Rowan Cos. (RDC) Tops Q2 EPS by 12c

Rowan Cos. (NYSE: RDC) reported Q2 EPS of $0.68, $0.12 better than the analyst estimate of $0.56. Revenue for the quarter came in at $508.7 million versus the consensus estimate of $507.16 million.

Tom Burke, President and Chief Executive Officer, commented, "We are pleased with the completion of our ultra-deepwater newbuild program and the early contract commencement of theRowan Relentless, our fourth drillship. The additional operating days from our drillships coupled with continued cost control efforts provided solid results in the second quarter.

"Our industry is in the midst of a difficult downturn with an uncertain duration, but we believe our contractual backlog and strong balance sheet remain key strengths that will safeguard us until market recovery."

For earnings history and earnings-related data on Rowan Cos. (RDC) click here.

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