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Hornbeck Offshore Services Q3 Profit From Cont. Ops Rises

Hornbeck Offshore Services, Inc. (HOS) reported income from continuing operations for the third quarter of 2014 of $26.6 million or $0.72 per share, compared to $17.8 million, or $0.49 per share, for the year-ago quarter.

Revenues were $166.9 million for the third quarter of 2014, an increase of $34.0 million, or 25.6%, from $132.9 million for the third quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share and revenues of $172.78 million. Analysts' estimates typically exclude special items.

Hornbeck Offshore Services also announced that its Board has authorized the Company to repurchase up to $150 million in shares of its common stock from time to time.

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