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

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Rowan Companies Plc announced forth quarter 2016 operating income of $41.225 millions



Rowan Companies Plc reported disappointing forth quarter 2016, where Sales melted down by -34.35 % to $352 millions and company posted loss per share to $-0.21, compare to $0.50, in the same quarter a year ago.

Compare to previous quarter eps fell from $0.04 per share and Sales deteriorated by -7.29 % from $379 millions.
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%.
For the forth quarter 2016 Rowan Companies Plc logged net loss of $-24 million, instead of net income of $124 millions achieved in the same quarter a year before.

Beside announcing a net loss in the forth quarter 2016, Oil Well Services & Equipment company, also faced declines in Offshore Rig Utilization (%) -8.33 %, Middle East Avg. Day Rates -7.56 %, Other international Avg. Day Rates -11.05 %.
Analysing further company's results, an astounding rise of 160.59% in Gulf of Mexico Avg. Day Rates to 375,836.00 $ explains the forth quarter 2016 performance. Looking into financial results for the fiscal year 2016, Rowan Companies Plc reported Sales of $1.84 billions and net income of $321 millions.

Oil Well Services & Equipment Company explained also, that Eps surged by 240 % to $2.55 per share from $0.75 in the previous fiscal year, while Sales deteriorated by -13.75 % from $2.14 billions a year ago.

Rowan Companies Plc is expected to report next financial results on May 05, 2017.
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