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Rowan Companies Plc  (RDC)
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    Sector  Energy    Industry Oil Well Services & Equipment
 
 

EARNINGS REPORT by CSIMarket

Income Tumbles by -92.86 %, Sales Faded


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Rowan Companies Plc announced first quarter 2017 operating income of $77.8 millions



Sales contraction of -25.17 % caused drop in earnings by -92.86 % for the first quarter 2017. Company posted results of $374 millions in Sales this compares to $500 millions a year ago and eps of $0.07 per share compare to 0.98 in previous year.

In contrast to the forth quarter 2016 Sales increased by 6.41 % from $352 millions and EPS turn positive from $-0.21 per share.
Sales fell at Middle East Drilling -5.84%, Other international Drilling -38.62%, while revenue growth was achieved at Drilling +16.87%, Gulf of Mexico Drilling +221.19%, North Sea Drilling +10.52%, Other +6.38%.
Net income of $10 millions in the first quarter 2017 fell by -91.61 % from $123 millions in the corresponding period a year before. Looking further into first quarter 2017 Rowan Companies Plc's profitability, operating margin mitigated to 20.79%, and net margin shrank to 2.75%.

Analysing further company's results, an astounding rise of 160.59% in Gulf of Mexico Avg. Day Rates to 375,836.00 $ explains the first quarter 2017 performance.
While following indicators decreased: North Sea Avg. Day Rates down -3.28 %.
While following indicators decreased: Offshore Rig Operating Days 2,275.00 -5.05 %.
The Oil Well Services & Equipment company, also outlined contraction in Offshore Rig Utilization (%) -8.33 %, Middle East Avg. Day Rates -7.56 %, Other international Avg. Day Rates -11.05 %.
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Rowan Companies Plc reported forth quarter 2016 earnings

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