Archer Ltd (OSL:ARCH)
kr 23.315 0.33 (1.44%) Market Cap: 2.11 Bil Enterprise Value: 6.58 Bil PE Ratio: 0 PB Ratio: 0.75 GF Score: 63/100

Q3 2019 Archer Ltd Earnings Call Transcript

Nov 06, 2019 / 08:00AM GMT
Release Date Price: kr36.27 (-16.00%)
Operator

Welcome to the Archer Third Quarter 2019 Results. (Operator Instructions) Today, I'm pleased to present Executive Chairman, Kjell-Erik Ãstdahl; and CFO, Dag Skindlo. Please go ahead with your meeting.

Kjell;Erik Ã;stdahl
Archer Limited - Executive Chairman

Thank you, Dimitri. Good morning, ladies and gentlemen, and thank you for joining us for Archer's Third Quarter 2019 Earnings Conference Call.

Moving to Slide 2. I would like to note that the information provided in today's call includes forward-looking statements as well as non-GAAP financial measures.

I will summarize Archer's highlights from the third quarter before Dag will review operation and the financials. Before ending the call, I will open the line for questions.

Next slide, please. We continued to deliver strong margins. EBITDA once again landed above 10% for the fifth consecutive quarter, along with an EBIT of 5%. During the quarter, both our modular rigs were contracted for work starting in 2020. The market for modular rigs is growing

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