Power Hedge
Macro, energy, alternative energy, contrarian

Rowan Q2 Results Show Promising Signs

Rowan Companies (NYSE:RDC), an offshore drilling contractor, announced its second quarter 2014 results on Wednesday, August 6. These results were admittedly somewhat disappointing. This was especially true because this quarter marked the commencement of operations for the company's first ultra-deepwater drillship. The company's newbuild drillships have long held the potential to significantly grow the company going forward. I have written about this before. However, there were enough positive signs in the company's earnings report to justify remaining confident in its potential going forward.

As my long-time readers are already likely aware, it is my general practice to share the highlights from the company's earnings report when performing an analysis such as this. This is in order to provide...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
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