2015 has been a tough year for SCI, with oil bottoming near $30... earnings per share came crashing down by a whopping 34%. This is more or less in line with market expectation.
Over the last 12 months, SCI has seen its stock price falling 40% from $4.20 to $2.53
The Marine segment was most heavily affected by the low oil prices as a number of customers defaulted/deferred on their oil rig deliveries. This led to a big write down of over 600 million which resulted into a full year loss of 176 million.
I respect's management move in being prudent with their numbers by taking the big losses now rather than later, this no doubt confirms my choice of management by picking SCI over KC... I just wonder how KC managed to report a net profit in their marine segment this year? lol
I was glad to ......