Member Info for Aucuba

Now back to where it was last November and still a ways to go. Shorts are also increasing i believe.

Not seeing this moving much to the upside. I expect this to trend lower in the coming days/weeks

HappyInvestor100

Retirement just seesm to give me more time to look at how badly my shares are doing at the moment. I'm not selling at this level. I think this is overdone but there again I've been here (and lower) before. Some of this may be linked to the gutting of PFC shares on teh back of some bad press which Wood were very loosely linked to spome years back. If I remember correctly PFC are being investigated over bribes with some outfit and Wood volunteered to teh investigation they had dealings with the company. Names and precise details evade me.

I totally agree with this assessment.

I worked for Wood for many many years before retiring middle of last year. Their diversification out of oil and gas had been a core strategy for many years and the acquisition of AFW was a key point for them in getting the experience of other markets. The sale of the nuclear business was not a major surprise. It was always a drain on management resources and I believe the company took a fess years post aquisition just to settle and understand completely what they had bought.

Margins in the oil and gas services business are dreadful with service companies being squeezed on all downward oil price movements and very little movement up when things recovered. Oil price and COVID have provided real challenges for a company trying to transform their business but I think they are about there with most new contracts not being in oil and gas arena.

Margins in their consultancy piece are much more lucrative - oil and gas services need much more volume to result in the same £ return to the bottom line. As you say the old oil companies now pushing into green will help Wood immensely as they leverage past and present relationships.

2021 order book is indeed not as high as I would like but expect a lot of opportunities are sitting in clients filing cabinets until such time as the overall market conditions improve.

Hanging in there!

Dont think the buying volume supports that thought does it?

It's OK I found out the EQT interest but cant's answer your question. Seems to indicate there would be some news on it at the end of 2020 but suspect thats delayed like lots of other things at the moment.

Really finding it difficult to understand this one. Price moved up nicely yersterday on teh back of a pretty flat market and today it nosedives and wipes out more than yesterday's gains with the market seeming to move in the other direction.

Sorry Criag but what's EQT?

Credit Suisse cuts while Berenger raises!!

I agree with coaster on this. It was always made clear the proceeds from the disposal of the nuclear business would be used to buy down debt and the drop in revenue was as predicted in my opinion given the backdrop.
I also noted from teh call theres was a $300m advance unwind and while cost savings have contributed to better result overall they seem to be saying 1/3 pf the savings are temporary while the savings were only over a nine monthh period so that may come out as a wash.
Margins are pretty good in teh consulting area but poor in others.
Diversification is going well all things considered and lump sum work (drain for them in teh past with overruns etc.) has reduced from 35% of portfolio to aroung 25% with that expected to reduce further.

I do however see the price going down so maybe my rreading of everything is wrong!!!!

Agreed. Dont need any major surprises in the trading update on Thursday. I would also like to see something about improving margins and reduction in the debt.
Wood has been winning new work (including today's announcement) and almost all of it from outwith teh oil and gas sector which i think is good progress on their diversification plans and the lack of any dividend payments in 2020 should have an impact on debt.

Its been in the 2-3% range since late November but doesnt seem to move the needle substantially

I'm not that well versed in all the shorting stuff so not sure what this means.

Lots of selling going on. Shorts down slightly. Suspect some profit taking given teh recent increase. Agree patience is necessary here. It will be interesting to see what comes out of the 2020 trading update. Some reports the other day about reinstating dividend early in 2021 but at a much lower level. I'm really in this for the dividend at this stage so interested in that. Share price movement is a secondary for me although i obviously would like to see it move in the right direction.

£17M bought today according to this site. Surely not!

Having said all that oil price has moved in a positive direction over the last two days and Wood has declined both days

I believe oil and gas services are about 35% of revenue. Renewables, downstream and chemicals and built environment accounts for 65% so assuming balance is oil and gas support services.

Different closing price from different sources. My last post was based on google finance and showed a closing price of 224.02 but apparently it was down on the day closing at 216.8 according to the LSE site!!

Too quick to post that last one! Held up well in the last hour of trading

Overall market didn’t manage to drag this one higher today. Other than the broker rating which was early morning I can’t see why this lost steam and finished down on the day.