Vantage Drilling Earnings: Here’s Why Investors Like These Results

Vantage Drilling Company (AMEX:VTG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.39%.

Vantage Drilling Company Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.01 in the quarter versus EPS of $-0.03 in the year-earlier quarter.

Revenue: Rose 62.28% to $170.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Vantage Drilling Company reported adjusted EPS income of $0.01 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $157.28 million.

Quoting Management: Paul Bragg, Chairman and Chief Executive Officer, commented, “We are very pleased to have had another strong operating quarter from our fleet. We have added additional backlog for the Tungsten Explorer and anticipate a successful commencement of operations in September. Since the quarter end, we have ordered another ultra-deepwater drillship, the Cobalt Explorer. The Cobalt Explorer is scheduled for a 3rd quarter 2015 delivery.”

Key Stats (on next page)…

Revenue increased 16.05% from $147 million in the previous quarter. EPS increased to $0.01 in the quarter versus EPS of $-0.08 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.03 to a profit $0.04. For the current year, the average estimate has moved up from a profit of $0.03 to a profit of $0.05 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)