In this video, Motley Fool energy analyst Joel South tells us a bit about Seadrill's (NYSE: SDRL) third-quarter earnings. The company's EPS did miss the mark, and as a result, the company's share price took a slight hit. However, Joel addresses the rig movements and planned downtime, which caused the weaker-than-expected quarter and looks at current utilization rates suggesting that Seadrill is back on the right track.
In addition, Seadrill once again grew its backlog in the third quarter, with total contracts now reaching $21.3 billion. The backlog will help boost EBITDA margins, which should go a long way toward securing the company's industry-leading dividend yield moving forward.
