Analysts are looking for decreased profit for ENSCO when the company reports its results for the third quarter on Thursday, October 30, 2014. ENSCO reported profit of $1.69 a year ago, but the consensus estimate calls for earnings per share of $1.62 this time around.
Over the past three months, the consensus estimate has increased from $1.46. Analysts are projecting earnings of $5.80 per share for the fiscal year. A year after being $1.27 billion, analysts expect revenue to fall 3% year-over-year to $1.23 billion for the quarter. For the year, revenue is projected to roll in at $4.84 billion.
A year-over-year dip in revenue in the second quarter broke a three-quarter streak of revenue growth.
ENSCO's three-quarter streak of profitability was snapped by last quarter's loss.
ENSCO provides offshore contract drilling services to the international oil and gas industry. Noble Corporation, also in the oil well services and equipment industry, will report earnings on Wednesday, October 29, 2014. Analysts are expecting earnings of 56 cents per share for Noble, down 34% from last year's earnings of 85 cents per share. Other companies in the oil well services and equipment industry with upcoming earnings release dates include: Vantage Drilling, Transocean and Rowan.
Earnings estimates provided by Zacks.
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