Noble Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Full Year 2015 and Depreciation Guidance for the Fourth Quarter of 2015
Jul 29 15
Noble Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s operating revenue was USD 793,555,000 against USD 803,781,000 a year ago. Operating income was USD 275,149,000 against USD 235,205,000 a year ago. Income before income taxes was USD 217,253,000 against USD 197,493,000 a year ago. Net income from continuing operations was USD 177,848,000 or 0.64 per basic and diluted share against USD 163,228,000 or 0.54 per basic and diluted share a year ago. Net income attributable to the company was USD 159,031,000 or 0.64 per basic and diluted share against USD 234,559,000 or 0.91 per basic and diluted share a year ago. Contract drilling services revenues were USD 771 million in the quarter, although down by approximately USD 8 million or 1% when compared to first quarter revenues of USD 779 million. Second quarter revenues were supported by favorable downtime performance of about 4%. CapEx totaled USD 81 million, including capitalized interest, below guidance of USD 160 million. The lower spend was due to a combination of cost control measures and the timing of spending across all capital categories.
For the six months, the company’s operating revenue was USD 1,597,897,000 against USD 1,598,968,000 a year ago. Operating income was USD 559,508,000 against USD 484,173,000 a year ago. Income before income taxes was USD 459,150,000 against USD 404,801,000 a year ago. Net income from continuing operations was USD 376,298,000 or 1.36 per basic and diluted share against USD 334,958,000 or 1.14 per basic and diluted share a year ago. Net income attributable to the company was USD 337,434,000 or 1.36 per basic and diluted share against USD 490,885,000 or 1.90 per basic and diluted share a year ago. Net cash from operating activities was USD 767,878,000 against USD 1,031,823,000 a year ago. New construction was USD 23,360,000 against USD 836,251,000 a year ago. Capital expenditures year-to-date to USD 170 million.
For the third quarter, net interest expense is expected to be USD 55 million to USD 60 million. Total CapEx is expected to be about USD 180 million.
The company expects depreciation to increase between USD 2 million and USD 4 million in the fourth quarter.
For the year 2015, the company has reduced its expected capital expenditures by USD 60 million, to USD 525 million following further cost management initiatives and revised timing for certain expenditures pertaining to major projects. Effective tax rate for the year is being lowered from previous guidance of 21% to 23% to a revised range 18% to 20%.
Noble Corporation plc Announces Quarterly Cash Dividend, Payable on August 10, 2015
Jul 24 15
Noble Corporation plc announced its Board of Directors has scheduled the payment of the company's quarterly cash dividend of $0.375 per share. The ex-dividend date for this payment is expected to be July 30, 2015, with a record date of August 3, 2015 and a payment date of August 10, 2015. The company expects that this dividend will be treated as a qualified dividend for purposes of U.S. taxes.