Rowan revises 3rd quarter outlook

News - September 21, 2001

| More
Describing the company's current outlook, Bob Palmer, Chairman and Chief Executive Officer of Rowan Industries said recently: "July earnings were better than expected and, through August, financial results were about as forecast. However, the outlook for September requires that we revise downward our 'best guess' for third quarter earnings to a range of 20-25 cents per share".

"Rowan's offshore rig utilisation for the third quarter is currently estimated to be 70 per cent, down from 90 per cent during the second quarter. Our averageoffshore day rate for the third quarter should be about $57,000, down from$61,000 during the second quarter".

"We believe the worst soon will be behind us and, during the fourth quarter, our utilisation and average day rates should begin to improve".

More articles from this category

More news

Categories

Product Guide

News Letter

Fill in your name, company and e-mail address below for our bi-weekly newsletter.

Subscribe
Unsubscribe

Clarksons

Powered by MARIS.

Subscribe to Offshore Shipping News Online RSS

Follow Offshore Shipping News Online on Twitter

Subscribe to email updates

Sponsors

sponsorsponsorsponsor

Events

Dredging in India
03-04 September 2014
India, Mumbai.

Maintenance & Repair for Offshore Wind Structures Seminar
17-18 September 2014
United kingdom, London.

Myanmar Offshore Congress 2014
25-26 September 2014
Myanmar, Yangon.

Offshore Marine Crewing
01-02 October 2014
Norway, Oslo.

FPSO Training Course Amsterdam
06-08 October 2014
Netherlands, Amsterdam.

More events