Thanks!
SDE’s price saw a significant drop following the Q3 earnings release. EPS came in at $0.07, missing analysts’ estimates of $0.12. Revenue came in at $75.9M and was down -76% year-over-year. Revenue is expected to drop 70% on average during the next three years. Net income was $9.01, down -97% year-over-year. SDE is down so much year-over-year due to the Logan Energy spinoff, so the quarter looks worse than it actually was, but the market did not like these results, as investors were expecting more in the first gauge of business after the spin out. The miss also prompted a broker downgrade.