LONDON – LONDON (AP) _ Ensco PLC (ESV) on Wednesday reported a third-quarter loss of $25.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the London-based company said it had a loss of 8 cents. Losses, adjusted for non-recurring costs and pretax expenses, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The offshore contract drilling services company posted revenue of $460.2 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $449.9 million.
Ensco shares have declined 48 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 14 percent. In the final minutes of trading on Wednesday, shares hit $5.05, a decrease of 40 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on ESV at https://www.zacks.com/ap/ESV