Paragon Offshore Reports First Quarter 2015 Results

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Go back to Paragon Offshore Reports First Quarter 2015 Results

Paragon Offshore (PGN) Reports Q1 Revenue of $430M, Offers Outlook

May 13, 2015 4:55 PM EDT

Paragon Offshore (NYSE: PGN) reported Q1 EPS of $0.47, may not compare to the analyst estimate of $0.23. Revenue for the quarter came in at $430 million versus the consensus estimate of $418.72 million.

Outlook

During the quarter, Paragon added approximately $108.0 million in backlog related primarily to previously disclosed new contracts and extensions in the North Sea and West Africa. In the North Sea, the Paragon HZ1 received a contract extension from early July 2015 to late August 2016 at a dayrate of $142,000 while the Paragon C463 received a new contract with GDF SUEZ for 225 days beginning late January 2015... More