Seadrill Ltd (SDRL) Releases Earnings Results, Misses Expectations By $-0.26 EPS

Seadrill Ltd (SDRL) reported quarterly earnings results on Thursday, May-26-2016. The company reported $0.15 earnings per share for the quarter, missing the analyst consensus estimate by $-0.26. Analysts had a consensus of $0.41. The company posted revenue of $891.00 million in the period, compared to analysts expectations of $893.20 million. The company’s revenue was down -28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Seadrill Ltd opened for trading at $3.05 and hit $3.48 on the upside on Wednesday, eventually ending the session at $3.41, with a gain of 11.44% or 0.35 points. The heightened volatility saw the trading volume jump to 1,35,09,262 shares. Company has a market cap of $1,680 M.

Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships semi-submersible rigs and jack-up rigs for operations in shallow and deep water areas as well as benign and harsh environments. The Company has three operating segments: Floaters Jack-ups rigs and Other. The Company’s Floaters segment includes drillships and semi-submersible rigs. The Company’s Jack-ups rigs segment includes jack-up rigs. The Company’s Other segment consists primarily of rig management services. The Company through its subsidiaries owns and operates its offshore drilling units and makes investments in other offshore drilling and oil services companies. Its subsidiaries include North Atlantic Drilling Ltd Sevan Drilling ASA and Asia Offshore Drilling. It owns and operates approximately 43 offshore drilling units and has 16 offshore drilling units under construction.

Seadrill Ltd

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