Oil doing VERY well.. - Chicagoland Sportbikes
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post #1 of 24 (permalink) Old 02-18-2008, 04:43 PM Thread Starter
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Oil doing VERY well..

So we have a client that is one of the top 3 oil companies in the U.S. going through their yearly audit right now. We have a small team working with them in Houston during this time. Preliminary EBITDA is 32%!!! What the HELL! 32%? DAMN!

For those that do not know, this is the money owners put in their pockets after all things are taken into consideration. So, basically, the stock holders are putting $0.32 per dollar into their pocket. That is absolutely astounding. It is widely held that companies that do 25% EBITDA are doing well - especially these days.

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post #2 of 24 (permalink) Old 02-18-2008, 04:46 PM
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Quote:
Originally Posted by pcohenchicago View Post
So we have a client that is one of the top 3 oil companies in the U.S. going through their yearly audit right now. We have a small team working with them in Houston during this time. Preliminary EBIDTA is 32%!!! What the HELL! 32%? DAMN!

For those that do not know, this is the money owners put in their pockets after all things are taken into consideration. So, basically, the stock holders are putting $0.32 per dollar into their pocket. That is absolutely astounding. It is widely held that companies that do 25% EBIDTA are doing well - especially these days.
Oil company in Houston? Haliburton?

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post #3 of 24 (permalink) Old 02-18-2008, 04:48 PM
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Gee, an oil Company doing well? One word, "Dubai" - Nuff said

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post #4 of 24 (permalink) Old 02-18-2008, 04:48 PM Thread Starter
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I can't say, but it's the company in question's accounting offices located in Houston. The point is how much money these guys are making off of us... I think we need to up our billable rates...

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post #5 of 24 (permalink) Old 02-18-2008, 04:51 PM Thread Starter
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Gee, an oil Company doing well? One word, "Dubai" - Nuff said
Oh, I agree. It's no surprise, but 32%? To give you an idea, we have another client (defense contractor) that is doing the best it ever has in its' history and it's digging in at 26% EBIDTA.

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post #6 of 24 (permalink) Old 02-18-2008, 10:26 PM
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Exxon just recorded the largest profit EVER of any company or so I heard on CNN last week.

I own BP and its not doing anything.

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post #7 of 24 (permalink) Old 02-18-2008, 10:29 PM
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Exxon just recorded the largest profit EVER of any company or so I heard on CNN last week.

I own BP and its not doing anything.
Yes, Exxon did. Maybe that's why their busy sueing Chavez and VZ.
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post #8 of 24 (permalink) Old 02-18-2008, 11:40 PM
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I thought EBITDA stood for Earnings BEFORE Interest, Taxes, Depreciation, Amatorization.

This metric was the 'hot' one for the dot coms before they took a shit because real earnings and health of a company do have to take into account Interest, Taxes, Depreciation and Amatorization.

Don't get me wrong, they are still making BILLIONS hand over fist, but EBITDA is a bullshit metric that WallStreet wants everyone to pay attention to.

Everyone Exaggerates

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post #9 of 24 (permalink) Old 02-19-2008, 07:51 AM Thread Starter
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Quote:
Originally Posted by Arch View Post
I thought EBITDA stood for Earnings BEFORE Interest, Taxes, Depreciation, Amatorization.

This metric was the 'hot' one for the dot coms before they took a shit because real earnings and health of a company do have to take into account Interest, Taxes, Depreciation and Amatorization.

Don't get me wrong, they are still making BILLIONS hand over fist, but EBITDA is a bullshit metric that WallStreet wants everyone to pay attention to.
It's the real value of how a company does with the money they have. It's not the total value of the company, but it's the most accurate way to see how well a company is being run financially.

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post #10 of 24 (permalink) Old 02-19-2008, 08:06 AM
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EBITDA are numbers that are out of the company's control. I wish I was in the oil business... "yeah, we have to raise prices to meet costs" that's why they are all making billions

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post #11 of 24 (permalink) Old 02-19-2008, 08:26 AM
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Quote:
Originally Posted by pcohenchicago View Post
It's the real value of how a company does with the money they have. It's not the total value of the company, but it's the most accurate way to see how well a company is being run financially.
EBITDA can be manipulated to look good in whatever period you want it to be. Full Cash flow over time is the best testament to a companies financial health.

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post #12 of 24 (permalink) Old 02-19-2008, 08:54 AM Thread Starter
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They are plannign on a future without oil. The inevitibility is all over the walls in the bathroom. Much of the profit is going into researching alternatives. 20 years from now, these companies will be spending about 50% of their time on oil and the other on whatever it is they come up with in the next 10 years to substitute.

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post #13 of 24 (permalink) Old 02-19-2008, 09:13 AM
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The universe converts, stores and transfers energy without the need for dollars or profits.

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post #14 of 24 (permalink) Old 02-19-2008, 09:14 AM
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Wait,

Paul, is this like breaking news or something?

Who gives a fuck!?!?! THis is last year's news!
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post #15 of 24 (permalink) Old 02-19-2008, 09:15 AM
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Quote:
Originally Posted by Arch View Post
I thought EBITDA stood for Earnings BEFORE Interest, Taxes, Depreciation, Amatorization.

This metric was the 'hot' one for the dot coms before they took a shit because real earnings and health of a company do have to take into account Interest, Taxes, Depreciation and Amatorization.

Don't get me wrong, they are still making BILLIONS hand over fist, but EBITDA is a bullshit metric that WallStreet wants everyone to pay attention to.
"Adjusted" EBITDA is a BS #
"Unadjusted" EBITDA is a fairly decent metric, especially in leveraged finance.

It plays an important role since most covenants are based off this #.

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post #16 of 24 (permalink) Old 02-19-2008, 09:19 AM
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Quote:
Originally Posted by ABSOLUTnie View Post
"Adjusted" EBITDA is a BS #
"Unadjusted" EBITDA is a fairly decent metric, especially in leveraged finance.

It plays an important role since most covenants are based off this #.
Companies that had a ton of long term debt touted this number quarter after quarter to show how great they were doing...as they headed towards chapter 11...

Not saying this is what is happening in the oil industry, but this number can be spun a number of different ways.

Everyone Exaggerates

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post #17 of 24 (permalink) Old 02-19-2008, 09:23 AM
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Quote:
Originally Posted by Arch View Post
Companies that had a ton of long term debt touted this number quarter after quarter to show how great they were doing...as they headed towards chapter 11...

Not saying this is what is happening in the oil industry, but this number can be spun a number of different ways.
True dat. This is why Accounting has become an art, not a science.

-Maciek
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post #18 of 24 (permalink) Old 02-19-2008, 10:38 AM Thread Starter
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Originally Posted by ABSOLUTnie View Post
True dat. This is why Accounting has become an art, not a science.
I've seen accounts do things even David Blaine couldn't make happen

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post #19 of 24 (permalink) Old 02-19-2008, 01:54 PM
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Originally Posted by pcohenchicago View Post
I've seen accounts do things even David Blaine couldn't make happen
Even funnier is when software woopsies make thing land in different quarters that are more convenient.

Everyone has plausible deniability.

Insurance companies like to start denying claims in December.. ever notice that?

Everyone Exaggerates

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post #20 of 24 (permalink) Old 02-19-2008, 02:22 PM
 
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I like how Venezuela tried to threaten Exxon that it's cutting off all oil supplies if the judgement was against them. How many times bigger is Exxons cash reserves when comparing to their entire country?
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post #21 of 24 (permalink) Old 02-19-2008, 03:05 PM Thread Starter
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Money, money, money money.... MONey...

http://biz.yahoo.com/ap/080219/oil_prices.html

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post #22 of 24 (permalink) Old 02-19-2008, 03:22 PM
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Quote:
Originally Posted by pcohenchicago View Post
Money, money, money money.... MONey...

http://biz.yahoo.com/ap/080219/oil_prices.html
Even funnier that they can get someone else to pay for the neglected upkeep that's been going on for a long time in our energy infrastructure.

Why spend the hundreds of millions or billions when an accident can get federal funds and insurance money sent their direction to pay for the replacement/upgrades?

We truly live in a sick world. How long until the pipelines start farting out on us?

Everyone Exaggerates

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post #23 of 24 (permalink) Old 02-20-2008, 09:51 AM
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I was talking to a small cap TX oil guy a couple years ago about investing with him. At the time oil was at $80. I asked if oil stayed at $80 how we would be doing. I got, "Son if oil stays at $80 I'll be farting through silk". At $100 oil companies are making insane amount of profits.

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post #24 of 24 (permalink) Old 02-20-2008, 10:52 AM
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Just remember.. Every time you buy a gallon of gas your supporting terrorists... a large percentage of those profits goes over to OPEC nations.. Most of which don't like us very much (which pretty much makes them terrorists.. right?)
So stop driving and walk your fat ass to work
but don't worry... Our president is selling them billions of dollars in weapons.. wait.. is that a good thing?


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Watch the whole thing...
I actually laughed out loud how he went from Woody Allen when talking about how he'd talk to the king to John Wayne when he was asked why he was so soft....
Weren't almost all of the hijackers from this guys country? Why aren't we invading his country and taking his oil instead of kissing his ass and selling him our weapons tech?

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