Shares of Diamond Offshore Drilling Plunge on Poor Earnings [The Motley Fool]
Diamond Offshore Drilling, Inc. (DO)
Last diamond offshore drilling, inc. earnings: 2/10 06:00 am
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US:NYSE Investor Relations:
investor.diamondoffshore.com
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Source: The Motley Fool
Shares of Diamond Offshore Drilling Plunge on Poor Earnings The offshore driller is finding no respite in this long offshore drilling drought. Shares of offshore rig company Diamond Offshore Drilling ( NYSE:DO ) closed down 16.7% today. The stock plunge comes after the company reported earnings results that didn't pass muster compared to Wall Street estimates. Diamond reported an adjusted second-quarter loss of $0.99 per share compared to Wall Street analyst expectations of an $0.89-per-share loss. The adjustment excludes a modest gain on the sale of a rig in the quarter. The disappointing earnings results is largely a result of an offshore drilling market that has been agonizingly slow to pick back up. Shale drilling in the U.S. has grown at such a fast clip over the past few years that it has replaced the natural decline and most of the increase in global demand. That has disincentivized producers from shelling out the large sums of cash for the exploration and development of offsh
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DO
News
- DIAMOND OFFSHORE TO RELEASE FIRST QUARTER 2024 RESULTSPR Newswire
- There's Been No Shortage Of Growth Recently For Diamond Offshore Drilling's (NYSE:DO) Returns On Capital [Yahoo! Finance]Yahoo! Finance
- Diamond Offshore Drilling: Investors Should Look Beyond Recent Rig Incident Impact - Buy [Seeking Alpha]Seeking Alpha
- Diamond Offshore (DO) Secures Additional Backlog Worth $350M [Yahoo! Finance]Yahoo! Finance
- DIAMOND OFFSHORE ANNOUNCES NEW DRILLSHIP COMMITMENTPR Newswire
DO
Earnings
- 2/27/24 - Miss