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BHPBF - Noble Corporation: Earnings Were Okay But Company Continues To Struggle
BHP Group Plc
On Wednesday, February 19, 2020, offshore drilling giant Noble Corporation (NE) announced its fourth quarter 2019 earnings results. At first glance, these results were solid as the company managed to beat the expectations of its analysts in terms of both top-line revenues and bottom-line earnings. With that said though, the company has been struggling for quite some time, which is at least partly due to its relatively high debt load and the fact that dayrates for rigs continue to be rather low. There were certainly a few positives in this report but I