Hamilton, Bermuda-based Seadrill Ltd. (SDRL - Snapshot Report) primarily provides services related to offshore drilling activities to customers worldwide. The company holds a robust portfolio of modern fleet with new equipment that command higher rates compared with its peers.
Currently, Seadrill has a Zacks Rank #3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. Coming to earnings surprise history, the partnership has surpassed estimates in three of the last four quarters, leading to an average beat of 14.17%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Seadrill beats on earnings. Diluted earnings per share came in at 77 cents, comfortably above the Zacks Consensus Estimate of 59 cents.
Revenue: Revenues misses expectations. Revenues of $1,147 million failed to meet the Zacks Consensus Estimate of $1,173 million.
Key Stats: The ‘Floater’ segment reported revenues of $786 million against $852 million in the year-ago quarter. Net operating income of $257 million was down from the second quarter 2014 figure of $361 million.
The ‘Jackup rig’ unit registered revenues of $328 million compared with $335 million in the prior-year quarter. Net operating income of $123 million was higher than $112 million recorded a year ago.
Following a gain of 2.5% yesterday, Seadrill is up over 3% in pre-market trading this morning.
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