• February 26, 2020

Diamond Offshore Drilling: 4Q Earnings Snapshot - Odessa American: State

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Diamond Offshore Drilling: 4Q Earnings Snapshot

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Posted: Monday, February 10, 2020 5:17 am | Updated: 5:47 am, Mon Feb 10, 2020.

HOUSTON (AP) — Diamond Offshore Drilling Inc. (DO) on Monday reported a loss of $74.8 million in its fourth quarter.

The Houston-based company said it had a loss of 54 cents per share. Losses, adjusted for non-recurring costs, came to 45 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 66 cents per share.

The offshore oil and gas drilling contractor posted revenue of $276.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $249.1 million.

For the year, the company reported that its loss widened to $357.2 million, or $2.60 per share. Revenue was reported as $980.6 million.

The company's shares closed at $4.39. A year ago, they were trading at $9.97.

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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

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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