SDRL - Seadrill: Some Evidence Of Improving Market But Company Remains Risky
On Thursday, May 23, 2019, offshore drilling contractor Seadrill Ltd. (SDRL) announced its first quarter 2019 earnings results. At first glance, these results appeared to be mixed as the company managed to beat the expectations of its analysts on the top-line but failed to beat earnings expectations. The market seemed to like these results though as shares were up in the pre-market session that accompanied the results (only to plummet after the market opened), although the company's optimism about the increasing number of deepwater tenders being awarded may have played a role here.