Rowan Cos. (RDC) Misses Q2 EPS by 6c

Rowan Cos. (NYSE: RDC) reported Q2 EPS of $0.75, $0.06 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $611.9 million versus the consensus estimate of $489.22 million.

Tom Burke, President and Chief Executive Officer, commented, "Our ability to add significant backlog in a challenging market environment is a testament to our outstanding crews. I'm pleased that we secured over 700 contract days of new backlog between a blend and extend agreement on our ultra-deepwater drillship, the Rowan Resolute, and contract extensions in our jack-up fleet. We ended the second quarter with our lowest total recordable incident rate (TRIR) on record and our operational downtime was less than 2% for our fleet. Rowan believes safe, reliable and efficient operations are paramount in securing additional work with both new and existing customers."

For earnings history and earnings-related data on Rowan Cos. (RDC) click here.

You May Also Be Interested In

• Wolfe Research starts Ferrari at Outperform, sees 'solid upside potential'
• Freedom Broker Starts Holley (HLLY) at Buy
• Raymond James Starts Wintrust Financial (WTFC) at Outperform