Ensco's Earnings May Not Impress Investors, but Its Outlook Might
Recent earnings results may not show it, but it's looking like the offshore rig market is starting to pick up again. There was no better example of this than Ensco's (NYSE: ESV) most recent quarter. Not only did the company succeed in obtaining new contracts, but management swung for the fences by acquiring Atwood Oceanics (NYSE: ATW).
Let's take a look at the conflicting narratives for Ensco right now -- its deteriorating earnings and its prospects -- to figure out what is going on with this stock and the rig market in general.
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Source: Fool.com
