Power Hedge
Macro, energy, alternative energy, contrarian

Ensco's First Quarter Results Show Company's Growth Potential And Industry Strength

Offshore drilling contractor Ensco plc (NYSE:ESV) announced its first quarter earnings results on Monday, April 29. Overall, these results continued to show the overall great future potential that we have come to expect from this company. Ensco achieved record revenues in the first quarter and increased its dividend by 33% to $2.00 per share annualized. The company also managed to grow its earnings and operating income significantly year-over-year primarily due to an increase in the average dayrate and an increasing number of operating days for the company's ultra-deepwater fleet. All in all, the company truly showed its potential this quarter.

Before I begin my analysis, here are the highlights from the company's first quarter report:

    Ensco brought in...
Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details