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    James West

    Senior Managing Director at Evercore ISI

    James West is a Senior Managing Director at Evercore ISI, specializing in equity research focused on oil services, equipment, drilling, and sustainable technologies including solar, wind, and battery storage. He covers more than 60 companies across energy, industrials, and utilities, and has achieved a 43.9% success rate along with an average return of 27% as a stock analyst. Since joining Evercore ISI in 2011 after leadership roles at Barclays, Lehman Brothers, and Donaldson, Lufkin & Jenrette, West has been ranked as number one by Institutional Investor and was inducted into their Hall of Fame in 2023. He holds a B.A. in Economics from the University of North Carolina at Chapel Hill and serves on multiple advisory boards, reflecting strong professional credentials and industry recognition.

    James West's questions to Weatherford International (WFRD) leadership

    James West's questions to Weatherford International (WFRD) leadership • Q2 2025

    Question

    James West posed a two-part question, asking about Weatherford's M&A strategy given its strong balance sheet, and for new CFO Anuj Dhruv's initial impressions of the company and his key priorities.

    Answer

    President and CEO Girish Saligram addressed M&A, stating the company has a robust pipeline focused on well construction and production, but will remain disciplined on valuation and value creation. EVP & CFO Anuj Dhruv shared that his priorities include capital allocation, driving free cash flow and margins, business simplification, and acting as a strong business partner.

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    James West's questions to Weatherford International (WFRD) leadership • Q3 2024

    Question

    James West from Evercore asked how Weatherford plans to grow and potentially outpace a stable market environment, and which areas represent its biggest strengths. He also followed up on the margin profile, questioning the potential for further expansion in a slower growth scenario.

    Answer

    Executive Girish Saligram stated that Weatherford aims for incremental growth through specific areas like the new Modus NPD launch and a strong focus on production optimization for mature fields. He noted that while multi-hundred basis point margin expansion is unlikely, the company is confident in achieving 25 to 75 basis points of annual margin growth in a flat market, driven by internal efficiencies, improved execution, and capturing more value.

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    James West's questions to TIDEWATER (TDW) leadership

    James West's questions to TIDEWATER (TDW) leadership • Q3 2024

    Question

    James West sought to clarify if the Q3 utilization miss was unplanned and whether recent day rate increases were pure rate hikes or influenced by a mix effect from high-rate vessels being active. He also asked about the timing of when customers might provide more clarity on 2025 plans.

    Answer

    CFO Sam Rubio detailed that the utilization drop was due to higher drydock days, repair days, and a vessel mobilization. CEO Quintin Kneen acknowledged a product mix impact on average day rates from the pullback in the high-rate North Sea region. CCO Piers Middleton expects more visibility on long-term plans by year-end, noting that customers remain committed to key long-cycle projects.

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    James West's questions to Sunrun (RUN) leadership

    James West's questions to Sunrun (RUN) leadership • Q3 2024

    Question

    James West inquired about the growth of Sunrun's virtual power plants (VPPs), asking what the primary impediments are to scaling this opportunity. He also asked about the potential opportunity set for Sunrun related to the growing energy demands from data centers and AI.

    Answer

    CEO Mary Powell identified the 'regulatory and utility environment' as the main factor for VPP growth, noting that grid strain from electrification and AI is making these distributed resources a mainstream solution. She described the AI opportunity as an extension of VPPs, stating that Sunrun's aggregated residential storage assets are a reliable solution for data centers seeking clean energy. She confirmed Sunrun is under NDAs with AI developers.

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    James West's questions to HALLIBURTON (HAL) leadership

    James West's questions to HALLIBURTON (HAL) leadership • Q3 2024

    Question

    James West questioned the timing of Halliburton's increased focus on its well intervention business and asked for context on its development and current strength. He also explored whether growth in this segment could lead to less cyclical earnings and a higher valuation multiple for the company.

    Answer

    Chairman, President and CEO Jeffrey Miller explained that the focus on intervention highlights its critical role in maintaining global production and showcases Halliburton's significant R&D investments, such as the new riserless intervention technology. He agreed that this business provides a stable, less cyclical revenue stream, as production decline is constant, thus justifying continued investment for outsized growth.

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    James West's questions to STEM (STEM) leadership

    James West's questions to STEM (STEM) leadership • Q3 2024

    Question

    James West of Evercore ISI inquired about customer feedback regarding Stem's recent strategic and leadership changes, and asked for specifics on the software enhancements customers are requesting.

    Answer

    Interim CEO David Buzby stated that the customer response has been very positive, as sophisticated buyers view storage hardware as a commodity and solar customers welcome the renewed focus on software. COO Mike Carlson added that requested software enhancements fall into three categories: improving user information flow and access, leveraging AI for predictive analytics on asset operations, and creating more automated warnings and integrated work processes.

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    James West's questions to Baker Hughes (BKR) leadership

    James West's questions to Baker Hughes (BKR) leadership • Q3 2024

    Question

    James West from Evercore ISI asked for an update on the IET business, seeking confirmation on the full-year order forecast, an outlook on puts and takes for 2025 orders, and an estimate of when IET income might surpass that of the OFSE segment.

    Answer

    Lorenzo Simonelli, Chairman and CEO, expressed high confidence in achieving the midpoint of the $11.5B to $13.5B IET order guidance for the year, highlighting the portfolio's diversity. For 2025, he anticipates a similarly solid year, with an expected pickup in LNG FIDs and continued strength in FPSO markets. He did not provide a specific timeline for IET's income to exceed OFSE's, instead emphasizing the strong growth trajectory of both segments.

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    James West's questions to SCHLUMBERGER LIMITED/NV (SLB) leadership

    James West's questions to SCHLUMBERGER LIMITED/NV (SLB) leadership • Q3 2024

    Question

    James West inquired about the key drivers for continued margin expansion in 2025 amidst a more muted top-line growth forecast and asked for insights on the success of the recent Digital Forum.

    Answer

    CEO Olivier Le Peuch stated that SLB aims to continue its margin expansion journey in 2025, driven by a favorable international and offshore mix, a premium on digital technology with a goal of approximately $3 billion in revenue, and the full impact of cost optimization programs. He also highlighted the success of the Digital Forum, noting it accelerated customer realization of SLB's broad value proposition in AI and digital operations, which he sees as a long-term growth engine.

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    James West's questions to Borr Drilling (BORR) leadership

    James West's questions to Borr Drilling (BORR) leadership • Q2 2024

    Question

    James West of Evercore ISI inquired about Borr Drilling's strategy for allocating its anticipated significant free cash flow in the upcoming year, asking how the board weighs priorities between dividends, share buybacks, and debt reduction.

    Answer

    Executive Patrick Arnold Schorn quantified the potential year-over-year cash flow increase at over $200 million, driven by lower CapEx, fewer special periodic surveys, and higher day rates. CFO Magnus Vaaler elaborated on the capital return tools available, including the existing dividend, scheduled bond amortization, a potential bondholder cash sweep, and a $100 million share buyback authorization. Vaaler stated the Board will determine the optimal mix based on market conditions and shareholder value at the time.

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    James West's questions to Borr Drilling (BORR) leadership • Q2 2024

    Question

    James West asked about Borr Drilling's capital allocation strategy for 2025, questioning how the Board will prioritize the use of significant expected free cash flow between dividends, share buybacks, and debt reduction.

    Answer

    Executive Patrick Arnold Schorn quantified the potential for over $200 million in increased year-over-year cash flow for 2025, driven by lower newbuild CapEx, fewer special periodic surveys, and higher contracted day rates. CFO Magnus Vaaler added that the Board has multiple tools available, including the current dividend, a $100 million buyback authorization, and debt amortization. He stated the final decision will be based on what is most beneficial for shareholders at the time, considering the share price and market conditions.

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    James West's questions to CHART INDUSTRIES (GTLS) leadership

    James West's questions to CHART INDUSTRIES (GTLS) leadership • Q2 2024

    Question

    James West asked about the application and market size of Chart's cooling solutions for emerging areas like data centers and Small Modular Reactors (SMRs).

    Answer

    CEO Jillian Evanko explained that existing products like air-cooled heat exchangers and Howden's screw compressors are perfectly suited for these new, energy-intensive applications. She quantified the near-term data center opportunity at approximately $500 million, with potential for an additional $600 million to $800 million from heavy industrial chilling applications.

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    James West's questions to NOVA leadership

    James West's questions to NOVA leadership • Q2 2024

    Question

    Asked about the future outlook for unit economics and the expected duration of the pause on adding new dealers.

    Answer

    Unit economics, measured by the fully burdened unlevered return, are expected to increase by 200-300 basis points. The pause on adding new dealers is part of a strategy to maintain a disciplined, gradually sloping CapEx increase to optimize cash generation, rather than pursuing aggressive growth. This approach will be maintained to prioritize existing core dealers.

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    James West's questions to AMPS leadership

    James West's questions to AMPS leadership • Q3 2023

    Question

    The analyst asked for more details on the new Altus IQ software, specifically its rollout plan to existing and new customers. He also asked for an elaboration on the company's strategy and opportunity in the growing Community Solar market.

    Answer

    Executives detailed that Altus IQ is being rolled out to existing and new clients, serving as a key tool for early customer engagement and providing value through features like centralized billing and carbon footprint tracking. It will eventually be available to all customers. On Community Solar, they see it as a major market expander, leveraging their existing real estate relationships as new state programs (like California's anticipated one) come online. Community solar allows them to build larger, more profitable projects on customer sites by selling excess power to the local community.

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