BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

SDRL: New Contracts Set Catalyst for 2024

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul>
<li>SDRL enters the second quarter with drill ships undergoing special surveys and day rates slowly creeping higher. </li>
<li>The drill ship market has experienced an increase in day rates on the expectation stacked ships eventually become available. We do not believe this will ever be the case</li>
<li>We are leaving our 2024 earnings model unchanged and raising our 2025 adjusted EBITDA outlook to $677 million from $615 million</li>
</ul>


SDRL enters the second quarter with drill ships undergoing special surveys and day rates slowly creeping higher. 
The drill ship market has experienced an increase in day rates on the expectation stacked ships eventually become available. We do not believe this will ever be the case
We are leaving our 2024 earnings model unchanged and raising our 2025 adjusted EBITDA outlook to $677 million from $615 million


Seadrill

SDRL: Tighter Outlook, PT to $80