Some of the data that companies give us in earnings releases is either (1) useless or (2) misleading. A great example of this was Ensco's (NYSE:VAL) recent earnings release. With a utilization rate on its higher-priced floating fleet of a measly 68%, it could terrify an investor at first glance. Looking deeper, though, you could see that much of that low utilization rate was because of scheduled downtime and that those rigs were all under contract. 

If anything is of concern regarding Ensco's recent performance, it is what will happen throughout the rest of this year. In the video below, find out what will be critical for Ensco's further success.