Wood Group (john) Share Discussion Threads

[weaverbeever] 14/11/2022 09:24

Ok. So the price has fallen on this news.

[ch1ck] 14/11/2022 08:18

I sold a quarter just to hedge a fall

[hamhamham1] 14/11/2022 08:07

165-170 today IMO, assuming wider markets allow.

[ashkv] 14/11/2022 07:45

Net Debt Guided to around $400mn by year end given guidance - and including provision for increase in Working Capital plus payment of settlement.

Expect Wood Group to end year at north of 300p

[hamhamham1] 14/11/2022 07:20

I think so, and it removes some uncertainty, which is almost more important, markets hate the unknown.

[weaverbeever] 14/11/2022 07:16

What are peoples thoughts here. Is 115mil a good result.

[hamhamham1] 14/11/2022 07:05

Settlement of Enterprise litigation case



11 November 2022

This announcement contains inside information



John Wood Group PLC ('Wood' or 'the Group') announced with its half year results on 23 August 2022 that the trial for the legacy lawsuit with Enterprise Products Operating LLC ("Enterprise") had concluded, with a decision expected by the year end. Wood today announces that it has reached a settlement agreement with Enterprise.



Settlement agreement

The parties have agreed to settle the case for an amount of $115 million. This will be paid in one instalment within the next 7 days.



Implications for net debt

We expect to be around the middle of our target range of 0.5x to 1.5x net debt (excluding leases) to EBITDA at 31 December 2022. This includes the payment of this settlement and the planned decision to use part of the proceeds of the Built Environment sale to normalise our working capital.



Background

In 2016, Enterprise filed a lawsuit against Amec Foster Wheeler plc, a company Wood acquired in 2017, and one of its subsidiaries. It related to alleged cost increases and delays on a cost reimbursable plus fixed fee contract secured in 2013 to engineer, procure and construct a propane dehydrogenation unit in Mont Belvieu, Texas.



Capital Markets Day

As previously announced, Wood will hold a Capital Markets Day on 29 November 2022 to outline our updated strategy in detail following the completion of the sale of the Built Environment consulting business in September 2022.

[w1ndjammer] 11/11/2022 11:35

Come on woody blue sky up to 250

WJ.

[bamboo2] 05/11/2022 14:29

Current target on my chart is approx 192, confirmed on Friday eod close.

[dexdringle] 04/11/2022 13:13

These are still £1 a share below where they were 6 months ago and £2 a share lower then they were 18 months ago.

I don't think there are any cats and bags here. Just a situation where the share price hammering has been a little overdone ?

[big7ime] 01/11/2022 13:25

Bamboo I’d be interested to see your chart analysis of BOO now on one of the BOO threads. Seems a good time to get in. Thanks

[pogue] 01/11/2022 09:00

PFC also rising. In the end contracts have to come to build all this new infrastructure to get gas from the US and others to Europe. Add in all the other shortages like refineries and there is a shed load of work out there needing to be done and O&G prices are high. What's surprised me is that contractors went down when O&G prices went up.

[w1ndjammer] 01/11/2022 08:37

Looks like cats out the bag

Any guesses !

WJ.

[ifthecapfits] 01/11/2022 08:27

Aye, was way oversold.

[chutes01] 01/11/2022 08:24

50% 2 weeks

[sspurt] 26/10/2022 14:32

Looks like big hopes being pinned on the CMD on Nov 29.

[tgaman] 25/10/2022 15:04

That was last week, Puffet.

[puffet] 25/10/2022 14:44

Am still holding from 107p certainly looks like sentiment is changing, fingers crossed . Also JP Morgan raised their price target on the company to 262p so that is probably behind a fair bit of the rise today.

[w1ndjammer] 25/10/2022 13:18

Getting close to breakout
Wow this is cheap, surprised the thread is so quiet….
Think the stuffing must have been knocked out of many investors.


WJ.

[bamboo2] 23/10/2022 18:53

Volume rising.