Diamond Offshore Drilling (DO) Tops Q1 EPS by 6c, Revenues Miss

Diamond Offshore Drilling (NYSE: DO) reported Q1 EPS of ($0.53), $0.06 better than the analyst estimate of ($0.59). Revenue for the quarter came in at $233.54 million versus the consensus estimate of $234.47 million.

"We had a solid start to the year with fleet-wide operational efficiency of 97% and zero recordable incidents for the first quarter," said Marc Edwards, President and Chief Executive Officer.

"We are pleased to announce that we secured over four years of additional work across two of our drillships, the Ocean BlackRhino and Ocean BlackHawk, with Woodside in Senegal. These new contracts are a testament to our differentiated strategy of focusing on innovation to drive efficiency in offshore drilling."

Edwards continued, "The Ocean GreatWhite commenced the drilling of its first well during the quarter and we recently secured a new contract for the rig with a leading U.K. operator, which will directly follow the current Siccar Point Energy contract. We were also able to secure a new award for the Ocean Apex with BP in Australia, which will commence following the Woodside campaign."

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

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