Wood Group (john) Share Discussion Threads

[hamhamham1] 09/5/2024 07:27

Q1 trading update
9 May 2024

Delivering improved profitability

John Wood Group PLC ('Wood' or 'the Group') announces a trading update for the quarter ended
31 March 2024 ('Q1').

Ken Gilmartin, CEO, said:

"We are now in the second year of our growth strategy and are making good progress, with EBITDA growth, margin expansion and an order book 9% higher than a year ago. We continue to win exciting and complex work across energy and materials, with sustainable solutions representing 40% of our pipeline.

"We are progressing with our Simplification programme and have made some significant appointments this year including welcoming Arvind Balan as our new CFO. I am proud of the strong leadership team we have in place and confident that we will deliver on our significant potential. We are today reiterating our EBITDA guidance for 2024 and our outlook for 2025".

Group performance

Q1 adjusted EBITDA was up 4% with margin expansion across all of our business units offsetting lower revenue. This margin performance was helped by both improved pricing and our strategic focus on building a higher quality business, with our move away from EPC work.

Q1 revenue was $1,356 million, down 6%1 compared to $1,463 million in Q1 2023, with growth in Operations offset by lower revenue in Projects, mainly reflecting lower pass-through activity and lower EPC revenue in line with our strategic shift.

Our order book at 31 March 2024 was $6.2 billion, up 9% compared to March 2023.

[packman8] 08/5/2024 17:12

AGM tomorrow so hopefully get trading update.

[hamhamham1] 08/5/2024 15:23

If previous bid of 240p was offered by a Private Equity them if a couple of bidders emerge, aka today's type, they should offer 20-30% more than PEs would. As PE is about making a quick profit mostly, so they bid low. Want a couple of industry buyers who willing to pay actual value of business, not at discount for flip.

[hamhamham1] 08/5/2024 14:19

My personal guess. Two bidders will emerge and yes, the figures bandied around, 300p area, will win the day.
2nd bidder is the key and now might flush other bystanders out of the darkness.
Time will tell. GLA.

[hamhamham1] 08/5/2024 12:27

Wood Group's debt is down hugely ove past 5 yrs and new contracts more profitable, slowly.
This is a 350p a share company all day long.

[hamhamham1] 08/5/2024 12:12

240p next stop then, last failed bid level.

[demo trader] 08/5/2024 11:46

Spiked up, 202p


SIDARA IS SAID TO MULL POTENTIAL ACQUISITION OF JOHN WOOD GROUP

[h0me] 07/5/2024 14:36

Back in play?

[gargoyle2] 30/4/2024 10:50

I see that EPS estimates for 2025 have been ramped up on Sharepad recently -- 23.7 cents today (pretty sure it was around 19 a few days ago, along the lines of the Stockopedia forecast -- still showing as 18.6 cents). 23.7 cents is just under 19p, i.e. a 2025 PE of around 8.1, for a business set to almost double EPS between 2024 and 2025.

[husbod] 29/4/2024 17:37

Ps - the market seems to like it though which seems to imply it's not overly impressed with the existing efforts. A bit of a backhanded compliment.

[husbod] 29/4/2024 17:34

Spot on.A woke statement and what should be a completely unnecessary appointment.What are we paying the ceo for if not to set out and action the corporate strategy alongside the existing Board.All a bit worrying vis a vis the competence of the Board and how much are we shelling out for this new executive in this new position I wonder?

[wigwammer] 29/4/2024 13:30

I have bought the shares recently, but what an unsettling RNS. One would hope the chief exec and board are there to organise strategy, and all today's announcement does is signal they are open minded when it comes to total gumph.

[gargoyle2] 29/4/2024 09:38

Given the number of shares the CEO has bought recently, I would think he's already pretty focused on improving performance and realising further value for shareholders. A takeover backons if he doesn't.

[husbod] 29/4/2024 08:44

I see realising further value for our shareholders came last in our CEO's statement welcoming the appointment of our new Chief Strategy Officeress.Still we are laser focused on keeping our people safe plus the usual sustainability guff so we'll be alright.Hang on - further value for our shareholders? What further value?Atm I and many other stakeholders are well underwater so being laser focused on vastly improving performance would be nice.

[pogue] 21/4/2024 12:26

Thought I would look in here been a while since I sold and give you a quick glimpse of the market.... and its booming in the UK right now. I applied to Wood the other day they have staff and contract positions going. Will wait till I see what rate they are offering though before deciding to move. Where I am just now they are desperate for more engineers as well, I keep getting asked if I know anyone looking but everyone is only willing to move for a rate rise. These will come in due course I expect its a cartel on rates among the big contractors just need one to break ranks for the rest to follow.
Thinking of buying back here to follow the market as it will hopefully feed into the share price at some point.

[chutes01] 17/4/2024 13:00

Wood hocking itself for a quick sale amidst threat of US listing.
Management to be replaced regardless.
Should see this north 200p

[iconista] 16/4/2024 13:54

Another article from Sky stirring the pot. Interesting in the light of my post 12 days ago.

[chutes01] 16/4/2024 12:18

Sparta back, demanding US listing
Board to be ousted this week
Expect bid from across pond $$

[wendsworth] 10/4/2024 19:35

chutes01: Good to see you've mellowed out. Rightly or wrongly I see real value in WG at the level of the current share price

[chutes01] 09/4/2024 19:45

Good write up, could see 200p soon enough, it shouldn't have got to this, reject the Apollo offer and trash the price.
Anyway, onwards, and fair play for the recent large purchases, I have been following.

[wigwammer] 09/4/2024 19:24

Good volumes in recent days. Bottom might be in :)

[wigwammer] 09/4/2024 11:07

Thanks Davies. Interesting. "He said: “We continue to see clear business momentum, with a higher order book, double-digit growth in our pipeline and positive pricing trends in both pipeline and order book.â€?"... sounds about right given oil price environment.