Key Energy Services, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
May 13, 2020 at 05:00 pm EDT
Share
Key Energy Services, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 75.308 million compared to USD 109.273 million a year ago. Operating loss was USD 53.074 million compared to USD 15.312 million a year ago. Net income was USD 108.994 million compared to net loss of USD 23.441 million a year ago. Basic earnings per share was USD 26.66 compared to basic loss per share of USD 57.59 a year ago. Diluted earnings per share was USD 11.82 compared to diluted loss per share of USD 57.59 a year ago.
Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies and independent oil and natural gas production companies. The Company's segments include Rig Services, Fishing and Rental Services, and Coiled Tubing Services. The Rig Services segment includes the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells. The Fishing and Rental Services segment offers a line of fishing services and rental equipment designed for use in providing both onshore drilling and workover services. The Coiled Tubing Services segment involves the use of metal pipe spooled onto a large reel which is then deployed into oil and natural gas wells to perform various applications.
KEY ENERGY SERVICES, INC. 
