Rowan Cos. (RDC) Misses Q1 EPS by 1c
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Rowan Reports First Quarter 2017 Results
May 2, 2017 6:45 AM EDTHOUSTON, May 2, 2017 /PRNewswire/ -- For the quarter ended March 31, 2017, Rowan Companies plc (" Rowan " or the " Company ") (NYSE: RDC) reported net income of $10.3 million, or $0.07 per diluted share, compared to net income of $122.8 million, or $0.98 per diluted share, in the first quarter of 2016.
Rowan's revenues totaled $374.3 million in the first quarter of 2017, a decrease of 25% from the prior-year quarter driven by a 28% decline in the Deepwater segment and a 23% decline in the Jack-up segment. The decline in Deepwater revenues resulted from the Rowan Relentless being idle in the current... More
