STOLT OFFSHORE WHAT GIVES?

Stolt Offshore’s (NASDAQ: SOSA) share price has taken a huge beating of late. The main reasons behind it – the US Gas price fall, reduction in rig rates in the Gulf of Mexico, and a big (330kshare) U.S. SOSA trade with a market reaction in Norway recently – have been exacerbated/ amplified by low volumes in the sector of late. The company, which lost $0.44/share last year has turned things around a bit. Wall Street consensus estimate has the company earning $0.21/share this year and $0.87/share in 2001.

The company’s guidance on EPS for this year is in line with those estimates noting that $0.15 – $0.20/share will be earned in Q3, with the earnings release to come on September 25th and company guidance EPS for the year stands at $0.20-$0.35/share. The company will give no guidance on the share until the 2002 business plan is in place, due November 2001.

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