IPSCO Tubulars Inc #IPO Preview $IPSC

Company: IPSCO Tubulars Inc.
Symbol: IPSC
Description: They are a leading, growth-oriented producer and supplier of seamless and welded oil country tubular goods, or OCTG, with a proprietary suite of premium and semi-premium connections.
Shares: 23.25 million
Price Range: $20.00-$23.00
Trade Date: 2/9
Underwriter(s): BofA Merrill Lynch, Morgan Stanley, J.P. Morgan, UBS Investment Bank, Citigroup, Credit Suisse, Barclays, Evercore ISI
Terms Added: 1-29-18

Link to S-1/A Prospectus

Link to Retail Roadshow

Business: As a vertically integrated producer of seamless pipe and an efficient operator of their steel pipe production, heat treating and threading facilities, they are able to efficiently meet customer demand and exercise control over their cost structure. The primary end market for their products is onshore exploration and production, or E&P, operators in the United States and Canada, who purchase their products directly from them or through their distributors.

Financials:

Their total revenues were $950.8 and $470.3 million, and their net loss was $149.0 and $177.5 million in 2015 and 2016, respectively. In the first three quarters of 2016 and 2017, their total revenue was $324.2 million and $730.4 million and their net income (loss) was ($150.0 million) and $23.3 million, respectively.

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