Hornbeck Offshore Services Bottom Line Drops 45% In Q3

(RTTNews) - Hornbeck Offshore Services (HOS) announced earnings for third quarter that fell compared to the same period last year.

The company said its profit totaled $14.42 million, or $0.40 per share. This was down from $26.36 million, or $0.71 per share, in last year's third quarter.

Analysts had expected the company to earn $0.29 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 30.3% to $116.28 million. This was down from $166.89 million last year.

Hornbeck Offshore Services earnings at a glance:

-Earnings (Q3): $14.42 Mln. vs. $26.36 Mln. last year. -Earnings Decline (Y-o-Y): -45.3% -EPS (Q3): $0.40 vs. $0.71 last year. -EPS Decline (Y-o-Y): -43.7% -Analysts Estimate: $0.29 -Revenue (Q3): $116.28 Mln vs. $166.89 Mln last year. -Revenue Change (Y-o-Y): -30.3%