- Adnoc Drilling reported a 2nd quarter profit of $295.0 million, which is a 30% increase year-on-year. Analysts had estimated a profit of $284.8 million.
- Revenue for the quarter was $935.4 million, marking a 29% growth year-on-year, exceeding the estimated revenue of $917.4 million.
- The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) came in at $472 million, surpassing the estimate of $443.6 million.
- Earnings per share (EPS) were 1.840 cents, compared to 1.420 cents in the same quarter last year.
- Adnoc Drilling currently has 13 buy recommendations, 1 hold, and no sell ratings.
A look at ADNOC Drilling PJSC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
ADNOC Drilling PJSC, a drilling company, has received mixed reviews on its long-term outlook according to the Smartkarma Smart Scores. While scoring high in Growth and Momentum, with scores of 4 and 5 respectively, the company falls short in other areas. With a Value score of 2, ADNOC Drilling may not be perceived as undervalued in the market. Its Dividend and Resilience scores also stand at 2, indicating average performance in terms of dividends and resilience to market fluctuations. Despite these mixed ratings, the company continues to offer drilling and well construction services globally.
ADNOC Drilling PJSC’s strong points seem to lie in its Growth potential and Momentum in the market. These aspects suggest that the company is actively expanding and gaining traction among investors. However, investors may want to consider the company’s valuation and dividend performance before making long-term investment decisions. As ADNOC Drilling operates in the drilling sector, its ability to adapt to market changes and maintain a competitive edge will be crucial for its future success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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