Core Viewpoint - Oceaneering International, Inc. (OII) reported strong financial results for the first quarter of 2025, with adjusted profit and revenue exceeding expectations, driven by robust performance in several segments, particularly Subsea Robotics and Offshore Projects Group [1][2]. Financial Performance - Adjusted profit for Q1 2025 was 43 cents per share, surpassing the Zacks Consensus Estimate of 36 cents and significantly up from 14 cents in the same quarter last year [1]. - Total revenues reached $674.5 million, exceeding the Zacks Consensus Estimate of $664 million and reflecting a year-over-year increase of approximately 12.6% from $599.1 million [1]. Segment Performance - **Subsea Robotics**: Revenues totaled $206 million, up from $186.9 million year-over-year, but missed the estimate of $214.2 million. Operating income was $59.6 million, an increase from $44.2 million, but also below the estimate of $64.1 million [3][4]. - **Manufactured Products**: Revenues increased to $135 million from $129.5 million year-over-year, beating the estimate of $129.6 million. However, operating profit decreased to $8.7 million from $13.2 million, missing the estimate [4][5]. - **Offshore Projects Group**: Revenues surged by about 43.4% to $164.9 million from $115.1 million year-over-year, exceeding the estimate of $151.9 million. Operating income rose to $35.7 million from $0.8 million, also beating the estimate [6]. - **Integrity Management & Digital Solutions**: Revenues increased to $71.4 million from $69.7 million year-over-year, surpassing the estimate. Operating income slightly decreased to $3.5 million from $3.6 million, matching the projection [7]. - **Aerospace and Defense Technologies**: Revenues fell to $97.2 million from $98 million year-over-year, missing the estimate. Operating income dropped to $10.7 million from $12.8 million, also below the estimate [8]. Capital Expenditure and Balance Sheet - Capital expenditure for Q1 2025, including acquisitions, totaled $27.8 million. As of March 31, 2025, OII had cash and cash equivalents of $382 million and long-term debt of approximately $483.3 million, resulting in a debt-to-total capital ratio of 38.3% [9]. Outlook - OII expects full-year 2025 EBITDA to be in the range of $380 million to $430 million, with consolidated revenues projected to increase in Q2 2025 compared to Q2 2024. The company anticipates improvements in operating profitability across several segments [10][11][12].

Core Insights - The oil/energy sector is experiencing significant challenges in Q1 2025 due to fluctuating commodity prices and market uncertainties, with oil prices declining and natural gas prices increasing, creating a mixed environment for companies in this sector [1] Oil Price Performance - In Q1 2025, the average price of West Texas Intermediate crude fell to $71.84 per barrel, down from $77.56 in the previous year, driven by concerns over weaker global economic growth, increased supply from non-OPEC+ nations, and lower-than-expected demand [2] - Escalating trade tensions and rising oil inventories further pressured oil prices [2] Natural Gas Price Trends - Natural gas prices increased significantly, with the Henry Hub spot price averaging $4.15 per million British thermal units (MMBtu), up from $2.13 per MMBtu in the prior-year quarter, primarily due to colder weather boosting heating demand and rising LNG exports [3] Earnings Outlook for Oil/Energy Sector - Oil/energy companies in the S&P 500 are projected to report an 11.1% year-over-year earnings decline for Q1 2025, continuing a downward trend from the previous quarter [4] - In contrast, the broader S&P 500 is expected to see a 6.8% earnings increase, highlighting the underperformance of the oil/energy sector [5] Revenue Trends - Revenue for oil/energy companies is projected to decline by 0.4% year-over-year, while S&P 500 revenues are on track to grow by 3.9%, indicating struggles in maintaining top-line growth in a changing commodity environment [6] Margin Compression - The earnings drag from lower oil prices continues to dominate despite higher natural gas prices, compressing margins and making it difficult for companies to deliver consistent results [7][9] Sector Performance Comparison - Other sectors, such as Technology (+12.5%), Medical (+34.7%), and Utilities (+14.1%), are experiencing strong earnings growth, while the oil/energy sector remains the worst performer alongside other weak sectors like autos and basic materials [8] Company-Specific Earnings Insights - TechnipFMC plc (FTI) has an Earnings ESP of -0.92% and a Zacks Rank 3, indicating low chances of an earnings beat, with a consensus estimate of 36 cents per share, suggesting a 63.64% increase from the prior year [11][13] - Valero Energy Corporation (VLO) has an Earnings ESP of -14.71% and a Zacks Rank 3, with a consensus estimate of 43 cents per share, indicating an 88.74% decrease from the prior year [13] - RPC, Inc. (RES) has an Earnings ESP of 0.00% and a Zacks Rank 3, with a consensus estimate of 7 cents per share, suggesting a 46.15% decrease from the prior year [14][15] - CNX Resources Corporation (CNX) has an Earnings ESP of -2.96% and a Zacks Rank 3, with a consensus estimate of 65 cents per share, indicating a 44.44% increase from the prior year [16][17]

In the last reported quarter, the Houston, TX-based oil and gas equipment and services company's earnings beat the consensus mark, driven by improved performance of the Subsea segment. FTI reported adjusted earnings per share of 54 cents, which surpassed the Zacks Consensus Estimate of 35 cents. Moreover, revenues of $2.4 billion marginally beat the Zacks Consensus Estimate by 3.1%. FTI's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 48.65%. (Fi ...

Core Insights - Core Laboratories Inc. (CLB) is expected to report first-quarter 2025 results on April 23, with a consensus estimate of 15 cents per share in profit and revenues of $124.1 million [1] Recent Performance - In the last reported quarter, CLB's adjusted earnings were 22 cents per share, missing the consensus estimate by 1 cent, primarily due to poor performance in the Production Enhancement segment [2] - Operating revenues for the last quarter were $129.2 million, which also fell short of the Zacks Consensus Estimate by 1.3% [2] - Over the trailing four quarters, CLB has beaten the consensus estimate twice, matched once, and missed once, with an average surprise of 4.79% [3] Earnings Estimates - The Zacks Consensus Estimate for first-quarter 2025 earnings has been revised downward by 11.8% in the past 30 days, indicating a 21.1% year-over-year decline [3] - Revenue estimates for the upcoming quarter also reflect a decline of 4.3% compared to the same period last year [3] Revenue Projections - Revenues are expected to decline due to weak performance in both the Reservoir Description and Production Enhancement segments [5] - Reservoir Description segment revenues are projected to decrease by 1.7% year-over-year to $82.8 million, influenced by global economic uncertainties and severe weather conditions [5] - Production Enhancement segment revenues are anticipated to drop by 8.6% year-over-year to $41.5 million, affected by freezing conditions impacting U.S. drilling activities [5] Cost Management - CLB's total operating expenses for the first quarter are expected to be $113.2 million, down 6.5% from the previous year [6] - Costs associated with services and product sales are projected to decrease from $104.6 million to $101.7 million, while general and administrative expenses are expected to decline from $11.8 million to $10.1 million [6] Earnings Prediction Model - The current model does not predict an earnings beat for CLB this season, as it lacks a positive Earnings ESP and holds a Zacks Rank of 4 (Sell) [8][9] - CLB's Earnings ESP stands at +2.27%, indicating a slight potential for earnings surprise, but overall expectations remain low [9]

Core Insights - Nabors Industries Ltd. (NBR) is a significant player in the global energy sector, specializing in drilling services for oil and gas wells, with a strong reputation for advanced technology and equipment [1] - The company operates in four main segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies [1] Business Expansion - NBR is expanding its operations in international markets, particularly in Saudi Arabia, Argentina, and Kuwait, with long-term contracts that ensure steady revenues [4] - The joint venture with Aramco in Saudi Arabia is projected to double earnings by 2025, providing stability to cash flow [4] Financial Performance - The Drilling Solutions segment reported a 54% gross margin, while Rig Technologies experienced a 51% sequential EBITDA increase due to strong demand for capital equipment in the Middle East [5] - The acquisition of Parker Wellbore is expected to unlock $35 million in synergies, enhancing NBR's presence in key global drilling markets and improving financial outlook [6] Pricing Power - NBR has maintained stable leading-edge pricing for its high-performance rigs in the Lower 48, ensuring sustained pricing power and competitive daily margins despite market fluctuations [7] Market Recovery Potential - A rebound in drilling activity, particularly in response to rising oil prices, could lead to increased rig demand, positioning NBR favorably for market recovery [8] Cash Flow Risks - NBR faces cash flow risks due to a $50 million payment delay from a major client in Mexico, which could strain liquidity and impact capital allocation plans [9] - Pemex's budget cuts may further disrupt revenues from Mexico [9] Macroeconomic Challenges - Global economic conditions, including potential recessions and fluctuating energy prices, could influence capital spending by oil and gas companies, negatively impacting NBR's revenues and profitability [10][11] Investment Considerations - Heavy investments in the SANAD project may strain finances in the short term, despite the potential for future earnings [11] - NBR has underperformed compared to peers, with competitors like NOV facing significant selling pressure [12] Conclusion - NBR is experiencing strong growth driven by international expansion and robust performance in its segments, but faces challenges such as cash flow risks and macroeconomic uncertainties [16][17] - A hold strategy may be advisable for investors until a more favorable entry point is identified [18]

Core Insights - TechnipFMC plc (FTI) has secured an integrated Engineering, Procurement, Construction and Installation (iEPCI) contract from Shell plc for the Gato do Mato greenfield development project offshore Brazil, valued at over $1 billion, marking a significant milestone in their collaboration [1][4][11] Group 1: Project Overview - The Gato do Mato project is located in Brazil's deepwater Campos Basin and aims to enhance production in a prolific oil-producing region [2] - FTI will be responsible for the complete integrated execution of the development, utilizing advanced subsea technologies and experience, including Subsea 2.0 configure-to-order (CTO) production systems [2][3] Group 2: Technological Innovation - Subsea 2.0 technology enhances flexibility and efficiency of subsea infrastructure, driving down costs and accelerating project delivery [3] - FTI's implementation of CTO systems allows for customization of subsea production equipment, improving overall project performance and reliability [3][7] Group 3: Partnership Strength - The contract reflects the strong partnership between FTI and Shell, which has lasted over three decades, emphasizing their successful collaboration and delivery record [4][11] - FTI's ability to integrate innovative solutions is crucial for the timely execution of complex offshore projects like Gato do Mato [4][10] Group 4: Project Execution and Efficiency - The iEPCI model is designed to optimize project delivery, streamlining processes to reduce the timeline from conception to production [5][6] - FTI's commitment to excellence in project management and the use of Subsea 2.0 technology positions the Gato do Mato field for a swift ramp-up to full production [5][6] Group 5: Industry Impact - The Gato do Mato development will contribute to increasing production from Brazil's offshore sector, reinforcing the country's position as a leading oil producer globally [9][10] - FTI's ongoing commitment to technological innovation and efficiency positions it as a trusted partner for major energy companies in Brazil [10][11]

Financial Performance - As of March 7, 2025, the company's share price was $25.49, with 2.6 million diluted shares outstanding, resulting in an equity value of $67 million[10] - The company's enterprise value is $66.5 million, calculated with total debt of $8.1 million, non-controlling interest of $17.3 million, and cash of $25.9 million[10] - FY 2024 Adjusted EBITDA Less Share-based Compensation was $19.5 million, and Free Cash Flow was $11.9 million[10] - The company's net debt (cash) is $(17.7) million, with a total debt to total book capitalization ratio of 6.6%, and net working capital of $56.4 million[10] - Q4 2024 total revenue was $45 million, a 28% increase compared to Q4 2023, with a 43% adjusted gross margin, up from 37% in Q4 2023[39] - The company's net income attributable to NCS was $3.5 million, with earnings per diluted share of $1.32, and adjusted EBITDA of $8.2 million, an increase of $5.7 million compared to Q4 2023[39] - Full year 2025 financial guidance includes total revenue of $165-$175 million, a year-over-year increase of 5% at the midpoint, and adjusted EBITDA of $20-$23 million[42] Business Strategy and Operations - The company has expanded its addressable market, with revenue increasing from $98 million in 2016 to $163 million in 2024, and customer base growing from over 140 to over 200[30] - The company is focused on leveraging its market positions, expanding internationally, and providing innovative solutions to customer challenges[34]

Core Insights - Canadian Natural Resources Limited (CNQ) reported fourth-quarter 2024 adjusted earnings per share of 66 cents, missing the Zacks Consensus Estimate of 69 cents, and down from 97 cents in the previous year due to lower natural gas prices and increased expenses [1] - Total revenues for the quarter were $6.8 billion, down from $7 billion year-over-year, primarily due to increased royalty expenses, but exceeded the Zacks Consensus Estimate of $6.4 billion due to higher product sales [2] Financial Performance - CNQ's net earnings for the fourth quarter were approximately C$1.1 billion, with adjusted net earnings from operations around C$2 billion [6] - Cash flows from operating activities totaled approximately C$3.4 billion, while adjusted funds flow reached approximately C$4.2 billion [6] - Total expenses in the quarter were C$7.9 billion, an increase from C$6.6 billion in the prior year, driven by higher transportation, blending, and feedstock costs [17] Shareholder Returns - The board approved a 4.4% increase in the quarterly cash dividend to 58.75 Canadian cents per share, payable on April 4, 2025 [3] - In 2024, CNQ returned approximately C$7.1 billion to shareholders, comprising C$4.4 billion in dividends and C$2.7 billion through share repurchases [8] Production and Operational Highlights - CNQ reported quarterly production of 1,470,428 barrels of oil equivalent per day (Boe/D), a 3.6% increase from the prior year [9] - Natural gas production volumes totaled 2,283 million cubic feet per day (MMcf/d), up 2.3% year-over-year [10] - The company achieved record quarterly production in its Oil Sands Mining and Upgrading operations, reaching 534,631 barrels per day of synthetic crude oil [13] Cost Management and Capital Expenditure - Capital expenditure for the quarter was C$1.3 billion, compared to C$1 billion a year ago [17] - The company achieved industry-leading annual operating costs for Oil Sands Mining and Upgrading at C$20.97 per barrel in the fourth quarter [15] Balance Sheet and Debt - As of December 31, CNQ had cash and cash equivalents of C$131 million and long-term debt of C$16.4 billion, with a debt to total capital ratio of about 50% [18] Future Guidance - For 2024, CNQ expects a 12% increase in production, targeting a range of 1,510 MBOE/d to 1,555 MBOE/d, and anticipates a 14% rise in natural gas production [19]

As filed with the Securities and Exchange Commission on October 1, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Leishen Energy Holding Co., Ltd. (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 3533 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Cl ...