Rowan Companies offers investors stable earnings and cash flow visibility, given its technologically advanced and versatile offshore drilling fleet, strong backlog and considerable pricing power. Moreover, Rowan’s joint venture with Aramco is expected to drive higher utilizations for the drop-down rigs.  Rowan’s cost-control initiatives are also noteworthy. Despite those positives, the company underperformed the Zacks categorized Oil & Gas-Drilling industry in the last three months. Moreover, Rowan’s earnings missed the Zacks Consensus Estimate and also fell annually. Rowan’s drillship Rowan Reliance’s contract also got terminated. Going forward, the volatile commodity pricing scenario, along with operational obstacles, could put pressure on the Rowan’s performance.