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Last €20.68 EUR
Change Today +0.027 / 0.13%
Volume 0.0
RC0 On Other Exchanges
New York
As of 9:46 AM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

rowan companies plc-a (RC0) Snapshot

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06/18/14 - €24.01
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rowan companies plc-a (RC0) Details

Rowan Companies plc provides offshore oil and gas contract drilling services. It operates a fleet of 30 self-elevating mobile offshore jack-up drilling units, as well as 3 ultra-deepwater drill ships. The company operates in the United States Gulf of Mexico, the United Kingdom, and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia, and Trinidad. Rowan Companies plc was founded in 1923 and is based in Houston, Texas.

4,051 Employees
Last Reported Date: 03/2/15
Founded in 1923

rowan companies plc-a (RC0) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $995.0K
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: $922.1K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $720.0K
Senior Vice President of Operations
Total Annual Compensation: $409.8K
Chief Administrative Officer, Executive Vice ...
Total Annual Compensation: $470.1K
Compensation as of Fiscal Year 2014.

rowan companies plc-a (RC0) Key Developments

Rowan Companies plc Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Noncash Impairment Charge for the First Quarter of 2015; Provides Financial Guidance for the Second Quarter and Full Year of 2015

Rowan Companies plc reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $123.7 million, or $0.99 per share, compared to $59.6 million, or $0.48 per share in the first quarter of 2014. Revenues were $547.0 million against $377.6 million, an increase of 45% over the prior-year quarter due primarily to the contributions from three of the company's new build ultra-deep water drill ships. Net cash provided by operations was $244.8 million against $80.5 million a year ago. Property, plant and equipment additions were $514.3 million against $532.5 million a year ago. Income from operations was $174.5 million or $0.99 per share against $76.6 million or $0.45 per share a year ago. Income from continuing operations before income taxes was $140.9 million against $55.9 million a year ago. Net income from continuing operations was $123.7 million against $55.6 million a year ago. Non-GAAP net income was $123.7 million or $0.99 per diluted share against $34.7 million or $0.28 per diluted share a year ago. Non-GAAP adjusted EBITDA was $264.2 million against $126.6 million a year ago. Capital expenditures related to the company's new build drill ships totaled $478 million in the first quarter. The remaining $36 million of capital expenditures during the first quarter primarily related to maintenance CapEx. For the quarter, the company reported noncash impairment charge of $565 million on its 12 oldest jack-up rigs. The company continues to estimate full year 2015 depreciation expense to range from $385 million to $395 million. The company estimates 2015 interest expense net of capitalized interest to approximate $145 million to $150 million. The company expects its full year 2015 tax rate to range from 10% to 15%, which is at the upper end of previous guidance due to additional income and higher tax jurisdiction and reduced interest expense deductions in the U.S. The company estimates its full year 2015 capital expenditures to range from $775 million to $800 million, with $595 million to $620 million for the final 2 new build drill ships and related costs which include the rig mobilization commissioning, fleet spares and associated costs prior to commencing operations. The company expects for second quarter 2015 depreciation expense to be $95 million. The company estimates 2015 interest expense net of capitalized interest to be $30 million.

Rowan Companies plc Amends and Restates its Revolving Credit Agreement to Increase the Borrowing Capacity and to Extend the Maturity Date

Rowan Companies plc amended and restated its revolving credit agreement to increase the borrowing capacity from $1.0 billion to $1.5 billion and to extend the maturity date by one year to January 23, 2020. Commitments during the final year of the agreement decline by $60 million to $1.44 billion.

Rowan Companies Seeks Acquisitions

Tom Burke, President and Chief Executive Officer of Rowan Companies plc (NYSE:RDC) said, "We have been asked about whether we would buy distressed assets. We continually review potential assets to acquire. However, until drilling demand recovers or assets like this decline significantly, we do not foresee a purchase in the near future."


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