Pacific Drilling (PACD) Tops Q1 EPS by 4c, Revenues Beat

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Go back to Pacific Drilling (PACD) Tops Q1 EPS by 4c, Revenues Beat

Pacific Drilling Announces First-Quarter 2020 Results

May 7, 2020 4:31 PM EDT

LUXEMBOURG--(BUSINESS WIRE)-- Pacific Drilling S.A. (NYSE: PACD) (Pacific Drilling or the Company) today reported results for the first quarter of 2020. Net loss for first-quarter 2020 was $61.0 million or $0.81 per diluted share, compared to net loss of $308.1 million or $4.11 per diluted share in fourth-quarter 2019.

Pacific Drilling CEO Bernie Wolford commented, The first quarter of this year started strong with improving market fundamentals and solid demand growth for high-specification drillships, reflected in increased utilization and rising dayrates. Pacific Khamsin worked through the quarter in the U.S. Gulf of Mexico on a... More