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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

Ocean Economy Set to Double in Size by 2030

The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010.   "Calculations based on the

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Sonar Winch
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: 0.0713 sec (14 req/sec)