Rowan Cos. (RDC) Tops Q3 EPS by 24c

Rowan Cos. (NYSE: RDC) reported Q3 EPS of ($0.17), $0.24 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $291.6 million versus the consensus estimate of $281.22 million.

Tom Burke, President and Chief Executive Officer, commented, "Our third quarter financial results reflect our ability to successfully manage through this challenging cycle by executing safe, efficient and reliable operations, while continuing to focus on control of costs." Dr. Burke added, "The recent launch of ARO Drilling is a milestone for Rowan Companies. We believe this joint venture will provide us with solid visible earnings growth throughout the next decade. We are pleased that the start-up of ARO Drilling had a positive impact on our liquidity as evidenced by the receipt of an $88 million cash distribution in October."

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

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