Hornbeck Offshore Services (HOS) reported first quarter net income of $0.17 per share after the close Wednesday, down from $0.18 per share in the previous year. The consensus estimate was for EPS of $0.30. Revenues rose 23.0% to $147.52 million from $119.97 million in the prior-year quarter. The consensus estimate was for revenues of $136.59 million.
Hornbeck Offshore Services gapped up sharply Thursday and rose during the first hour of trade, before settling into a range. Shares finished with a gain of 6.37 at $49.98 on strong volume. The stock surged past resistance and set a new high for the year.
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