RE: Press coverage20 Dec 2023 07:44
Dec 20 (Reuters) - Petrofac (PFC.L) said on Wednesday it expected its net debt to be higher at the year-end, due to a delay in securing advance payments on contracts and a subsequent increase of over $100 million in collateral for the guarantees.
The oilfield services provider, which has been struggling with payment delays and cost overruns at its largest unit - engineering and construction, had warned earlier this month that it would no longer be able to meet its annual forecast of "broadly neutral free cash flow".
Don't let the rampers get too excited... let the experts analyse the update
Most here are down 60% and will do anything to ramp
Be carful
Shorts still increasing.
9.5% now