Ensco International 2nd-qtr earnings increase 17 percentadmin
Ensco International Inc. is reported to have posted a report saying that a 17 percent jump in second-quarter profit and a surge in revenue, beating Wall Street expectations. For the period ended June 30, the contract driller posted profit of $296.7 million, or $2.07 per share, compared with profit of $254.4 million, or $1.72 per share, in the year-ago period. Revenue jumped to $637.1 million from $548.6 million.
Analysts polled by Thomson Financial expected, on average, earnings of $1.98 per share on revenue of $610.6 million. The average day rate for the company’s 44-rig jackup fleet for the period increased to $148,200 from $142,900 over the year-ago period.
Operating expenses jumped to $276.6 million from $234.7 million. Shares fell $3.20, or 4 percent, to $69.60 in midday trading. The stock has ranged from $45.94 to $83.24 over the past year.