You can put al the lipstick you want on a pig...but it is still a pig.
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Couple years back they with held all payments at end of year close. Eked out a small free cash flow. 60 days later they filed for bankruptcy. This is the same scenario. BK by the end of the year. Interest rates rising, WFT high credit risk. With current situation....borrowing costs will only go up. This one is done. Bad management, loss of expertise thru experienced employee layoffs, and no cash other than dwindling credit line equals one less oilfield service company.
Pigs across the world are pisssed at the comparison you are making!!
You’ll see it next quarter...gotta pay those bills. Bad quarter to come. Play catch up on all those unpaid bills.....or the vendors will cut you off. COD on all .......WFT can’t do that......Chapter 22 coming soon. Along with lots of layoffs. Sad
Maybe. But I’ve been hearing that line for five years.
They may have free cash flow, but it’s only because they don’t pay their suppliers. It will catch up to them. They are done by the end of the year.
Biggest pig. Weeble. Aka. Bingo wings.
Not great, but an improvement. Cash flow positive.