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SeaDrill (SDRL) Posts Higher than Expected Q4 Earnings
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SeaDrill Limited (SDRL - Free Report) , based in London, is one of the leading offshore drilling contractors in the world. The company’s fleet is one of the youngest and most advanced when compared to that of major contractors engaged in offshore drilling.
Today, the company’s fleet can be broadly classified into three distinct groups based on drilling capabilities: floaters (semi-submersibles and drillships), jackup rigs and tender rigs.
Currently, SeaDrill has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 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 24 cents, which beat the Zacks Consensus Estimate of 13 cents.
Revenue: Revenue beats expectations. Revenue of $667 million was above the Zacks Consensus Estimate of $634 million.
Segmental Analysis
Floaters: This segment reported revenues of $458 million compared with $644 million in the year-ago quarter. Net operating income was $101 million as compared to the prior-year quarter figure of $117 million.
Jack-up Rigs: The segment registered revenues of $186 million as against $282 million in the prior-year quarter. Net operating income plummeted from the fourth-quarter 2015 figure of $102 million to $27 million.
Other: Revenues of $23 million were lower than $33 million reported in the prior-year quarter. Operating loss of $10 million was recorded as compared to the prior-year profit of $4 million.
Check back later for our full write up on this SeaDrill earnings report later!
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SeaDrill (SDRL) Posts Higher than Expected Q4 Earnings
SeaDrill Limited (SDRL - Free Report) , based in London, is one of the leading offshore drilling contractors in the world. The company’s fleet is one of the youngest and most advanced when compared to that of major contractors engaged in offshore drilling.
Today, the company’s fleet can be broadly classified into three distinct groups based on drilling capabilities: floaters (semi-submersibles and drillships), jackup rigs and tender rigs.
Currently, SeaDrill has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 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 24 cents, which beat the Zacks Consensus Estimate of 13 cents.
Revenue: Revenue beats expectations. Revenue of $667 million was above the Zacks Consensus Estimate of $634 million.
Segmental Analysis
Floaters: This segment reported revenues of $458 million compared with $644 million in the year-ago quarter. Net operating income was $101 million as compared to the prior-year quarter figure of $117 million.
Jack-up Rigs: The segment registered revenues of $186 million as against $282 million in the prior-year quarter. Net operating income plummeted from the fourth-quarter 2015 figure of $102 million to $27 million.
Other: Revenues of $23 million were lower than $33 million reported in the prior-year quarter. Operating loss of $10 million was recorded as compared to the prior-year profit of $4 million.
Check back later for our full write up on this SeaDrill earnings report later!
A Full-Blown Technological Breakthrough in the Making
Zacks’ Aggressive Growth Strategist Brian Bolan explores autonomous cars in our latest Special Report, Driverless Cars: Your Roadmap to Mega-Profits Today. In addition to who will be selling them and how the auto industry will be impacted, Brian reveals 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>