Ocean Rig UDW (ORIG) Misses Q4 EPS by 5c, Miss on Revenues

Ocean Rig UDW (NASDAQ: ORIG) reported Q4 EPS of $0.96, $0.05 worse than the analyst estimate of $1.01. Revenue for the quarter came in at $211.48 million versus the consensus estimate of $219.77 million.

Fourth Quarter 2017 Financial Highlights

• For the fourth quarter of 2017, the Company reported net income of $79.4 million, or $0.87 basic and diluted earnings per share.Included in the fourth quarter 2017 results are:-- Costs of $8.4 million, or $0.09 per share, associated with the Ocean Rig Mykonos and the Leiv Eiriksson shipyard stays are included in operating expenses.
• Excluding the above items, the Company would have reported net income of $87.8 million, or $0.96 per share.
• The Company reported Adjusted EBITDA(1) of $136.8 million for the fourth quarter of 2017.
• Our fleet under contract achieved a revenue efficiency of 98.7% for the fourth quarter of 2017.

For earnings history and earnings-related data on Ocean Rig UDW (ORIG) click here.

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