Superior Energy Services Sees Q2 EPS Below View - Quick Facts

(RTTNews) - Superior Energy Services Inc. (SPN) announced that second quarter 2013 earnings per share are expected to be in the range of $0.42 and $0.44, which is below the range of expectations established by research analysts following the Company. Analysts polled by Thomson Reuters expect the company to report earnings of $0.50 per share for the second-quarter. Analysts' estimates typically exclude special items.

The company said that the second quarter was negatively affected primarily by downtime associated with the repositioning of pressure pumping equipment from north Texas to supplement existing operations in other basins, flooding in North Dakota which curtailed demand for completions and production-related activity and lower coiled tubing activity in Mexico due to activity delays in the northern part of the country.

David Dunlap, CEO said, "As a result of the flexibility in our capital expenditures program, we still anticipate achieving one of our 2013 priorities of strong free cash flow generation."

The company said it will provide an update to annual guidance in its second quarter earnings press release.

The company also announced that it will release its 2013 second quarter results on Monday, July 29, after the market closes.