BDRLF - Noble Corporation - Weak Fundamentals But Management Upbeat On Industry Prospects
Note:
Noble Corporation (NYSE:NE) has been covered by me previously, so investors should view this as an update to my earlier articles on the company.
On Wednesday, leading offshore driller Noble Corporation reported respectable Q1/2019 results with key metrics coming in mostly above previous guidance and management even raising full-year revenue expectations slightly.
Source: Company's SEC-Filings, Author's own work
On the flipside, the company's cash balance was literally cut in half quarter-over-quarter largely due to elevated capital expenditures and some debt management activities resulting in a further reduction of short-term maturities and some