Superior Well Services (SWSI) is an oil-field services company that provides oil and gas companies with technical pumping and down-hole surveying services. Superior operates in the large oil and natural gas producing regions of the United States. They have 25 service centers around the United States that provides coverage across 38 states.
On November 6, Superior announced its third quarter earnings. Revenues increased 40.3% to $94.3 million as compared to $67.2 million for the three months ended September 30, 2006. Operating profit increased 23.9% to $18.9 million for the three months ended September 30, 2007; as compared to the three months ended September 30, 2006. Net income increased 24.2% to 11.6 million for the three months ended September 30, 2007. Diluted earnings per share increased $0.02 to $0.50.
According to analysts' earnings estimates, Superior should earn $1.85 a share this year and $2.17 next year (17% increase) giving it a forward P/E of around 9.5. Superior has 23,479,000 shares outstanding and a market cap of $485 million. Some of its competitors include W-H Energy Services and Basic Energy Services.
This Company went public a little over 2 years ago. During that time they've increased earnings over 10% year over year. If you are looking for a mid-cap energy services play, Superior Well Services is a stock to look at. If Superior can take away market share from some of the larger oil-services companies, its share price will be greatly rewarded.