Key Energy leaders are hoping for better results in 2Q earnings report

Key Energy Services, Inc. is preparing to release its second quarter 2019 earnings report.

The information will be released before the market opens on Monday, Aug. 12, 2019.  Leadership plans to hold a conference call the same day at 10 a.m. Central Time to discuss the results.

Key’s President and Chief Executive Officer, Rob Saltiel expected financial improvements after the first quarter earnings report was released in May showing consolidated revenues of $109.3 million and a net loss of $23.4 million or $1.15 per share. The company had reported consolidated revenues of $117.3 million and a net loss of $23.1 million in the fourth quarter of 2018.

“Our results in the first quarter of 2019 benefited from generally higher service prices and further reductions in our cost structure, offset in part by a slow start to completions activity, significant weather impacts and the payment of employment-related taxes. With higher oil prices and the seasonal improvements in weather and daylight hours, we expect our activity to improve across all business segments in the second quarter,” stated Saltiel at the time of the release of the first quarter earnings report.