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Offshore Drillers: Analysts’ Second-Quarter Revenue Estimates

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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.

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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