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Noble Corporation plc Message Board

  • sollid_companiess_only sollid_companiess_only Jan 23, 2013 5:34 PM Flag

    NE Disappoints Again

    Miss by 11 cents, or by 18% of analysts estimates. With 5 new rigs deployed, NE makes the same profit that it did in the previous year's quarter. Here is Williams latest excuse:

    Addressing the Company's performance in the fourth quarter of 2012, David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation stated, "A company transformation as extensive as we are undertaking can be challenging, and as we saw in the fourth quarter, can produce inconsistent operating performance. Although Noble added three state-of-the-art, ultra-deepwater drillships to its fleet during 2012 and placed two other drillships into service following significant enhancement and maintenance programs, initial operations on these five rigs have not been as seamless as we had hoped, particularly with respect to certain critical components. Approximately 33 percent of the downtime days in the fourth quarter were attributable to these five rigs.

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    • sollid_companiess_only sollid_companiess_only Jan 23, 2013 10:48 PM Flag

      Quarterly results fell way short because operating costs and expenses jumped 27 percent from a year earlier. CEO Williams and the BOD are incompetant and need to go.

    • Rev was up 29% and profit rose 0%. How do you pull that off without trying?

      Noble Corp. NE +0.68% reported late Wednesday a fourth-quarter profit of $128 million, or 50 cents a share, nearly unchanged from $127 million, or 50 cents a share, a year ago. Revenue for the quarter rose 29% to $966 million from $751 million. Analysts surveyed by FactSet had expected the Zug, Switzerland-headquartered offshore oil rig fleet owner to post earnings of 61 cents a share on $957.8 million in revenue. Noble shares were unchanged at $39.85 in after-hours trade. The stock is up nearly 16% over the past 12 months.

      Sentiment: Hold

      • 1 Reply to thedubb
      • Day rates for oil rigs at record highs, 5 more rigs on line, revenue up 29% and no change in profit from the same period of a year ago, which was also a disappointment. Two years ago, the pps for ESV and NE was almost equal. Now the pps for ESV is at $62+ and NE's pps is below $40, and ESV pays a much higher dividend. Williams needs to go, he's incompetent, only good at finding excuses. You can only put up with excuses for so long, and it's been too long.

        Sentiment: Buy

    • SAN FRANCISCO (MarketWatch) -- Noble Corp reported late Wednesday a fourth-quarter profit of $128 million, or 50 cents a share, nearly unchanged from $127 million, or 50 cents a share, a year ago. Analysts surveyed by FactSet had expected the Zug, Switzerland-headquartered offshore oil rig fleet owner to post earnings of 61 cents a share on $957.8 million in revenue.

 
NE
13.02+0.20(+1.56%)4:00 PMEDT