I view the deal as a positive for Quanta in the medium-term, in conjunction with its buyback plan increase and the positive U.S. shale boom continues to battle OPEC with increased production. While upstream oilfield services providers continue to face a brutal pricing environment, CEO Austin’s positive outlook on ‘industry dynamics’ is cause for optimism in the midstream and downstream markets, which promise to grow significantly as the U.S.
STRONGHOLD LTD FREE
Stronghold's recurring revenues, accretive operating income margin profile and strong free cash flow generation align well with our strategic imperatives for long-term profitable growth. With positive industry dynamics, visible cross-selling opportunities and Quanta's support, we believe there is a multi-year opportunity for Stronghold's operations to achieve double digit growth. We remain positive on our 2017 and multi-year outlook and believe Stronghold is a strategic acquisition that will allow us to capture a greater portion of the energy industry operating and capital spend.
The deal is a significant one for $5 billion market cap Quanta.Īs Duke Austin, President and CEO of Quanta stated in the deal announcement,
STRONGHOLD LTD SOFTWARE
on average during the next 2 years, compared to a 12 growth forecast for the Software industry in the US. STRONGHOLD COMPANIES LTD GENERAL SAFETY & HEALTH ORIENTATION. is a holding company consisting of three specialty companies that work in tandem to provide the refining and petrochemical. Looking ahead, revenue is forecast to grow 21 p.a. Health and Safety Council HomeTraining Course Catalog Course Details. Earnings per share (EPS) also missed analyst estimates significantly. Quanta management expects accretion to increase in 2018, but did not provide an estimate as to how much. Stronghold Digital Mining Revenues and Earnings Miss Expectations. Quanta paid $360 million in upfront cash and 2.7 million shares of its common stock valued at $90 million.Īdditionally, Stronghold shareholders may earn an additional amount of up to $100 million ‘if cumulative three-year EBITDA targets are achieved.’Īs of Quanta’s Ma10-Q, the firm had $106.5 million in cash and equivalents, accounts receivable of $1.59 billion and total liabilities of $2.14 billion.Ĭash flow from operations in 1Q 2017 was negative $3.8 million compared to positive $205.8 million in 1Q 2016.Īs to financial effects from the deal, it appears to be accretive to GAAP diluted EPS by $0.02 to $0.03 per share in 2017. petrochemical regions and said that the existing management team will continue in place under CEO Joe Durham as a ‘platform operating unit of Quanta.’ The combined groups have 2,800 employees and provide a wide range of services to the refining and petrochemical industry including: La Porte, Texas-based Stronghold was founded in 2002 and is headed by CEO Joe Durham. Quanta’s acquisition of Stronghold portfolio of services promises to take advantage of increased energy production trends in the U.S. and Stronghold Specialty operate ten specialty services companies that serve the midstream and downstream oil & gas markets across most of the U.S. Taxes, fees not included for deals content.Contracting services company Quanta Services ( NYSE: PWR) has acquired the Stronghold family of companies for cash and stock valued at $450 million. If you have any questions or suggestions regarding this matter, you are welcome to contact our customer support team.īusinessYab is not a booking agent, and does not charge any service fees to users of our site.īusinessYab is not responsible for content on external web sites. The brand names, logos, images and texts are the property of these third parties and their respective owners.
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