Home Equities Score Why Exterran Corporation (EXTN) stock rose in Friday’s aftermarket?

Why Exterran Corporation (EXTN) stock rose in Friday’s aftermarket?

Shares of Exterran Corporation (EXTN) stock were high in the after-market session on Friday,May 8, 2021, after dropping by 0.53% having $3.76 per share price at closing. EXTN stock price saw a push of 6.65% to reach $4.01 a share in the late hours of Friday. This rise is not attributed to any recent particular activity of the EXTN stock. Let’s deep dive to explore more of it.

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What’s happening?

There is no particular news announced by the EXTN stock on Friday to justify the bullish sentiment in the late hours trading session. No signs of recent upgrades by the analysts to explain the rising trend. The recent announcement made by EXTN stock was on May 4, 2021, in which EXTN stock announced first quarter 2021 results the brief highlights of which are given below.

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First Quarter 2021 Financial Highlights:

  • EXTN stock suffered a net loss of $29.0 million or $0.88 per share, on $136.2 million in revenue in the first quarter of 2021 from its continuing operations as compared to a net loss of $33.9 million, or $1.03 per share, on $151.7 million in revenue in the fourth quarter of 2020 from its continuing operations.
  • The overall net loss for EXTN stock was $29.9 million in the first quarter of 2021 as compared to a net loss of $18.3 million in the same quarter of the prior year and a net loss of $33.4 million in the fourth quarter of 2020.
  • Selling, general and administrative expenses for the EXTN stock in the first quarter of 2021 reached $32.6 million while these were $33.6 million in the same quarter of the previous year.
  • Exterran generated $81.0 million in revenue for the Q1 of 2021 from the contract operations which represents a 15% decrease from the same quarter revenue of the previous year.Aftermarket services revenue totaled $25.1 million which represents a decrease of 10% from the same quarter of the prior year.
  • EXTN stock signed a $200 million worth contract via its Exterran Water Solution business in the first quarter of 2020.
  • Full year Adjusted EBITDA guidance for EXTN stock was estimated in the range of $150million to $160 million.

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Conclusion:

EXTN stock price rose in the extended hours after facing a drop in the last trading session. Recent contracts and increase guidance points to the growth of EXTN stock in the future. However, investors should be mindful of the Exterran fundamentals, balance sheet, and growth prospects before adding this stock to the portfolio.

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