DO - Diamond Offshore: Q3 In Depth
We have already discussed Diamond Offshore's (DO) recent fleet status report which contained major contract news, and now it's high time to turn out attention to the company's financial results and comments provided during the quarterly call with analysts.
Diamond Offshore reported revenues of $286 million and GAAP loss of $51 million or a loss of $0.37 per share. As in the case of other drillers, the non-cash depreciation expense is the major source of the company's accounting loss. On the cash front, the situation looks better, and Diamond Offshore generated $189 million