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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 second quarter 2017 operating income of $26.1 millions



Rowan Companies Plc reported disappointing second quarter 2017, where Sales melted down by -47.67 % to $320 millions and company posted loss per share to $-0.23, compare to $1.72, in the same quarter a year ago.

Compare to previous quarter eps fell from $0.07 per share and Sales deteriorated by -14.45 % from $374 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 second quarter 2017 Rowan Companies Plc logged net loss of $-29 million, instead of net income of $217 millions achieved in the same quarter a year before.

Beside announcing a net loss in the second quarter 2017, 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 second quarter 2017 performance.

Rowan Companies Plc is expected to report next financial results on November 01, 2017.
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