Key Energy sees lower Q3 revenues, shares -6.2%

|About: Key Energy Services, Inc. (KEG)|By:, SA News Editor

Key Energy (KEG -6.2%) shares slide as it makes its presentation at the Barclays CEO Energy-Power Conference; among the key points:

Q2 pricing for U.S. services is generally stable vs. Q2.

Q3 U.S. revenues are expected 2%-4% lower Q/Q as equipment, primarily, vacuum trucks, coiled tubing units and frac stacks, are redeployed due to transitory changes in customers programs.

U.S. operating income margins are seen 100-200 bps lower Q/Q.

Based on 35-40 rigs average rigs working outside the U.S., international operating income margins are expected to range from a 5% loss to breakeven.