ADVFN - Advanced Financial Network.
HOME» NYSE » D » DO Stock Price » DO Stock News

Diamond Offshore Drilling Share News

 Diamond Offshore Drilling, Inc. Stock Price
DO Stock Price
 Diamond Offshore Drilling, Inc. Stock Chart
DO Stock Chart
 Diamond Offshore Drilling, Inc. Stock News
DO Stock News
 Diamond Offshore Drilling, Inc. Company Information
DO Company Information
 Diamond Offshore Drilling, Inc. Stock Trades
DO Stock Trades

Diamond Offshore 4Q Net Down 22% On Softer Revenue, Utilization Rates

DOW JONES NEWSWIRES Diamond Offshore Drilling Inc.'s (DO) fourth-quarter earnings fell 22% as the oil driller reported weaker revenue and lower utilization rates for its mid-water floaters. The fourth quarter marks a reversal for the company, after it posted two preceding quarters with rising revenue and profits. The company had warned that scheduled maintenance would reduce the number of earning days for several rigs in the second half. Deep-water drilling was suspended for about 10 months in response to 2010's Deepwater Horizon rig explosion, which killed 11 workers and touched off the worst offshore oil spill in U.S. history. It wasn't until last February when U.S. regulators began approving deep-water drilling projects, which face heightened scrutiny. Houston-based Diamond Offshore, which is majority owned by Loews Corp. (L), reported a profit of $188.5 million, or $1.36 a share, down from $241.7 million, or $1.74 a share, a year earlier. Revenue fell 11% to $748.4 million. Analysts polled by Thomson Reuters had most recently forecast earnings of 99 cents a share on revenue of $739 million. Operating margin sank to 29.2% from 39.9%. The average day rate for ultra-deepwater floaters rose 4.4% from a year earlier, while the utilization rate stayed at 70% from a year earlier. For mid-water floaters, day rates dropped 4.9% and the utilization rate slipped to 60% from 80%. Shares closed Wednesday at $63.07 and were inactive premarket. The stock is down 2% over the past three months. --By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Diamond Offshore Drilling (DO)
DateTimeHeadline
03/28/201515:22:52SeaDrill: Plan Playing Out Provides Major Long-Term Catalyst
03/28/201512:15:02Why Atwood Oceanics Shares May Be Cheaper Than You Think
03/28/201510:43:54Transocean - An Opportunity Through The Oil Crash
03/26/201510:48:18Statement of Beneficial Ownership (sc 13d)
03/26/201500:31:12Diamond Offshore: It Might Not Be Over Yet For 4th Generation...
03/25/201507:49:42Short-Term Pain Will Be Long-Term Gain For Offshore Drillers
03/24/201504:01:21How To Make Relatively Risk-Free Money From Beaten Offshore Drillers
03/23/201518:08:29Finding Safe Dividends In The Unloved Contract Drilling Services...
03/19/201502:44:05Diamond Offshore Fleet Status As Of March 18, 2015 - Commentary
03/18/201516:57:23Statement of Changes in Beneficial Ownership (4)
03/18/201516:02:56Current Report Filing (8-k)
03/18/201512:00:033 Reasons Offshore Driller Stocks Could Collapse Further in 2015
03/18/201509:12:28Offshore Drillers Are Now At Risk From Contract Cancellations
03/15/201502:05:39Diamond Offshore Drilling: Trouble Breeds Opportunity
03/15/201501:38:38InsiderInsights.com Daily Round Up 3/13/15: KMI, DO, CSBR, WIW
03/13/201516:58:33Statement of Changes in Beneficial Ownership (4)
03/09/201517:00:35Automatic Shelf Registration Statement of Securities of Well-known...
03/07/201506:57:12Why I Would Buy Ensco Now
03/05/201503:45:00Oversupply Of Offshore Rigs: A Big-Picture Look
03/04/201517:42:37Statement of Changes in Beneficial Ownership (4)

Diamond Offshore Drilling and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad