Delivery alert

There may be an issue with the delivery of your newspaper. This alert will expire at NaN. Click here for more info.

Recover password

Diamond Offshore Drilling: 4Q Earnings Snapshot

HOUSTON — Diamond Offshore Drilling Inc. (DO) on Monday reported a loss of $79.2 million in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of 58 cents. Losses, adjusted for pretax expenses and restructuring costs, came to 42 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The offshore oil and gas drilling contractor posted revenue of $232.5 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $246.9 million.

Diamond Offshore Drilling shares have risen nearly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 8 percent. The stock has declined 33 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DO at https://www.zacks.com/ap/DO

AlertMe

Advertisement

TOP |