Diamond Offshore Drilling (DO) Tops Q3 EPS by 10c, Revenues Beat

Diamond Offshore Drilling (NYSE: DO) reported Q3 EPS of ($0.26), $0.10 better than the analyst estimate of ($0.36). Revenue for the quarter came in at $286.32 million versus the consensus estimate of $280.91 million.

"We achieved another strong contracting quarter by securing approximately 30 months of additional backlog," said Marc Edwards, President and Chief Executive Officer. "The new fixtures were awarded for the Ocean GreatWhite in the North Sea, the Ocean Apex in Australia, and the Ocean Monarch in Myanmar."

Edwards added, "Diamond Offshore continues to take the necessary steps to position the Company for long-term success. As such, we entered into a new $950 million revolving credit facility maturing October 2023 and amended our existing credit facility. Combined, this provides $1.275 billion of availability and further enhances our liquidity runway."

For earnings history and earnings-related data on Diamond Offshore Drilling (DO) click here.

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