* Q2 rev $1.072 bln vs est $1.08 bln
* Q2 adj EPS $1.41 vs est $1.25
July 25 Ensco Plc, owner of the world's
second-largest offshore drilling fleet, said on Wednesday its
quarterly profit more than tripled, boosted by its $7.3 billion
acquisition of Pride last year and strengthening demand for oil
The London-based company said second-quarter net profit rose
to $342.7 million, or $1.47 per share, from $102 million, or 59
cents per share, a year earlier.
Excluding items, the company earned $1.41 per share.
Revenue grew to $1.072 billion from $564.2 million a year
Analysts on average were expecting earnings of $1.25 per
share, on revenue of $1.08 billion, according to Thomson Reuters
"We ordered two additional drillships that will extend the
substantial earnings growth we achieved this quarter well into
the future," Chief Executive Officer Dan Rabun said in a
Rival Noble Corp gave an upbeat outlook for offshore
drilling worldwide last week as it reported a tripling of
second-quarter profit. Noble and Diamond Offshore Drilling Inc
both said the industry was already close to being sold
out of available deepwater rigs for next year.
Ensco shares have lagged rivals so far in 2012, rising 5
percent compared with gains of between 16 percent and 18 percent
for Diamond, Noble, Seadrill and sector leader
Earlier on Wednesday, Seadrill landed a $4 billion deal in
the Gulf of Mexico for three drillships that will start work in
the second half of 2013.
Shares of Ensco closed at $49.48 on Wednesday on the New
York Stock Exchange.