WorleyParsons Limited (ASX: WOR) provides a wide range of consulting and advisory services. It has technical expertise across multiple projects. The company has operations which include integrated services in areas like asset management services and engineering, procurement and construction capability. It has four business segments namely, Advisian, Major Projects, Integrated Solutions, and Services.
Today (18 January 2019), the company announced that Encana Corporation has awarded it a contract for engineering, procurement, fabrication and construction for the Pipestone Processing Facility in Alberta Canada. Keyera Partnership, a subsidiary of Keyera Corp, will own the Pipestone Processing Facility. Further, it will provide processing services to Encana once the facility is complete.
As per the contract, WorleyParsons will provide EPC services for the Pipestone Processing Facility, a 200 MMcf/day sour, shallow-cut gas plant with acid gas injection and 24,000 bbls/day of raw condensate processing capability. This contract award follows the completion of various recent projects by WorleyParsons for Encana, including fabrication and construction of the Tower Gas Plant, the Saturn Gas Plant, and the North Central Liquids Hub.
The Chief Executive Officer of WorleyParsons, Andrew Wood said that the company is delighted to have received this contract from Encana and they are looking forward to continuing their relationship and delivering this important project.
The company in its last notice as on 31 December 2018 announced BlackRock Group and subsidiaries to hold 23.120 million shares approximately in the companyâs equity with a voting power of 5.01%.
Now, let us have an idea about the financials of the company and the way it has performed over the past year. The revenue of the company stood at $4835.8 million in FY18 as compared to $5220.6 million in FY17, a decrease of 7.37% Y-O-Y. The loss of the company after tax stood at $129.7 million in FY18 as compared to $4.6 million in FY17. On the balance sheet, the company reported a total asset of $4475.8 million in FY18 as compared to $4227.8 million in the previous year, an increase of 5.8% approximately Y-O-Y. The net cash inflow from the operating activities stood at $259.7 million in FY18 as compared to $78.9 million in FY17. However, the net cash outflow from the investing activities remained at $399.1 million in FY18 as compared to $62.5 million in FY17.
Now let us quickly look at the WorleyParsons Limitedâs stock, and the returns it has posted over the last few months. It is trading at a price of $13.590 and decreased marginally by 0.074% approximately during the dayâs trade, with a market capitalization of $6.27 billion. The stock opened at $13.950 which is also the day high of the stock and posted a day low of $13.450. The company has yielded a YTD return of 19.93% and posted returns of -17.34%, -22.23% and 8.54% over the last six months, three months and one-month period respectively. It has a 52-week high price of $20.028 and a 52-week low of $10.720, with an average volume of 4.21 million approximately. The company is trading at a PE multiple of 58.370x with a current EPS of AUD$0.233.
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