Noble Corp (NE) Tops Q1 EPS by 3c

Noble Corp (NYSE: NE) reported Q1 EPS of ($0.34), $0.03 better than the analyst estimate of ($0.37). Revenue for the quarter came in at $281 million versus the consensus estimate of $270.58 million.

Outlook

Commenting on the state of the offshore drilling industry, Ms. Robertson added, "The reduction in demand as a result of the COVID-19 pandemic and the precipitous escalation in global crude oil supplies have placed the oil and gas industry in a state of heightened duress. The consequences of this combination of detrimental events are increasingly visible, and the offshore drilling industry will endure another period of depressed business activity for a duration of time that remains difficult to forecast.

"We are committed to continuing our efforts to establish and enforce the most effective measures for maintaining the health and safety of our global offshore and shore-based employees, service providers and customers. Our dedication to strong and consistent operational excellence will be of paramount importance through this challenging time. As we have for the duration of this extended downturn, we will continue to engage with and support our customers as they execute on their current drilling plans as well as evaluate their offshore drilling requirements for 2020 and beyond."

For earnings history and earnings-related data on Noble Corp (NE) click here.

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