Company profile

Ticker
PKD
Exchange
CEO
Gary G. Rich
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
730618660

PKD stock data

(
)

Calendar

4 Mar 20
7 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 156.28M 160.08M 156.03M 157.4M
Net income -2.12M 3.99M 4.64M -90.25M
Diluted EPS -0.14 0.27 0.31 -9.63
Net profit margin -1.36% 2.49% 2.97% -57.34%
Operating income 5.46M 15.98M 16.37M -89.32M
Net change in cash 3.85M -37.99M 11.25M
Cash on hand 104.95M 101.11M 139.1M 127.85M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 480.82M 442.52M 427M 712.18M
Net income -165.7M -118.7M -230.81M -95.07M
Diluted EPS -18.09 -13.4 -27.89 -0.78
Net profit margin -34.46% -26.82% -54.05% -13.35%
Operating income -113.4M -65.81M -111.26M -17.34M
Net change in cash -92.95M 21.86M -14.6M 25.84M
Cash on hand 48.6M 141.55M 119.69M 134.29M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
26 Mar 20 Collins Bryan Ray Common Stock Sale back to company Dispose D No 30 5,772 173.16K 4,947
26 Mar 20 Duplantier Jon-Al Common Stock Sale back to company Dispose D No 30 7,322 219.66K 8,247
26 Mar 20 Duplantier Jon-Al Common Stock Option exercise Aquire M No 0 7,322 0 18,426
26 Mar 20 Duplantier Jon-Al Common Stock Option exercise Aquire M No 0 7,322 0 11,104
26 Mar 20 Duplantier Jon-Al Phantom Stock Units Common Stock Option exercise Dispose M No 0 7,322 0 14,644
26 Mar 20 Duplantier Jon-Al RSU Common Stock Option exercise Dispose M No 0 7,322 0 14,644
26 Mar 20 Simons Jennifer Fremont Common Stock Sale back to company Dispose D No 30 5,166 154.98K 3,925
26 Mar 20 Simons Jennifer Fremont Common Stock Payment of exercise Dispose F No 30 1,258 37.74K 9,091
26 Mar 20 Simons Jennifer Fremont Common Stock Option exercise Aquire M No 0 5,166 0 10,349
26 Mar 20 Simons Jennifer Fremont Common Stock Option exercise Aquire M No 0 5,166 0 5,183

Financial report summary

?
Risks
  • We recently emerged from bankruptcy, which may adversely affect our business and relationships.
  • Our actual financial results after emergence from bankruptcy may not be comparable to our historical financial information as a result of the implementation of the Plan and the transactions contemplated thereby.
  • Upon our emergence from bankruptcy, the composition of our board of directors changed significantly.
  • The volatility of prices for oil and natural gas has had, and may continue to have, a material adverse effect on our financial condition, results of operations, and cash flows.
  • Despite our current level of indebtedness, we may still be able to incur more debt. This could further exacerbate the risks associated with our indebtedness, including limiting our liquidity and our ability to pursue other business opportunities.
  • Our current operations and future growth may require significant additional capital, and the amount and terms of our indebtedness could impair our ability to fund our capital requirements.
  • Our backlog of contracted revenues may not be fully realized and may reduce significantly in the future, which may have a material adverse effect on our financial position, results of operations, or cash flows.
  • Certain of our contracts are subject to cancellation by our customers without penalty and with little or no notice.
  • Service contracts with national oil companies may expose us to greater risks than we normally assume in service contracts with non-governmental customers.
  • We derive a significant amount of our revenues from a few major customers. The loss of a significant customer could adversely affect us.
  • A slowdown in economic activity may result in lower demand for our drilling and drilling-related services and rental tools business, and could have a material adverse effect on our business.
  • The contract drilling and the rental tools businesses are highly competitive and cyclical, with intense price competition.
  • Rig upgrade, refurbishment and construction projects are subject to risks and uncertainties, including delays and cost overruns, which could have an adverse impact on our results of operations and cash flows.
  • Our international operations are subject to governmental regulation and other risks.
  • Our acquisitions, dispositions, and investments may not result in the realization of savings, the creation of efficiencies, the generation of cash or income, or the reduction of risk, which may have a material adverse effect on our liquidity, consolidated results of operations, and consolidated financial condition.
  • Failure to comply with anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010, could result in fines, criminal penalties, negative commercial consequences and an adverse effect on our business.
  • Failure to attract and retain skilled and experienced personnel could affect our operations.
  • We are not fully insured against all risks associated with our business.
  • We are subject to hazards customary for drilling operations, which could adversely affect our financial performance if we are not adequately indemnified or insured.
  • Government regulations may reduce our business opportunities and increase our operating costs.
  • Regulation of greenhouse gases and climate change could have a negative impact on our business.
  • The number and quantity of viable financing alternatives available to us may be significantly impacted by unfavorable lending and investment policies by financial institutions and insurance companies associated with concerns about environmental impacts of the oil and natural gas industry, on which our business depends, and negative views around our and our customer’s efforts with respect to environmental and social matters and related governance considerations could harm the perception of the Company by certain investors or result in the exclusion of our securities from consideration by those investors.
  • We are regularly involved in litigation, some of which may be material.
  • Increased regulation of hydraulic fracturing could result in reductions or delays in drilling and completing new oil and natural gas wells, which could adversely impact the demand for rental tools.
  • We may become a non-reporting company if we proceed with the Stock Splits.
  • Because our common stock is not listed on a national securities exchange, it is less liquid and its price may be negatively impacted by factors that are unrelated to our operations.
  • Certain shareholders own large portions of our outstanding common stock, which may limit your ability to influence our actions.
  • The corporate opportunity provisions in our certificate of incorporation could enable affiliates (as defined in our certificate of incorporation) of ours to benefit from corporate opportunities that might otherwise be available to us.
  • We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
  • Our certificate of incorporation designates the Court of Chancery in the State of Delaware (or, if and only if the Court of Chancery lacks subject matter jurisdiction, the federal district court for the District of Delaware) as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
  • We do not anticipate paying any dividends on our common stock in the foreseeable future.
  • Issuer Purchases of Equity Securities
Management Discussion
  • Our business is comprised of two business lines: (1) rental tools services and (2) drilling services. We report our rental tools services business as two reportable segments: (1) U.S. rental tools and (2) International rental tools. We report our drilling services business as two reportable segments: (1) U.S. (lower 48) drilling and (2) International & Alaska drilling. We eliminate inter-segment revenues and expenses.
  • We analyze financial results for each of our reportable segments. The reportable segments presented are consistent with our reportable segments discussed in our consolidated financial statements. See Note 17 - Reportable Segments in Item 8. Financial Statements and Supplementary Data for further discussion. We monitor our reporting segments based on several criteria, including operating gross margin and operating gross margin excluding depreciation and amortization. Operating gross margin excluding depreciation and amortization is computed as revenues less direct operating expenses, and excludes depreciation and amortization expense, where applicable. Operating gross margin percentages are computed as operating gross margin as a percent of revenues. The operating gross margin excluding depreciation and amortization amounts and percentages should not be used as a substitute for those amounts reported under accounting policies generally accepted in the United States (“U.S. GAAP”), but should be viewed in addition to the Company’s reported results prepared in accordance with U.S. GAAP. Management believes this information provides valuable insight into the information management considers important in managing the business.
  • Revenues were $472.4 million and $157.4 million for the nine months ended December 31, 2019, and the three months ended March 31, 2019, respectively, and $480.8 million for the year ended December 31, 2018. Operating gross margin was $56.7 million and $11.4 million for the nine months ended December 31, 2019, and the three months ended March 31, 2019, respectively, and a loss of $4.8 million for the year ended December 31, 2018.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: abandon, abandonment, abide, absorb, Academy, acre, administer, administered, admission, advice, advisor, Affinion, ALST, alteration, anniversary, Appalachian, Arch, Arco, arm, ascertain, ascribed, assumption, attendance, attended, Ave, Avenue, bachelor, background, Barry, basin, benchmarking, black, blocker, bode, bore, briefly, Brigade, BSM, Bucknell, buy, Cairo, Camp, candidate, care, Casino, cast, Cayman, cease, CEO, certificate, certified, certifying, CertusBank, CFO, Chair, Chamberlain, Chancery, Chartered, chemistry, chosen, Clarkson, clawback, Clear, CM, Coal, COBRA, COD, College, Columbia, column, commute, comparison, concentrated, concentration, conclusion, Concrete, conflict, conviction, criterion, culture, curve, decommissioned, deficit, deregister, deregistered, deregistration, diminution, disability, disease, divest, divestment, doctor, Doctorate, doctrine, Donald, Drivetrain, duty, education, effectuate, effectuated, effectuating, Elgin, Elm, Emerson, enable, encumbered, endowment, Entertainment, EOF, equitable, Esso, estate, ethical, Eugene, evidencing, exclusion, exclusive, explanatory, expressly, extraction, fact, Faculty, Faust, feasibility, felony, fiduciary, fka, Fontana, foot, forum, foster, friendly, fronting, fuel, fundamental, gaming, gathering, geophysical, George, Glasspoint, Goodrich, GP, Grambling, Grand, Great, grown, GSI, Harvard, HCM, Hexicon, Highbridge, Holdco, hostile, Hrdlicka, HRG, ICP, Ilfryn, implicit, inapplicable, inception, inconsistent, Indiana, Intertrust, intrinsic, Invesco, involuntarily, IPO, IRC, Iron, Jennifer, job, Jonathan, King, Lake, lapse, lapsed, LCSF, leadership, levied, Lily, linked, literate, Literature, LP, LTIP, Lutheran, LyondellBasell, Man, Marquette, Martin, matter, MBA, McMahan, membership, men, methodology, MIA, midpoint, Mike, misconduct, mix, MN, Monarch, Morgan, Mosaic, Nevada, Newfoundland, NextDecade, NOL, noncurrent, nonqualified, Norge, NY, Obsidian, opposed, outbreak, overpayment, overseeing, package, Paragon, Park, Paterson, Patrick, penalizing, pension, perpetual, Peter, PetroPro, PIRINATE, PKDC, play, pledged, plug, plurality, predecessor, prepay, prepayment, progressive, proper, Psychology, pure, Pyle, quantity, Quartz, questionnaire, Radio, reacquired, real, reassessed, recapitalization, recouped, recouping, Redan, reform, representation, reserve, reside, residual, Richard, Riley, Roust, royalty, RSU, SAExploration, salary, Samson, Sanchez, SAR, School, science, scrap, scrapped, scrapping, secondary, sector, Selim, send, Seneca, Shortly, Skyway, slight, Society, solar, Southwest, sovereign, SOX, spanning, SPE, Spectrum, Spencer, Sport, spouse, square, standing, steam, Store, stream, strike, subdivision, sublimit, succeed, succeeding, successor, superseded, Supplemental, supplemented, Syncora, Tactical, teamwork, Telford, tentatively, text, theoretical, thereon, threshold, Titan, Town, TPG, tranche, travel, treasury, Tribune, Trump, turnaround, turnover, UGP, UK, UMB, underutilized, unexercised, unfunded, universe, University, unrelated, unsubscribed, upstream, Vanguard, Vantage, VCPM, veto, viable, violation, VIP, voluntarily, WCI, wealth, Wesleyan, White, Whitebox, Wilmington, win, won, xi, Zaki
Removed: aimed, amortize, amounted, Arabia, assist, assumed, banking, caption, client, Coast, convertibility, curtailed, cut, decision, declined, decreasing, defeasance, depict, designating, discharged, discrete, doubt, earliest, erosion, escalation, exit, fluctuated, forecasted, guarantor, headcount, Hibernia, impacting, improved, Imputation, inclusion, inflation, introduce, ix, knowledge, leaseback, led, lesser, lowering, minimal, minimize, mode, multiplying, newly, noncontrolling, nonvested, notable, pace, partial, platform, point, promised, quantitative, rank, redeem, rent, shifting, Simplifying, speculative, spot, structuring, subordinated, twelve, unconditionally, unrestricted, vii, viii, write