Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of marine services provider Hornbeck Offshore Services (NYSE: HOS) jumped 10% today after the company released earnings.

So what: Revenue rose 26% to $122.7 million on strong demand for drilling around the world. Earnings per share were $0.49, crushing the $0.20 per share analysts had expected. The higher profit was helped by a higher utilization rate of the company's equipment.

Now what: Hornbeck is riding a wave of new drilling not only in the Gulf of Mexico, but in locations like Brazil and Angola. The company has quickly turned around a business that lost money the last three quarters and the trend suggests that will only continue. The recent run-up in shares makes me a little cautious, but I like the offshore drilling space that Hornbeck is a part of, and I think the industry will continue to grow.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.