Offshore drilling contractor Noble Corporation will report earnings Monday after market hours. Last quarter, the company beat revenue expectations with $785.7 million, down 10.2% year on year, and also exceeded EPS estimates. For this quarter, analysts expect revenue to decline 18.1% year on year, a reversal from the 22.5% growth in the same quarter last year. Peers in the oilfield services segment have already reported, with World Kinect posting 50.3% revenue growth and Oceaneering up 10%, both beating estimates. Noble Corporation shares are up 12.5% over the last month, heading into earnings with an average analyst price target of $48.73 compared to the current share price of $43.12.
Noble Corporation plcEarnings report expected; prior beat and analyst price target above current price, but revenue decline forecast.
World Kinect Corporation
Oceaneering International Inc