Home  »  Market Insights   »  Ion Geophysical Corp. (IO) Stock Surges Following ...

Ion Geophysical Corp. (IO) Stock Surges Following Disclosure of Promising Financial Report for Q3 2021

Ion Geophysical Corp. (IO) stock prices dip by 0.71% as of the market closing on October 16th 2021. This brought the price per share down to USD$1.39. subsequent premarket fluctuations have seen the stock surge by 51.80%, bringing it up to USD$2.11.

Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report

Sponsored

Expected Financial Improvements

October 18th 2021 saw IO stock announce that it expects revenues for the third quarter of fiscal 2021 to be in the range of USD$44 million to USD$45 million. This represents an increase of roughly 125% as compared to the prior quarter and a 175% increase from the prior year period. The company also anticipates a substantial improvement in Adjusted EBITDA for the third quarter of fiscal 2021 in the range of USD$21 million to USD$22 million.

Solid Liquidity Position

At the end of the quarter, the company reported a promising liquidity position, with an improved total liquidity of roughly USD$35 million. This total comprised of USD$24 million in cash, which included net revolver borrowings in the amount of USD$19 million. The other USD$11 million was available to the company in borrowing capacity as a part of its revolving credit facility. E&P Technology & Services is expected to be USD$12 million, having been bolstered by the third, fully underwritten Phase of the company’s Mid NorthSea High 3D multi-client program, which it launched in September 2021.

IO Stock Builds on Success

The increased revenues for the third quarter of fiscal 2021 are in line with the IO stock’s forecasts of momentum continuing to build throughout the fiscal year 2021. Both segments of the business reported stronger sales, but the increase is largely driven by the execution of the company’s 3D strategy. Despite the headwinds faced over the course of the year, the company has been able to increase its multi-client market share by almost 50%. This was facilitated by the company’s continued focus on new 3D assets, as evidenced by more than 50% of the quarter’s revenue having been generated by 3D data sales. These sales were conducted by two new acquisition campaigns in the North Sea, as well the company’s artfully remastered reimaging program offshore of Brazil.

Future Outlook for IO Stock

IO stock is poised to maintain the momentum it has managed to generate over the course of the fiscal year 2021 so far. The company is keen to push for the continued trajectory of success it has enjoyed recently. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal effectively. This is hoped to facilitate consistent and organic growth in shareholder value over the long term.

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts

385

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

The 5 Best Inflation Stocks for 2022

100% free. stop anytime no spam

Get our free report on the stocks that we recommend for investors who want to protect their portfolios from inflation.

Receive Best Stock To Trade Before The Opening Bell

 

 

100% Free. Stop Anytime. No Spam