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Awilco Drilling (AWDR) earnings and dividend ahead

14/11/2013 · Awilco Drilling (AWDR) 

Awilco Drilling reported 3Q13 earnings and dividend ahead of expectations

Oslo broker FondsFinans comments:
Dividend was unexpectedly raised to USD 1.1 vs. consensus at USD 1.0. EBITDA came in at USD 46m, beating expectations of around USD 40m on utilization of 98.9% (95% expected) and slightly lower OPEX. NIBD was USD 57m compared to our estimate of USD 61m. The higher dividend boosts the dividend case and is a positive trigger. We will potentially make minor positive changes to OPEX, while utilization estimates will…

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