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 Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Denmark Issues New Pilotage Regulations

In an effort to make the pilotage market more efficient, the Danish Maritime Authority (DMA) issued several new regulations following on amendments to the pilotage act.

US Shippers, West Coast Dockworkers Union Resume Contract Talks

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports,

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2238 sec (4 req/sec)