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Quarter Earnings

Carnival Ratings Cut

Deutsche Bank Alex Brown, Salomon Smith Barney and Credit Suisse First Boston have all cut their ratings for top cruise group Carnival Corp. Deutsche Bank Alex Brown and Credit Suisse First Boston downgraded the company to buy from strong buy while Salomon Smith Barney cut ratings to outperform from buy.The downgrades follow Carnival's announcement that second-quarter earnings look weak, in part due to higher fuel costs. First-quarter earnings were in line with Wall Street estimates.


ENSCO 3Q Earnings Hit By Gulf Downturn

ENSCO International Incorporated expects that its third quarter earnings per share will be in the range of $.38 to $.42, and that its fourth quarter earnings per share is expected to be in the range of $.25 to $.30. This trend in results is due primarily to a decline in Gulf of Mexico drilling activity. The company also announced that one of its subsidiaries has received notice of Chevron's intent to effect early termination of the ENSCO I


Newport news to Record Second quarter Gains

Newport News Shipbuilding Inc. reportedly increased its second quarter earnings estimates by about 40 cents per share on stronger margins in its core business and $25 million in one-time pre-tax gains.


Rowan Revises 3Q Business Outlook

With softness in the Gulf of Mexico and the U.S. apparently on the brink of war, Bob Palmer, Chairman and CEO of Rowan, said, "July earnings were better than expected and, through August, financial results were about as forecast. However, the outlook for September requires that we revise downward our 'best guess' for third quarter earnings to a range of 20-25 cents per share. "Rowan's offshore rig utilization for the third quarter is currently estimated to be 70%


Tidewater Reports 1Q Earnings

Tidewater Inc. has announced first quarter net earnings for the period ended June 30, 2011, of $24.6 million, or $0.48 per share, on revenues of $254.6 million. For the same quarter last year, net earnings were $39.8 million, or $0.77 per share, on revenues of $262.5 million. The immediately preceding quarter ended March 31, 2011, had net earnings of $12 million, or $0.23 per common share, on revenues of $254 million. Included in net earnings for the March 31, 2011 quarter were:


Golden Ocean Sees Dry Bulk Market Upswing

Reuters - Dry bulk shipping firm Golden Ocean reported fourth-quarter earnings broadly in line with expectations on Tuesday and said it expects the market to continue recovering as Chinese demand remains strong. Golden Ocean, part of shipping tycoon John Fredriksen's business empire, said its operating profit rose percent to $21.9 million, just ahead of expectations for $21 million. (Reporting by Balazs Koranyi)


Offshore Market 2000: In like a lamb, out like a lion?

Though fraught with traditional starts and stops, peaks and valleys, it appears now the much-anticipated Gulf of Mexico offshore business rebound is imminent. Maybe. Much of the uncertainty surrounding the upswing of offshore activity in the Gulf of Mexico region closely parallels the unpredictable dips and turns of the price per barrel of oil itself. While those in the industry and the financial community are hardly prepared to declare the oil market free from its cyclical shackles


Royal Caribbean to Purchase Pullmantur

Royal Caribbean Cruises Ltd. announced its agreement to purchase Pullmantur S.A., a Madrid-based cruise and tour operator. Royal Caribbean expects the acquisition to be completed by the fourth quarter of 2006, subject to regulatory approvals. Pullmantur, formed in 1971, is the largest cruise operator in Spain. It has two primary business interests: cruises and tour operations. Its cruise division consists of five ships operating in Europe and Latin America


DH Tankers Earnings Rise

Double Hull Tankers Inc., which owns and operates a fleet of crude oil tankers, said Wednesday its second-quarter earnings rose 11 percent on strong charter rates and continued demand for its vessels. The company earned $7.4m, or 25 cents per share, compared with $6.7m, or 22 cents per share in the second quarter of 2006. Shipping revenues - or revenue less voyage expenses, a performance indicator for shipping companies - increased 7 percent to $20.7 million, from $19


Maritrans Reports Results for Quarter

Maritrans Inc. reported its net income for the third quarter 2001 and announced an early pay-down of its long-term debt. Maritrans also commented on estimated 2001 and 2002 earnings, reported on the status of its stock buy-back program and announced an investor teleconference whereby management would be available to further comment on the issues. Maritrans Inc. reported net income for the quarter ended September 30, 2001, of $1.4 million, or $.14 diluted earnings per share, on


Seadrill Sees Bigger Drilling Market Slowdown

Reuters - The global oil drilling market will slow by more than expected over the next two years as energy firms save cash for dividends and delay exploration, Seadrill , the world's biggest offshore driller by market capitalisation, said.


Huntington Ingalls Industries 2013 Revenues Increased

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Huntington Ingalls Industries reports Fourth Quarter & Year 2013 financial results with increased revenues in each period. Highlights are as follows:     •    Revenues were $1.94 billion for the fourth quarter and $6.82 billion for 2013


Kirby Corp. Order Additional 29 Large Tank Barges

Image courtesy of Kirby Corp.

Kirby Corporation, based in Houston, Texas, the nation's largest domestic tank barge operator, informs it has signed agreements for the construction of 29 additional 30,000 barrel inland tank barges with a total capacity of 830,000 barrels for delivery throughout 2014


Conrad Industries 2013 Profit Slip Ameliorated by New Business

Image courtesy of Conrad Industries

Morgan City, Louisiana, shipbuilder and ship repairer Conrad Industries, has announced its fourth quarter and twelve months 2013 financial result, adding that it has acquired new business during the first quarter of 2014 totalling $67.3 million. Q4 2013


Huntington Ingalls Reports Q2 Results

Mike Petters, HIIs president and chief executive officer

Program Execution Generates Operating Margin and EPS Growth •Revenues were $1.68 billion for the second quarter of 2013 •Segment operating margin was 8.1%, a 70 bps improvement over Q2 2012 •Total operating margin was 6.9%, up from 6.2% in the same period last year


Conrad Industries Ratchet Up Q2 2013 Profits

 Conrad Industries, Inc., headquartered in Louisiana, announce its second quarter and six months 2013 financial results and backlog at June 30, 2013. For the quarter ended June 30, 2013, Conrad had net income of $6.1 million and earnings per diluted share of $1.02 compared to net income of $5


Aker Sees Robust Demand Following Q2 2013 Slip

Aker Solutions ASA second-quarter results 2013 show earnings, order intake down slightly, but little cause for concern on the horizon Financial highlights Aker Solutions generated revenue of NOK 11.9 billion in the second quarter of 2013, compared with NOK 11


General Dynamics Reports 3Q 2013 Results

General Dynamics reported third-quarter 2013 net earnings of $651 million, or $1.84 per share on a diluted basis, on revenues of $7.8 billion. This compares to 2012 third-quarter net earnings of $600 million, or $1.70 per diluted share, on revenues of $7.9 billion


Enso Report Record Earnings, Revenues in Q3 2013

Offshore drilling rig owners Ensco plc record revenues of US$1.3-Billion in their third quarter 2013 financial report. Highlights: Record Revenues Totaling $1.3 Billion
 Record Earnings of $379 Million
 Earnings Per Share Grew 9%
$11 Billion of Contracted Revenue Backlog


Aker Solutions' Subsea Business Does Best in Q3 2013

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Aker Solutions ASA publish their third-quarter results 2013 showing a fairly even performance in the group's sectors, but in subsea widening its profit margin to 10.9 percent from 8.7 percent a year earlier. Financial Highlights Sales were NOK 10


Conrad Industries' Performance Rides High in Q3 2013

Morgan City, Louisiana-based Conrad announce positive third quarter 2013 results, and is to pay a special cash dividend of $2.00 per share. For the quarter ended September 30, 2013, Conrad had net income of $6.5 million and earnings per diluted share of $1.09 compared to net income of $4


Regal Beloit Finalize Cemp Acquisition

Image courtesy of Regal Beloit

US-based manufacturer of electric motors, mechanical and electrical motion controls and power generation products, Regal Beloit, has closed on the acquisition of Cemp, s.r.l., a European manufacturer of hazardous duty motors primarily for oil and gas and marine applications. 


Shell Updates 2013 Reults

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Royal Dutch Shell plc has updated its expected 2013 results. Fourth quarter 2013 figures, which are expected to be published on January 30, 2014 , are expected to be significantly lower than recent levels of profitability, considering current oil and gas prices and the downstream oil products


Aker Solutions Holds Its Own in Q4 2013

Image courtesy of Aker

Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1


MOL's Net Profit Halves in Q4

Reuters - Hungarian oil group MOL's net profit halved in the fourth quarter due to a squeeze on gasoline margins as well as big impairment charges related to its Croatian assets and the shutdown of a refinery in Italy. MOL's upstream business however performed relatively well


 
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