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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...

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