Diamond Offshore Drilling Q2 2024 Adj. EPS $0.12 Beats $0.09 Estimate, Sales $252.886M Miss $257.150M Estimate
Portfolio Pulse from Benzinga Newsdesk
Diamond Offshore Drilling (NYSE:DO) reported Q2 2024 adjusted EPS of $0.12, beating the $0.09 estimate, but sales of $252.886M missed the $257.150M estimate. EPS increased by 400% year-over-year, while sales decreased by 10.18%.
August 06, 2024 | 9:53 pm
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Diamond Offshore Drilling reported Q2 2024 adjusted EPS of $0.12, beating the $0.09 estimate, but sales of $252.886M missed the $257.150M estimate. EPS increased by 400% year-over-year, while sales decreased by 10.18%.
The significant EPS beat and substantial year-over-year improvement in earnings are positive indicators for the stock. However, the sales miss and year-over-year decline in revenue may temper the enthusiasm. Overall, the positive earnings surprise is likely to have a more substantial short-term impact, leading to a likely increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100