Pacific Drilling (PACD) Tops Q4 EPS by 43c

Pacific Drilling (NYSE: PACD) reported Q4 EPS of ($2.03), $0.43 better than the analyst estimate of ($2.46). Revenue for the quarter came in at $178 million versus the consensus estimate of $152.68 million.

• Record revenue efficiency(a) of 99.2% for the fourth quarter yielded revenue of $178.0 million
• Revenue efficiency of 98.2% for the full year 2016 yielded revenue of $769.5 million, as compared to 94.7% and $1,085.1 million, respectively, for the full year 2015
• Net loss for the fourth quarter of $43.0 million, or $2.03 per diluted share, and net loss for the full year of $37.2 million, or $1.76 per diluted share
• EBITDA(b) for the fourth quarter of $92.9 million, representing an EBITDA margin(c) of 52.2%, and adjusted EBITDA(b) for the full year of $413.7 million, representing an adjusted EBITDA margin(c) of 53.8%
• Cash flow from operations for the full year of $249.1 million
• Operating and G&A costs for the full year of $353.4 million, a reduction of $133.4 million or 27.4% from 2015

For earnings history and earnings-related data on Pacific Drilling (PACD) click here.

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