Forbes Energy Services Ltd. (FES), an oilfield services contractor, reported narrower-than-expected loss for the fourth quarter of 2013. Loss per share in the quarter was 19 cents, an improvement over the Zacks Consensus Estimate of a loss of 22 cents. The bottom-line result was driven by margin expansion.

For 2013, Forbes Energy reported loss per share of 65 cents, which compared unfavorably with earnings per share of 4 cents in 2012. However, reported loss was narrower than the Zacks Consensus Estimate of a loss of 67 cents per share.

Revenues: In the fourth quarter of 2013, total sales for Forbes Energy were $109.7 million, up 2.5% year over year. Revenues also beat the Zacks Consensus Estimate of $105.0 million.

For 2013, the company reported revenues of $419.9 million, down 11.1% year over year. However, revenues beat the Zacks Consensus Estimate of $415.0 million.

Segment Details: In the reported quarter, revenues from the Well Servicing segment was $65.1 million, an increase of 34.0% compared with the year-ago quarter. Higher prices of the well service rigs and increased coiled tubing activities led to the improvement.

Revenues from Fluid Logistics segment came in at $44.6 million, down 23.7% year over year, due to a reduction in truck volumes.

Margins: General and administrative expenses amounted to $7.3 million, against $7.4 million recorded in the fourth quarter of 2012. Forbes Energy’s adjusted earnings before interest, taxes, depreciation and amortization (:EBITDA) in the quarter improved 25.6% to $18.0 million from $14.4 million in the year-ago quarter.

Balance Sheet: Exiting the fourth quarter of 2013, Forbes Energy’s cash were approximately $26.4 million, compared with $17.6 million in the year-ago quarter. Total debt balance stood at $299.6 million against $306.3 million in the fourth quarter of 2012.

Forbes Energy currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a look in the industry include NN Inc. (NNBR), Enterprise Products Partners L.P. (EPD) and Worthington Industries Inc. (WOR). While NN Inc. sports a Zacks Rank #1 (Strong Buy), Enterprise Products and Worthington Industries carry a Zacks Rank #2 (Buy).

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