Sign in

    Sebastian Erskine • AllianceBernstein

    Sebastian Erskine's questions to Kodiak Gas Services Inc (KGS) leadership

    Sebastian Erskine's questions to Kodiak Gas Services Inc (KGS) leadership • Q2 2025

    Question

    Sebastian Erskine of Rothschild & Co asked about OEM lead times, the potential for sale-leaseback deals, key learnings from the CSI acquisition, and the quality of assets in the remaining fragmented compression market.

    Answer

    President & CEO Mickey McKee noted that OEM lead times are stable and that the list of attractive M&A targets is shrinking, with remaining assets being mostly smaller, non-core horsepower. EVP & CFO John Griggs described the CSI acquisition as a "wonderful" success that exceeded synergy targets, with the new ERP system marking the final integration step.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to Kodiak Gas Services Inc (KGS) leadership • Q1 2025

    Question

    Sebastian Erskine from Redburn Atlantic inquired about the outlook for leading-edge compression pricing and any differences in contract discussions with midstream versus upstream customers. He also asked about the potential for redeploying equipment to other basins given the robust demand for U.S. natural gas.

    Answer

    CEO Mickey McKee stated that leading-edge pricing remains stable with no significant changes yet, though customers are monitoring the macro environment. He affirmed the company's strong belief in the Permian Basin's long-term fundamentals, even suggesting it could become a 'gas basin with associated oil.' However, he confirmed Kodiak maintains the operational and commercial presence to shift assets to other basins if market dynamics were to change.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to Kodiak Gas Services Inc (KGS) leadership • Q3 2024

    Question

    Sebastian Erskine inquired about the impact of new Permian pipeline capacity on compression demand and asked for color on the significant working capital outflow in Q3.

    Answer

    CEO Mickey McKee explained that customers plan for takeaway capacity well in advance, so new pipeline additions are already factored into their long-term compression needs. CFO John Griggs attributed the working capital outflow to temporarily elevated inventory and accounts receivable resulting from the ongoing integration of two separate operating systems post-acquisition, which he expects to normalize by year-end and into 2025.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to Tenaris SA (TS) leadership

    Sebastian Erskine's questions to Tenaris SA (TS) leadership • Q2 2025

    Question

    Sebastian Erskine asked about the potential for U.S. domestic producers to gain market share from importers due to tariffs and whether Tenaris would consider accelerating its share repurchase program.

    Answer

    Chairman & CEO Paolo Rocca stated that with imports representing about 40% of the U.S. market, the 50% tariff will inevitably impact prices and create substitution opportunities, although domestic seamless capacity is already highly utilized. Regarding the buyback, he indicated the second tranche is expected to be launched following the board's review on October 29.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to Tenaris SA (TS) leadership • Q1 2025

    Question

    Sebastian Erskine asked about the drivers behind the significant sequential decrease in unit labor and raw material costs in Q1, and requested an update on the deteriorating operational and financial situation with Pemex in Mexico.

    Answer

    Chairman and CEO Paolo Rocca explained that cost trends are stable to slightly down due to a souring global economic outlook and ongoing restructuring efforts to boost productivity. Regarding Mexico, he confirmed Pemex's situation has worsened but stated it is unsustainable. While the government has announced a recovery plan, its implementation timeline is unknown. Rocca also noted Tenaris has successfully reduced its working capital exposure to Pemex.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to TechnipFMC PLC (FTI) leadership

    Sebastian Erskine's questions to TechnipFMC PLC (FTI) leadership • Q2 2025

    Question

    Sebastian Erskine of Rothschild & Co Redburn asked about TechnipFMC's view on the evolving Brazilian market given its selectivity on tenders. He also inquired about the reasons for recent project scope value increases on the opportunities list.

    Answer

    CEO & Chair Douglas Pferdehirt explained that TechnipFMC maintains a strong, technology-focused relationship with Petrobras and remains selective on non-integrated work, while also executing iEPCI projects for other operators in Brazil. He noted that recent project scope increases reflect higher quality reservoirs and clients' desire to secure TechnipFMC's unique integrated capabilities in a concentrated market.

    Ask Fintool Equity Research AI

    Sebastian Erskine's questions to Technip Energies NV (THNPY) leadership

    Sebastian Erskine's questions to Technip Energies NV (THNPY) leadership • Q1 2025

    Question

    Sebastian Erskine of AllianceBernstein inquired about the specific markets affected by macroeconomic weakness in the Technology, Products & Services (TPS) segment, the potential negative implications for Project Delivery, and the outlook for U.S. LNG projects amid cost and tariff concerns.

    Answer

    CEO Arnaud Pieton clarified that the TPS slowdown was mainly in Technology & Products (T&P), such as ethylene and some delayed carbon capture projects, not in services, which bodes well for future Project Delivery work. He expressed confidence in U.S. LNG, noting improved visibility for Commonwealth and Lake Charles LNG, and stated that tariff risks are borne by the clients, not Technip Energies.

    Ask Fintool Equity Research AI