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Last $21.97 USD
Change Today -0.93 / -4.06%
Volume 963.7K
DO On Other Exchanges
Symbol
Exchange
Berlin
Mexico
As of 12:27 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

diamond offshore drilling (DO) Key Developments

Diamond Offshore Drilling, Inc. Declares Regular Quarterly Dividend, Payable on September 1, 2015; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Capital Expenditure Guanine for the Full Year of Fiscal 2015

Diamond Offshore Drilling, Inc. announced that it has declared a regular quarterly dividend of $0.125 per share, payable on September 1, 2015 to shareholders of record as of August 14, 2015. The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $634,032,000 compared to $692,244,000 a year ago. Operating income was $134,121,000 compared to $133,766,000 a year ago. Income before income tax benefit was $106,028,000 compared to $112,603,000 a year ago. Net income was $90,386,000 or $0.66 per share compared to $89,713,000 or $0.65 per share a year ago. Increase in contract drilling revenues from first quarter to second quarter can be partially attributed to the company's newbuild drillships, the Ocean BlackHornet and BlackRhino, both which began contracts in the Gulf of Mexico in the second quarter. Last quarter's loss was primarily driven by an impairment write-down and restructuring cost, which, when combined, negatively impacted after-tax earnings by $2.36 per share. For the six months period, the company reported total revenues of $1,254,088,000 compared to $1,401,668,000 a year ago. Operating loss was $135,409,000 compared to operating income of $320,043,000 a year ago. Loss before income tax benefit was $181,090,000 compared to income before income tax expense of $280,282,000 a year ago. Net loss was $165,323,000 or $1.21 per share compared to net income of $235,523,000 or $1.71 per share a year ago. The company provided earnings guidance for the third quarter, fourth quarter and capital expenditure guanine for the full year of fiscal 2015. For the third quarter, the company is now expecting depreciation expense to come in between $116 million and $120 million, just slightly lower than the company’s last quarters guidance. Interest expense expected to be between $25 million to $30 million. As for taxes, based on current projections, the company believes its tax rate will come in somewhere between 10% and 16%. For the fourth quarter, the company is now expecting depreciation expense to come in between $116 million and $120 million, just slightly lower than the company’s last quarters guidance. Interest expense expected to be between $25 million to $30 million. As for taxes, based on current projections, the company believes its tax rate will come in somewhere between 10% and 16%. The company is reiterating capital expenditure projections that it gave at its last quarterly update, estimating that to spend $290 million on maintenance capital expenditure in 2015 and $630 million in new build capital expenditure. Together, maintenance and new build capital expenditures are expected to total approximately $920 million in 2015.

Diamond Offshore Drilling, Inc. to Report Q2, 2015 Results on Aug 03, 2015

Diamond Offshore Drilling, Inc. announced that they will report Q2, 2015 results at 7:30 AM, Central Daylight on Aug 03, 2015

Diamond Offshore Drilling, Inc., Q2 2015 Earnings Call, Aug 03, 2015

Diamond Offshore Drilling, Inc., Q2 2015 Earnings Call, Aug 03, 2015

Diamond Offshore Drilling, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Announces Impairment of Assets for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015

Diamond Offshore Drilling, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $620,056,000 against $709,424,000 a year ago. Operating loss was $269,530,000 against operating profit of $186,277,000 a year ago. Loss before income tax was $287,118,000 against income before income tax of $167,679,000 a year ago. Net loss was $255,709,000 against net profit of $145,810,000 a year ago. Loss per share was $1.86 against EPS of $1.05 a year ago. For the quarter, the company reported impairment of assets of $358,528,000. The company expects depreciation, which will be affected by impairment charge, reduced maintenance capital spending and new rigs being delivered to come in between $118 million and $124 million in second quarter and stay in that range for the remaining quarters of the year. Interest expense guidance remains the same at $25 million to $30 million per quarter for the final three quarters of 2015. As for taxes, based on current projections, the company believe tax rate will come in somewhere between 11% and 16% in second quarter and will continue there for the rest of the year. The company is reducing maintenance CapEx projections from $340 million down to current estimate of $290 million. New build CapEx for 2015 is expected to be $630 million, which includes the final 70% shipyard payment for fourth new build drillship, the Ocean Black Lion; oversight cost on the Ocean Great White; final cost on the Black Hornet and Black Rhino drill ships, beginning term contracts in the Gulf of Mexico here in the second quarter; and finally, the completion cost for the service life extension project on the Ocean Confidence. Together, maintenance and new build capital expenditures are expected to total approximately $920 million in 2015.

Diamond Offshore Drilling, Inc. Declares Regular Quarterly Dividend, Payable on June 1, 2015

Diamond Offshore Drilling, Inc. announced that it has declared a regular quarterly dividend of $0.125 per share, payable on June 1, 2015 to shareholders of record as of May 15, 2015.

 

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Price/Sales 1.2x
Price/Book 0.7x
Price/Cash Flow 6.3x
TEV/Sales 0.1x
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