Hamilton, Bermuda-based Seadrill Ltd. (SDRL) primarily provides services related to offshore drilling activities to customers worldwide. Currently, the company is operating about 69 drilling units that include drillships, jackups, semi-submersibles and tender rigs.
Currently, Seadrill has a Zacks Rank #4 (Sell) but that could change following its fourth quarter 2014 earnings report which has just released. Coming to earnings surprise history, the partnership has missed estimates in three of the last four quarters, leading to an average miss of 15.59%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Seadrill beats on earnings. Earnings per share – excluding a non-cash goodwill impairment charge – came in at 79 cents, comfortably above the Zacks Consensus Estimate of 62 cents.
Revenue: Revenues tops expectations. Revenues of $1,261 million were above the Zacks Consensus Estimate of $1,256 million.
Key Stats: The ‘Floater’ segment reported revenues of $801 million against $1,029 million in the year-ago quarter. However, net operating income of $523 million was up from the fourth quarter 2013 figure of $431 million.
The ‘Jackup rig’ unit registered revenues of $420 million compared with $341 million in the prior-year quarter. Net operating loss of $73 million was, however, in contrast to the profit of $110 million recorded a year ago.
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