UPDATE 1-Hornbeck Q3 results beat; sees strong FY profit

* Q3 EPS $0.67 vs est $0.24

* Q3 rev $125.4 mln vs est $102.7 mln

* Sees FY adj EPS $1.12-$1.58

Nov 4 (BestGrowthStock) – Marine-transportation firm Hornbeck
Offshore Services Inc (HOS.N: ) posted a third-quarter profit (Read more your timing to make a profit.)
that breezed past estimates on higher revenue from its upstream
segment, and gave a strong full-year forecast.

For the full-year, the company which is valued at $603.4
million, expects adjusted earnings of $1.12-$1.58 per share.

Analysts on average were expecting the company to earn 97
cents, on revenue of $396.4 million for the full year,
according to Thomson Reuters I/B/E/S.

The company’s third-quarter net income rose to $18.2
million, or 67 cents a share, from $13.8 million, or 51 cents a
share, last year.

Revenue rose 39 percent to $125.4 million.

Analysts on average had expected earnings of 24 cents a
share, on revenue of $102.7 million.

Revenue at Hornbeck’s upstream segment, which contributes
about 84 percent of revenue, rose about 52 percent to $112
million.

The Covington, Louisiana-based company’s shares closed at
$23.13 on Wednesday on the New York Stock exchange. They have
gained 58 percent since the company posted strong
second-quarter results in late July. (Reporting by Vaishnavi
Bala in Bangalore; Editing by Unnikrishnan Nair)

UPDATE 1-Hornbeck Q3 results beat; sees strong FY profit