Rowan Companies plc’s (RDC) is a provider of international and domestic contract drilling and aviation services. It also operates a mini-steel mill, a manufacturing facility that produces heavy equipment for the mining, timber and transportation industries and a drilling products group that designs or builds about one third of all mobile offshore jackup drilling rigs.
Currently, Rowan Companies has a Zacks Rank #5 (Strong Sell) but that could change following its fourth quarter 2014 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Rowan Companies missed the earnings. Earnings per share from continuing operations (excluding special items) came in at 89 cents, below the Zacks Consensus Estimate of 90 cents.
Revenue: Revenues of $556.2 million came above the Zacks Consensus Estimate of $530 million.
Key Stats: The company’s Gulf of Mexico rigs experienced a dayrate of $150,100, Middle East rigs saw a dayrate of $145,800 and North Sea rigs’ dayrate was $306,400.
The overall dayrate of all offshore rigs was $185,200. Average utilization of the company’s rigs improved to 86% from 83% in the year-earlier quarter.
Check back later for our full write up on this Rowan Companies earnings report later!
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