Ensco Earnings: Here’s Why the Stock is Down Now

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Ensco plc (NYSE:ESV) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.28%.

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Ensco plc Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 17.24% to $1.36 in the quarter versus EPS of $1.16 in the year-earlier quarter.

Revenue: Rose 12.03% to $1.15 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ensco plc reported adjusted EPS income of $1.36 per share. By that measure, the company beat the mean analyst estimate of $1.29. It beat the average revenue estimate of $1.14 billion.

Quoting Management: Chairman, President and Chief Executive Officer Dan Rabun stated, “During the quarter, ENSCO 8506, the final rig in the ENSCO 8500 Series®,began work for Anadarko in the U.S. Gulf of Mexico. ENSCO DS-6, our fourth Samsung DP3 drillship, commenced drilling operations for BP in Angola. In both cases, these ultra-deepwater assets started multi-year programs for repeat customers reinforcing the advantages that fleet standardization provides for us and our customers.”

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