Friday, May 16, 2014
Nuverra Environmental Soluionts Inc. Is Stumbling Forward
The first quarter results for Nuverra Environmental Solutions (NYSE: NES ) are probably best described as a stumble forward. After a few years of weak results, the stock surged nearly 10% following the release of earnings that were better than feared, but not exactly strong.
The environmental solutions provider for the energy sector, built to benefit from the waste disposal of hydraulic fracturing fluids and water, is making noticeable steps in the right direction. The stock, though, is a noticeable laggard in an oilfield services sector generally on fire. Unfortunately for Nuverra, an accident with a large customer's well led to reduced spending that affected an already slow quarter due to severe weather.
Read the full article here.
Disclosure: Long NES. Please review the disclaimer page for more details.