Hornbeck Offshore Q1 Profit Up

Thursday, May 01, 2008

Hornbeck Offshore Services Inc., posted higher quarterly earnings, but missed market expectations, even as it reaffirmed its full-year earnings outlook, Reuters reported.
Hornbeck, earned $23.1m, or 86 cents a share, compared with $17.5m, or 67 cents a share, a year ago.  Revenue rose 43 percent to $97.5 million.Effective dayrates for the 10 conventional vessels for the first quarter fell sequentially $1,400 to $4,900, the company said in a statement.
Quarterly effective dayrate for its new generation vessels rose 11 percent to $19,359, while that of tug and tank barges fell about 2 percent to $16,315.
Effective dayrate represents the average dayrate multiplied by the utilization rate for the respective period.
Operating margin for the offshore supply vessels, which ferry food, water and personnel to offshore rigs, fell to 43 percent, while that of tug and tank barges, which is used to transport oil, fell to 26.4 percent.  Hornbeck reaffirmed its full-year 2008 earnings outlook of $3.68 to $4.16 a share.

Source:  Reuters

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable.

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1079 sec (9 req/sec)