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Insurance Recovery News

23 Nov 2015

BW Offshore Suspends Dividend

BW Offshore, a builder and operator of ships that can produce and store oil offshore, suspended its dividend until outlook for the oil sector improved, it said on Monday. The firm posted third-quarter earnings before interest, taxes and depreciation and amortisation of $174 million against expectations for $100 million in a Reuters poll of analysts, down from $120 million a year ago. However, the figure included an insurance recovery of $75 million which was not included in the poll. Reporting by Gwladys Fouche

11 May 2011

Huntington Ingalls Industries Reports Q1 Results

NEWPORT NEWS, Va., May 11, 2011 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries, Inc. (NYSE:HII) reported first quarter 2011 sales of $1.68 billion, down 1.6 percent from the same period last year, and operating margin of 5.0 percent, essentially flat year over year. First quarter earnings per share was $0.92, up from $0.85 in 2010. New business awards for the 2011 first quarter totaled $1.7 billion, bringing total backlog to $17.4 billion as of March 31, 2011. "As a newly independent company, we are focused on providing high-quality products and services to our customers, the U.S.

10 Nov 2008

TBS Reports 3Q, 9 Mo Results

Joseph E. Royce, Chairman and Chief Executive Officer and President of TBS International Limited, stated: "We attribute these record results to the efforts of our worldwide team of shipping professionals delivering our TBS Five Star Service (Ocean Transportation, Logistics, Portside Services, Operations and Strategic Planning) to our global customer base. TBS owns its vessels, deals directly with our clients and presently does not have vessels on long term time charters. "We are in unprecedented times for the global economy and dry cargo shipping industry. The stagnation caused by the crisis in the financial community has interrupted normal trade and reduced cargo movement.

25 Jan 2008

Noble Reports Record Earnings

Noble Corporation reported 4Q 2007 earnings of $347.4 million, or $1.29 per diluted share, versus $199.7 million, or $0.74 per diluted share, for the fourth quarter of 2006. Per-share earnings were up 74 percent from the fourth quarter of 2006 and up nine percent from the $1.18 per share reported for the third quarter of 2007. Earnings for the full year 2007 totaled $4.48 per diluted share compared with $2.66 per diluted share in 2006 (split adjusted). The results for the 2007 fourth quarter include a net after-tax charge of $0.06 per share related to the previously reported fire aboard the drillship Noble Roger Eason and costs associated with the ongoing independent investigation of the Company's Nigerian operations, offset by an insurance recovery on our 2005 Hurricane claims.