It is call a B2. The most capable plane in the world. Thanks for pointing out just how good PGN will perform when it lifts off. You see, the B2 can not be seen by most if not all seekers that wish it harm. I would expect your id to be gone and join He-Ha as well. You might add that PGN is also up 2%.
Here is just one more example of a rush to report numbers without double checking the company published reports. Zacks missed estimates big time so they report incorrect unfavorable earning comparison from Q1 2014 to Q1 2015 to cover their poor forecast. The comparison of 2014 to 2015 should be $.72 for 2015 to $.60 for 2014 per NE Earnings Statement. You always take out the "one time charges and gains".
"Noble Corporation NE, the leading contract drilling company, reported first-quarter 2015 earnings of 72 cents per share. The results comfortably beat the Zacks Consensus Estimate of 53 cents but deteriorated from the year-ago quarter earnings of 80 cents."
Just one more corrupt company, goes hand in hand with Hillary's bribe-to-play concept.
Now a person has corrected (amplified) the EPS for NE comparing it to the correct Q! 2014.
Net income from continuing operations rose to 72 cents from 60 cents a year earlier. In August, Noble completed the spin-off of Paragon Offshore Plc, which owns drilling assets that were previously part of Noble.
When you get anything posted about a company you must check it out yourself with data from the company investor relations.
Darshana Sankararaman in Bengaluru This is from Reuters, reporting a 30% decrease in earnings but they did not remove the .39c from earnings related to discontinued business. It is just ignorance on Reuters part.
Most all line items fell within a few million except CD Operating cost due to over estimated rig unscheduled downtime. I thought is was too high at the time and I did a small adjustment but not enough.
Q1 2015A to Q1 2051F
CD Revenue: 779A to 777F
Reimb Exp: 25A to 25F
Total Revenue: 804A to 802F
CD operating Cost: 322A to 361F
Reimb Exp: 20A to 21F
DDA 154A to 153F
Ops Cost 520A to 559F
Ops Income: 284A to 243F
Int Exp: 42A to 43F
IBT: 242A to 200F
Taxes: 43A to 48F
Non Cntrl Intr: -20A to -17F
Net Income: 178A to 135F
EPS $.72A to .56F
Cash gen: 178+154=332 IBITDA about 438.
The analyst will come out later with the correct comparison of $.72 for Q1 2015 to $.60 for Q1 2014 or a 20% increase in EPS and a slight increase in top line revenue of 9m.
You have two reporting media, one is automated and the others is semi-intelligent The nuts reported Q1,2014 with the discontinued PGN business as Q1 2014 earnings and compared it to Q1 2015 as a miss.
RoboDoc is going cause a lot of heart burn for casual investors.
Yes, but when I looked at the estimated unscheduled downtime, I was mystified as to why it was so high. Most all other numbers were within reason. Nice to see a good earnings report in such a poor demand for services from the operators.
As expected. Contract Drilling cost was about $40mm less than forecast resulting in $40mm increase in earnings. I assumed it would be less, but not this much. If NE keeps this rate up, the year and next will be exceptional given the oversupply of rigs vs the huge under demand for oil.
Adjusting forecast schedules assuming no new contracts or extensions, NE gross sales will be a little over 2.8b for 2016. Average of all analyst are 2.8b. Recalling many years following the drillers and the downturns, I can not recall once did RIG, GLM, ESV or others not have new or extended contracts even when oil reached 10pb. What is going on? The analyst must all be new, or they assume Obama oil has been found, or they don't give a hoot! They are not going to move until the drillers tell them they have some new contracts. Why should anyone pay these people for nothing.
Taking a poke and adjusting revenue to 801mm and Net Income to 135mm with EPS of $.56. With less rigs working NE should have less unscheduled downtime. Could be wrong.
You have a 1/2 of a point, the other half would not happen for contracts with the operators are solid and have heavy penalties if the operators break the contract other than failure of the driller to perform.
Might take back a 1/4 as I have not read we have a replacement for oil. Below the surface of the oceans lie vast amounts of hydrocarbons waiting for the drill bit to find oil/gas. This is a cyclical business.
Maybe you should go the company and review their data and not some "computer generated" data that is inaccurate. Regardless of your source, trying to justify your dislike for a company with false data is despicable. A liar was not said, only correcting some misguided information. Stick to what the "analyst" are using when dealing with the performance of a company.
Most "analyst" believe we are in for a long period of free oil and little demand, thus rates will be low for most of 2015 and into 2016. This being said, who forecast huge drop in oil and thus collapse in rates and utilization, no one. So take what ever is being said and watch for oil to start its march back to 70pb.
Watch the fleet reports for ESV, SDRL, NE, for clues to rate movement and NEW two-three year contracts.
You can express an option that you don't like NE, but you may not fabricate your own numbers to justify it. The PE of 460 is so far from the truth its unworthy of a prudent post . Earnings for 2015 will be in the range of 2.00-2.50 with a price of 16, the PE (16/2.00) is 8. Debt is 4.9b or say 5b and Total Equity is 6.5b, the ratio of debt to equity is 3/4 (.75).
If you wish to point out the concerns for NE, stick to revenue, rig utilization and backlog.
The street is estimating a 100mm increase in cash this year, ending with a cash balance of 170mm.