Diamond Offshore Q1 net income $11.6M ($0.11/diluted); backlog $1.9B; secured $731M in contracts YTD

DIAMOND OFFSHORE DRILLING, INC.

2024-Q1 EPS reported $0.11 revenue$274,610,000

Q1 revenue $274.6M vs $297.6M in Q4 2023; adjusted net income $25.4M ($0.25/diluted) vs loss in prior quarter.
Year-to-date contract awards total $731M, including $713M in Q1 for two-year extensions for Ocean BlackLion and BlackHornet.
Post-quarter, signed ~$18M one-well contract for Ocean BlackRhino; prepaid before commencement.
Ocean GreatWhite repairs on schedule; expected back on location in first half of June.
Secured marketing rights for three 7th-gen drillships (West Dorado, West Draco, Tidal Action) in Brazil, West Africa, and US GOM.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

DIAMOND OFFSHORE DRILLING, INC. reported first quarter of 2024 results: revenue $274,610, net income $11,612, EPS 0.11.

Period: first quarter of 2024
Revenue: $274,610
Net income: $11,612
EPS: 0.11
Result: reported results

Exact text from the filing

reported the following results for the first quarter of 2024: Three Months Ended Thousands of dollars, except per share data March 31, 2024 December 31, 2023 Total revenues $ 274,610 $ 297,637 Operating income 21,813 44,915 Net income (loss) 11,612 (145,702 ) Income (loss) per diluted share 0.11 (1.42 ) Adjusted operating income 31,813 44,915 Adjusted EBITDA

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Source: SEC EDGAR

accession 0001193125-24-133714

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