Oil field services provider Superior Energy Services Inc (SPN.N: Quote, Profile, Research) reported higher first-quarter earnings, beating market estimates, as higher demand in its well intervention group and rental tools segment offset the weakness in its marine segment.
Net income for the quarter was $102.1 million, or $1.24 a share, compared with $64.0 million, or 78 cents a share, a year earlier.
Excluding items, earnings were 91 cents a share. Total revenue rose 21 percent to $441.4 million.
Analysts on average expected earnings of 78 cents a share, before special items, on revenue of $394.5 million.
