Atwood Oceanics Earnings Preview: Can This Streak Continue?

Atwood Oceanics (NYSE:ATW) will report earnings after markets close on Wednesday, May 1st. Atwood Oceanics, Inc. performs contract drilling of exploratory and development oil and gas wells in offshore areas, and provides related support, management, and consulting services. The Company also provides labor, supervisory, and consulting services to operator-owned platform rigs in Australia.

Here is your Cheat Sheet to Atwood Oceanics Earnings:

Earnings Expectations: Analysts expect earnings of $1.23 per share on revenues of $253.97 million. Currently, the company’s P/E ratio stands at 11.28.

Analyst Trends:

Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.31 to a profit $1.35. For the current year, the average estimate is a profit of $5.06, which is better than the estimate ninety days ago.

Earnings Trends:

Here’s how Atwood Oceanics has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 526.60 586.51 650.56 645.08 787.42
Diluted EPS ($) 3.34 3.89 3.95 4.15 4.14

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 184.67 171.62 178.60 252.52 245.09
Diluted EPS ($) 1.00 0.90 0.79 1.448 1.10

Past Performance:
Atwood Oceanics has beat analyst estimates 4 times in the past four quarters. Shareholders could expect a boost if the company beats estimates.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]