UPDATE 2-Diamond Offshore says path to recovery starting to take shape [Reuters]
Diamond Offshore Drilling, Inc. (DO)
Last diamond offshore drilling, inc. earnings: 2/10 06:00 am
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Source: Reuters
Diamond Offshore says path to recovery starting to take shape | Reuters 3 Min Read (Reuters) - Diamond Offshore Drilling Inc’s ( DO.N ) Chief Executive Officer Marc Edwards said the rig contractor’s path to recovery is starting to take shape after the company posted fourth-quarter revenue that beat analysts’ estimates on Monday. The operator of ultra-deepwater rigs reported a 24 percent increase in revenue and saw higher utilization from last year. Offshore drillers largely missed out on the OPEC-led rally in oil prices, which pushed U.S. shale producers to record output last year. Crude CLc1 prices have risen about 12 percent since January 2017, but Diamond’s stock has dropped 17 percent in the same period. “Utilization is improving with positive implications for an eventual recovery in day rates,” Edwards told analysts on a post-earnings conference call. Edwards said there have been some improvements with major oil companies such as Exxon Mobil ( XOM.N ), Royal Dutch Shell ( RD
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- Diamond Offshore (DO) Secures Additional Backlog Worth $350M [Yahoo! Finance]Yahoo! Finance
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DO
Earnings
- 2/27/24 - Miss