Diamond Offshore Drilling, Inc. (NYSE:DO) reported fourth quarter EPS of $2.11 on revenue of $903.2 million. Analysts had been expecting EPS of $2.34 on revenue of $912.42 million. For the full year, Diamond earned EPS of $9.43 on revenue of $3.5 billion, missing estimates of EPS of $9.71 and revenue of $3.55 billion.
Dayrates and utilization are either essentially flat or up from a year ago and up sequentially. The company gave no 2009 guidance. Diamond opened lower this morning and is down about 3%. It’s also dragging Transocean Ltd (NYSE:RIG) down with it. Transocean is off about 1.5% on no news.
Paul Ausick
February 5, 2009
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
