U.S. Markets closed

Ensco beats 4Q profit forecasts

LONDON (AP) _ Ensco PLC (ESV) on Monday reported fourth-quarter net income of $39 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the London-based company said it had profit of 13 cents. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to 9 cents per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The offshore contract drilling services company posted revenue of $504.6 million in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $509 million.

For the year, the company reported net income of $890.2 million, or $3.13 per share, swinging to a profit in the period. Revenue was reported as $2.78 billion.

Ensco shares have climbed 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 6 percent. In the final minutes of trading on Monday, shares hit $10.31, a rise of 31 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ESV at https://www.zacks.com/ap/ESV


Keywords: Ensco, Earnings Report