Hornbeck Reports 1Q Results

Friday, May 05, 2006
Hornbeck Offshore Services Inc. on reported that first-quarter earnings nearly tripled as rates for offshore transport services rose. Net income rose to $14.9 million, or 54 cents per share, from $5.2 million, or 25 cents per share, in the year-ago period, which included a charge of $1.1 million, or 5 cents per share, related to early debt repayment. Analysts polled by Thomson Financial expected 49 cents per share. Revenue rose 61 percent to $61.1 million from $37.9 million last year, beating the average Wall Street estimate of $57.3 million. Offshore vessels, which transport oil products, accounted for $38.5 million of the total, an increase of 62 percent from a year ago. The average daily rate for the vessels rose 57 percent to $18,175 from $11,577. Looking ahead to the second quarter, Hornbeck forecast per-share earnings between 63 cents and 68 cents, ahead of Wall Street's average estimate of 60 cents. For the year, the company expects to earn $2.70 to $2.92 per share; analysts forecast $2.30. Hornbeck shares rose $2.39, or 6.5 percent, to $39.17 in morning trading on the New York Stock Exchange. In the past year, the stock has traded between $20.10 and $40.73. Source: Houston Chronicle

Maritime Today


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

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

Legal

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Subchapter M: The Designated Person Ashore and You

As the workboat industry marches toward Subchapter M, and ever closer to the International Safety Management (ISM) Code, the appointment of a Designated Person Ashore (DPA) becomes more important,

N.Korean Navy Incursion Draws Warning Shots

A North Korean patrol boat crossed into South Korean waters early on Monday and retreated after the South Korean navy fired warning shots, a South Korean military official said.

Finance

Hempel’s Dynamic Brings Saving for Lemissoler

Global shipmanagement company, Lemissoler Navigation, via its affiliated and managed company Frontmarine Co. Ltd, has achieved significant fuel savings from coating its newbuild 58,

QP, Chevron Ink Offshore Moroccan Deal

Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from

IOCs Stress on OSV Fuel Management Performance

Growing insistence by international oil companies (IOCs) that oilfield contract vessels (OSVs) are fitted with fuel monitoring systems has prompted an upsurge in

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators 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: 0.0767 sec (13 req/sec)