tag:blogger.com,1999:blog-1527840491496268397.post5849848405726484757..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Conrad Industries Releases 2012 Annual Report ($CNRD)Unknownnoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1527840491496268397.post-86243813296393545422013-05-01T06:39:29.131-07:002013-05-01T06:39:29.131-07:00"the tank barges have just been tiding them o..."the tank barges have just been tiding them over"<br /><br />Nice punOlmstedhttps://www.blogger.com/profile/02942062471837025562noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-20900465792197742862013-04-29T21:38:18.905-07:002013-04-29T21:38:18.905-07:00If you figure that the capex will be ~ paid for by...If you figure that the capex will be ~ paid for by the BP settlement and some existing cash on hand, and the working capital needs won't increase, then there should be a fairly substantial amount of cash available for distribution/buybacks this year. $40mm in EBITDA would be enough for a $4 dividend (after tax), or enough to buy back a million shares (shrink by 17%!).CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-12808042110392820412013-04-29T21:28:32.222-07:002013-04-29T21:28:32.222-07:00Definitely. The single figure that I paid most att...Definitely. The single figure that I paid most attention to in their last few financials is the margin from the repairing work. <br /><br />Anyway, I'm just amazed there are additional icing on the cake that I've never dreamed of. When they come free, we won't complain, will we? :-)Johnhttps://www.blogger.com/profile/14682393043392310140noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-25486507748844700752013-04-29T21:22:04.262-07:002013-04-29T21:22:04.262-07:00And the GOM repair work is basically just now pick...And the GOM repair work is basically just now picking up after the ban.<br /><br />P.S. Did anyone notice that they did $12mm EBITDA in Q4? What if they do close to $300mm revenue this year?CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-88580913794436807082013-04-29T21:21:02.500-07:002013-04-29T21:21:02.500-07:00I think the most neglected factor is that the tank...I think the most neglected factor is that the tank barges have just been tiding them over, while GOM oil services <i>repair</i> work is less competitive and should have much higher margins.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-67468469068757428282013-04-29T21:19:37.933-07:002013-04-29T21:19:37.933-07:00Yeah, mainly on the point about fracking waste wat...Yeah, mainly on the point about fracking waste water which I was not aware of.Johnhttps://www.blogger.com/profile/14682393043392310140noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-86369238828545571232013-04-29T21:16:26.217-07:002013-04-29T21:16:26.217-07:00You mean these two points?:
First, "the Coas...You mean these two points?:<br /><br /><i>First, "the Coast Guard last month quietly sent to the White House's Office of Management and Budget a proposal to allow the barging of fracking wastewater. If the plan is pushed forward, it would become a proposed rule open for public comment and could be finalized sometime in the near future." This has huge potential to increase demand for double hulled barges (CNRD's specialty) in the near/medium term.<br /><br />Second, offshore drilling in the gulf of Mexico is bouncing back back from its lows (as shown in CNRD's financials - the breakdown of sales to the oil industry).</i>CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-15406651759971750992013-04-29T19:14:24.803-07:002013-04-29T19:14:24.803-07:00Great post. Interesting thoughts on incremental RO...Great post. Interesting thoughts on incremental ROE. <br /><br />Did you notice the last comment by tw1010 on the SA post? <br /><br />So many positive Black Swans and optionality are in play here. Amazing.Johnhttps://www.blogger.com/profile/14682393043392310140noreply@blogger.com