Capital Limited (LSE: CAPD) this morning provided its Q1 2023 trading update. The Company is off to a steady start in 2023 with Q1 revenue slightly down (2%) QoQ but 16% higher YoY. Revenues are slightly below our estimates with ARPOR continuing to remain strong (8% above our estimate) offset by the lower-than-expected average fleet due to timing differences between decommissioning of old rigs and replacement rigs commissioning which is hard to predict.
20 Apr 2023
Q1 2023 Trading Update
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Q1 2023 Trading Update
Capital Limited (CAPD:LON) | 89.9 1.1 1.4% | Mkt Cap: 174.1m
- Published:
20 Apr 2023 -
Author:
David Butler -
Pages:
5
Capital Limited (LSE: CAPD) this morning provided its Q1 2023 trading update. The Company is off to a steady start in 2023 with Q1 revenue slightly down (2%) QoQ but 16% higher YoY. Revenues are slightly below our estimates with ARPOR continuing to remain strong (8% above our estimate) offset by the lower-than-expected average fleet due to timing differences between decommissioning of old rigs and replacement rigs commissioning which is hard to predict.