Diamond Offshore Drilling Earnings: Here’s Why Investors Like These Results

Diamond Offshore Drilling Inc. (NYSE:DO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.93%.

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Diamond Offshore Drilling Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.96% to $1.27 in the quarter versus EPS of $1.21 in the year-earlier quarter.

Revenue: Decreased 5.06% to $729.74 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Diamond Offshore Drilling Inc. reported adjusted EPS income of $1.27 per share. By that measure, the company beat the mean analyst estimate of $1.16. It beat the average revenue estimate of $713.09 million.

Quoting Management: “We are pleased with the first-quarter results, which reflect our ongoing success at containing operating expenses,” said Larry Dickerson, President and Chief Executive Officer of Diamond Offshore.

Key Stats (on next page)…

Revenue decreased 2.77% from $750.54 million in the previous quarter. EPS decreased 9.93% from $1.41 in the previous quarter.

Looking Forward: 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 $1.17 to a profit $1.25. For the current year, the average estimate has moved down from a profit of $5.14 to a profit of $4.44 over the last ninety days.

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