,494,418	-13.8	28.7	10	1,585,915
46	GameStop Corp	GME	27,978,086	28,117,490	-139,404	-0.5	28.3	16	1,738,903
47	Swift Transportation Company	SWFT	22,557,897.0	22,487,933.0	69,964	0.3	28.3	22	1,005,542
48	Twilio Inc.	TWLO	16,488,848	16,451,959	36,889	0.2	28.3	5	3,331,518
49	Under Armour Inc	UAA	51,623,580	54,431,690	-2,808,110	-5.2	28.2	9	5,760,223
50	Revlon	REV	2,232,948	1,112,026	1,120,922	100.8	28.0	4	510,985

Sources: FactSet Research Systems; WSJ Market Data Group