Diamond Offshore Drilling (NYSE:DO)
Historical Stock Chart
From Jun 2018 to Jun 2020
By Colin Kellaher
Diamond Offshore Drilling Inc. (DO) on Monday reported better-than-expects results for the first quarter amid solid fleetwide operational efficiency.
The Houston contract driller posted a quarterly loss of $73.3 million, or 53 cents a share, compared with a net income of $19.3 million, or 14 cents a share, a year earlier.
Analysts polled by FactSet were expecting a loss of 59 cents a share.
Revenue fell to $233.5 million from $295.5 million a year ago but topped the $232.7 million Wall Street was expecting.
Diamond Offshore, which is majority owned by Loews Corp. (L), said its total contracted backlog stood at $1.8 billion at April 1, adding that the backlog doesn't include more than $450 million of work secured this month for its Ocean BlackRhino, Ocean BlackHawk and Ocean GreatWhite drillships.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
April 29, 2019 07:15 ET (11:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.