Categories Earnings, Energy

Diamond Offshore Drilling (DO): Q3 2019 Earnings Snapshot

Earnings Update by AlphaStreet

— Diamond Offshore Drilling Inc. (NYSE: DO) reported Q3 2019 loss of $0.67 per share, vs. a loss of $0.68 expected.

— Revenues fell 11% to $254 million, vs. $242.3 million expected.

— As of October 1, total contracted backlog was $1.8 billion.

— Average day rate was $253 while utilization was 65%.

— Operational efficiency was 96.6%.

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