On Monday, November 5, 2018, offshore drilling contractor Diamond Offshore (DO) announced its third quarter 2018 earnings results. The initial headline numbers that accompanied these results were mixed as the company managed to beat the analyst consensus revenue figure but missed on bottom-line earnings. A deeper look at the earnings report though shows that there is certainly a lot to like here as Diamond Offshore has benefited from some of the same industry trends that have been benefiting its other offshore peers.
As my long-time readers are no doubt well aware, it