Forbes Energy Services Ltd
OTC:FLSS
Income Statement
Earnings Waterfall
Forbes Energy Services Ltd
Income Statement
Forbes Energy Services Ltd
| Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||
| Interest Expense |
14
|
21
|
27
|
27
|
27
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
28
|
23
|
18
|
13
|
9
|
9
|
9
|
10
|
11
|
16
|
20
|
23
|
25
|
23
|
|
| Revenue |
262
N/A
|
378
+44%
|
446
+18%
|
483
+8%
|
492
+2%
|
490
0%
|
473
-4%
|
443
-6%
|
427
-4%
|
417
-2%
|
420
+1%
|
428
+2%
|
438
+2%
|
447
+2%
|
449
+0%
|
424
-6%
|
373
-12%
|
314
-16%
|
244
-22%
|
192
-21%
|
157
-18%
|
130
-18%
|
116
-10%
|
111
-4%
|
115
+3%
|
121
+6%
|
127
+5%
|
136
+7%
|
145
+7%
|
159
+9%
|
181
+14%
|
204
+13%
|
214
+5%
|
210
-2%
|
188
-10%
|
160
-15%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(200)
|
(289)
|
(335)
|
(357)
|
(359)
|
(359)
|
(355)
|
(339)
|
(329)
|
(325)
|
(324)
|
(329)
|
(338)
|
(340)
|
(341)
|
(319)
|
(280)
|
(239)
|
(192)
|
(162)
|
(141)
|
(120)
|
(104)
|
(98)
|
(98)
|
(101)
|
(107)
|
(113)
|
(122)
|
(132)
|
(147)
|
(163)
|
(172)
|
(174)
|
(160)
|
(142)
|
|
| Gross Profit |
63
N/A
|
90
+43%
|
111
+23%
|
125
+13%
|
133
+6%
|
131
-1%
|
118
-10%
|
104
-11%
|
98
-6%
|
92
-6%
|
96
+4%
|
99
+3%
|
100
+1%
|
108
+8%
|
108
+1%
|
105
-3%
|
93
-11%
|
75
-19%
|
52
-31%
|
30
-42%
|
16
-46%
|
10
-40%
|
12
+26%
|
13
+8%
|
17
+29%
|
20
+21%
|
20
-3%
|
23
+14%
|
24
+5%
|
27
+13%
|
34
+26%
|
40
+19%
|
41
+2%
|
36
-11%
|
29
-21%
|
18
-36%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(49)
|
(65)
|
(71)
|
(113)
|
(76)
|
(80)
|
(84)
|
(83)
|
(83)
|
(84)
|
(85)
|
(87)
|
(88)
|
(90)
|
(91)
|
(93)
|
(93)
|
(91)
|
(87)
|
(83)
|
(79)
|
(75)
|
(71)
|
(69)
|
(60)
|
(57)
|
(53)
|
(48)
|
(51)
|
(52)
|
(56)
|
(60)
|
(59)
|
(57)
|
(53)
|
(49)
|
|
| Selling, General & Administrative |
(21)
|
(27)
|
(31)
|
(36)
|
(31)
|
(32)
|
(33)
|
(30)
|
(30)
|
(30)
|
(30)
|
(31)
|
(33)
|
(34)
|
(36)
|
(37)
|
(37)
|
(35)
|
(32)
|
(28)
|
(25)
|
(22)
|
(19)
|
(18)
|
(16)
|
(18)
|
(19)
|
(20)
|
(22)
|
(22)
|
(25)
|
(27)
|
(27)
|
(26)
|
(24)
|
(23)
|
|
| Depreciation & Amortization |
(19)
|
(29)
|
(40)
|
(41)
|
(44)
|
(48)
|
(51)
|
(53)
|
(53)
|
(54)
|
(55)
|
(55)
|
(56)
|
(56)
|
(55)
|
(56)
|
(56)
|
(56)
|
(55)
|
(54)
|
(54)
|
(53)
|
(52)
|
(51)
|
(45)
|
(39)
|
(34)
|
(29)
|
(29)
|
(30)
|
(31)
|
(33)
|
(32)
|
(31)
|
(29)
|
(26)
|
|
| Other Operating Expenses |
(8)
|
(8)
|
0
|
(35)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Operating Income |
14
N/A
|
25
+79%
|
40
+59%
|
12
-69%
|
57
+366%
|
51
-10%
|
34
-35%
|
22
-36%
|
15
-30%
|
8
-45%
|
11
+30%
|
13
+16%
|
12
-8%
|
18
+56%
|
17
-6%
|
12
-30%
|
0
N/A
|
(16)
N/A
|
(35)
-117%
|
(53)
-51%
|
(63)
-20%
|
(65)
-3%
|
(59)
+9%
|
(56)
+6%
|
(44)
+22%
|
(37)
+15%
|
(33)
+10%
|
(26)
+22%
|
(27)
-6%
|
(25)
+10%
|
(22)
+11%
|
(20)
+10%
|
(18)
+9%
|
(20)
-12%
|
(25)
-22%
|
(31)
-25%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(14)
|
(20)
|
(27)
|
(27)
|
(27)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(28)
|
(23)
|
(18)
|
(13)
|
(9)
|
(9)
|
(9)
|
(10)
|
(11)
|
(16)
|
(20)
|
(23)
|
(25)
|
(23)
|
|
| Non-Reccuring Items |
(35)
|
(35)
|
(35)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(15)
|
(18)
|
(22)
|
(28)
|
36
|
39
|
43
|
50
|
0
|
0
|
0
|
0
|
0
|
(19)
|
(19)
|
(63)
|
|
| Total Other Income |
(7)
|
(7)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
(42)
N/A
|
(38)
+10%
|
(23)
+38%
|
(15)
+35%
|
30
N/A
|
24
-21%
|
6
-76%
|
(6)
N/A
|
(13)
-105%
|
(20)
-52%
|
(17)
+13%
|
(16)
+9%
|
(17)
-6%
|
(10)
+39%
|
(11)
-10%
|
(16)
-41%
|
(28)
-71%
|
(44)
-59%
|
(63)
-43%
|
(81)
-29%
|
(106)
-31%
|
(111)
-5%
|
(109)
+1%
|
(107)
+2%
|
(26)
+76%
|
(11)
+57%
|
2
N/A
|
15
+918%
|
(36)
N/A
|
(34)
+6%
|
(33)
+3%
|
(36)
-10%
|
(38)
-4%
|
(62)
-65%
|
(69)
-10%
|
(117)
-70%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||
| Tax Provision |
13
|
12
|
5
|
2
|
(14)
|
(12)
|
(3)
|
1
|
4
|
7
|
5
|
4
|
5
|
2
|
3
|
5
|
9
|
13
|
17
|
15
|
10
|
5
|
(0)
|
(0)
|
(0)
|
(0)
|
12
|
12
|
13
|
13
|
0
|
1
|
(0)
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
(28)
|
(26)
|
(19)
|
(14)
|
16
|
12
|
2
|
(6)
|
(9)
|
(13)
|
(13)
|
(12)
|
(12)
|
(8)
|
(8)
|
(11)
|
(19)
|
(31)
|
(46)
|
(66)
|
(96)
|
(106)
|
(109)
|
(107)
|
(26)
|
(12)
|
14
|
28
|
(24)
|
(21)
|
(33)
|
(36)
|
(38)
|
(62)
|
(68)
|
(117)
|
|
| Net Income (Common) |
(25)
N/A
|
(21)
+17%
|
(13)
+40%
|
(7)
+41%
|
17
N/A
|
10
-39%
|
1
-92%
|
(8)
N/A
|
(10)
-22%
|
(13)
-34%
|
(14)
-4%
|
(13)
+10%
|
(13)
-6%
|
(9)
+32%
|
(9)
-1%
|
(12)
-34%
|
(19)
-59%
|
(31)
-62%
|
(47)
-49%
|
(67)
-43%
|
(97)
-45%
|
(107)
-10%
|
(110)
-3%
|
(108)
+2%
|
(26)
+76%
|
(12)
+55%
|
1
N/A
|
15
+1 170%
|
(36)
N/A
|
(34)
+7%
|
(33)
+3%
|
(36)
-10%
|
(38)
-5%
|
(62)
-65%
|
(68)
-10%
|
(117)
-70%
|
|
| EPS (Diluted) |
-1.2
N/A
|
-0.78
+35%
|
-0.59
+24%
|
-0.27
+54%
|
0.62
N/A
|
0.48
-23%
|
0.03
-94%
|
-0.38
N/A
|
-0.46
-21%
|
-0.62
-35%
|
-0.63
-2%
|
-0.57
+10%
|
-0.61
-7%
|
-0.42
+31%
|
-0.42
N/A
|
-0.56
-33%
|
-0.89
-59%
|
-1.43
-61%
|
-2.12
-48%
|
-3.02
-42%
|
-4.36
-44%
|
-4.79
-10%
|
-4.95
-3%
|
-4.84
+2%
|
-4.94
-2%
|
-2.22
+55%
|
0.22
N/A
|
2.86
+1 200%
|
-6.84
N/A
|
-6.28
+8%
|
-6.07
+3%
|
-6.56
-8%
|
-6.92
-5%
|
-11.39
-65%
|
-12.5
-10%
|
-21.1
-69%
|
|