Diamond Offshore Drilling Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Diamond Offshore Drilling, Inc. (NYSE:DO) will unveil its latest earnings on Tuesday, February 5, 2013. Diamond Offshore Drilling offers a range of services worldwide in various oil and gas drilling markets, including the deep water, harsh environment, conventional semisubmersible, and jack-up markets.

Diamond Offshore Drilling, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of $1.10 per share, a decline of 19.1% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.14. Between one and three months ago, the average estimate moved down. It has risen from $1.09 during the last month. Analysts are projecting profit to rise by 32.5% compared to last year’s $4.67.

Past Earnings Performance: Last quarter, the company beat estimates by 27 cents, coming in at net income of $1.28 a share versus the estimate of profit of $1.01 a share. It marked the fourth straight quarter of beating estimates.

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A Look Back: In the third quarter, profit fell 30.6% to $178.2 million ($1.28 a share) from $256.9 million ($1.85 a share) the year earlier, but exceeded analyst expectations. Revenue fell 17% to $729.1 million from $878.2 million.