Another Quarter of Losses Brings Noble's Cash Problem Into Focus
No-moat Noble Corp. posted a net loss of $71 million ($0.29 per share), wrapping up a tenth consecutive quarter of operating losses. Quarterly revenue increased to $283 million, or 20% year over year, positively influenced by an increase in operating days and negatively impacted by a bottoming out in day rates that has persisted since third-quarter 2018.Noble possesses a lean fleet of 25 drill ships, jackups, and floaters, only four of which are stacked without any contacts in the pipeline, tha...
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