Jefferies Reports Noble Gross Profit Inline

According to Jefferies, Noble NE gross profit is inline. Jefferies said that last night, NE reported recurring 1Q11 EPS of $0.15, slightly below its estimate of $0.16 and Consensus of $0.17 primarily due to higher interest expense. “In fact, gross profit and EBITDA was slightly higher than our forecast (approx. $0.02) but was more than offset by higher interest expense and depreciation.” Noble closed yesterday at $43.43.