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Offshore Drillers: Analysts’ Second-Quarter Revenue Estimates

Sue Goodridge - Author
By

Jun. 25 2018, Updated 10:31 a.m. ET

Analysts’ estimates

We discussed analysts’ recommendations in the previous part of this series. Now, we’ll compare analysts’ estimates for five offshore drilling (XLE) companies’ revenues and EBITDA in the second quarter.

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Comparing estimates

  • Transocean’s (RIG) estimated second-quarter revenues are $764.5 million—15% above the previous quarter and 7.5% higher YoY (year-over-year). Transocean’s estimated second-quarter EBITDA is $280.9 million, which is higher than $208 million in the first quarter.
  • Noble’s (NE) estimated second-quarter revenues are $257.7 million—9.5% higher than the previous quarter and 7.3% lower YoY. The company’s estimated second-quarter EBITDA is $82.3 million—11.1% lower YoY.
  • Rowan Companies’ (RDC) estimated second-quarter revenues are $204.7 million—36.1% lower YoY. The estimated second-quarter revenues are 3% lower than the previous quarter. The estimated second-quarter EBITDA is $14.7 million—88.7% lower YoY.
  • Ensco’s (ESV) second-quarter revenue estimate is $444.9 million—2.8% lower YoY and 6.6% higher than the previous quarter. The second-quarter EBITDA estimate of $81.4 million is 45.5% lower YoY.
  • Diamond Offshore’s (DO) estimated second-quarter revenues are $279 million—29.9% lower YoY and 5.4% lower sequentially. The estimated second-quarter EBITDA is $55.09 million—69% lower YoY.
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