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SeaDrill (SDRL) Beats on Q4 Earnings, Misses on Revenues

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Headquartered in London, SeaDrill Limited is one of the leading offshore drilling contractors in the world. The company owns or has partial ownership interests in 64 mobile offshore drilling rigs. Its drilling fleet consists of 32 jackups, 14 semi-submersibles, 15 drillships, 2 tender rigs and 1 semi-tender rig.

Currently, SeaDrill Limited has a Zacks Rank #3 (Hold) but that could change following its fourth-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:    

Earnings:Earnings per share – excluding one-time items − came in at 54 cents, beating the Zacks Consensus Estimate of 45 cents.

Revenue:Total operating revenues of $959 million failed to beat the Zacks Consensus Estimate of $997 million.  

Key Stats: Operating income from the Floaters unit was $117 million, significantly below the prior-year quarter level of $523 million. The Jack-up Rigs segment registered profit of $102 million against a loss of $73 million in the prior-year quarter.

Check back later for our full write up on this SeaDrill Limited earnings report later!   

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