Diamond Offshore Drilling Earnings Preview: Can This Streak Continue?

Diamond Offshore Drilling (NYSE:DO) will report earnings before markets open on Thursday, April 25th. Diamond Offshore Drilling, Inc. drills offshore oil and gas wells on a contract basis. The Company is a world-wide deep water driller that serves markets that include the deep water, harsh environment, conventional semisubmersible and jack-up markets.

Here is your Cheat Sheet to Diamond Offshore Drilling Earnings:

Earnings Expectations: Analysts expect earnings of $1.16 per share on revenues of $713.64 million. Currently, the company’s P/E ratio stands at 12.72.

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 $1.17 to a profit $1.24. For the current year, the average estimate is a profit of $4.46, which is worse than the estimate ninety days ago.

Earnings Trends:

Here’s how Diamond Offshore Drilling has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 3,544 3,631 3,323 3,322 2,987
Diluted EPS ($) 9.42 9.89 6.87 6.92 5.18

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 ($) in millions 748.36 768.64 738.19 729.14 750.54
Diluted EPS ($) 1.35 1.33 1.45 1.28 1.12

Past Performance:
Diamond Offshore Drilling 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] wallstcheatsheet.com)