Diamond Offshore Drilling, Inc.

Report azionario NYSE:DO

Capitalizzazione di mercato: US$1.5b

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Diamond Offshore Drilling Performance degli utili passati

Criteri Il passato verificati 0/6

Diamond Offshore Drilling ha registrato una crescita degli utili a un tasso medio annuo di 26.4%, mentre il settore Energy Services ha registrato utili in crescita a un tasso medio annuo di 44.6%. I ricavi sono stati in crescita a un tasso medio annuo di 1.7%.

Informazioni chiave

26.43%

Tasso di crescita degli utili

22.77%

Tasso di crescita dell'EPS

Energy Services Crescita del settore23.71%
Tasso di crescita dei ricavi1.72%
Rendimento del capitale proprio-40.18%
Margine netto-26.88%
Ultimo aggiornamento sugli utili30 Jun 2024

Aggiornamenti sulle prestazioni recenti

Recent updates

Seeking Alpha • Aug 19

Diamond Offshore Drilling: In-Line Quarter With Pending Acquisition By Noble Corporation In Focus

Summary Diamond Offshore Drilling reported second quarter results, mostly in line with expectations. The company generated $8 million of free cash flow and finished the quarter with $166 million in cash and cash equivalents and $550 million in debt. Backlog of $2.03 billion reached a new multi-year high as the company managed to secure additional work for two of its high-specification drillships. Shareholders should vote for the proposed acquisition by Noble Corporation as the combined company will benefit from increased scale, reduced competition and material cost synergies. Based on my $55 price target for Noble Corporation's stock, the fair value of Diamond Offshore Drilling's shares would calculate to $18.40, thus providing for more than 25% upside from current levels. Read the full article on Seeking Alpha
Articolo di analisi • May 21

Diamond Offshore Drilling, Inc.'s (NYSE:DO) Intrinsic Value Is Potentially 60% Above Its Share Price

Key Insights Using the 2 Stage Free Cash Flow to Equity, Diamond Offshore Drilling fair value estimate is US$24.34...
Seeking Alpha • Apr 09

Diamond Offshore Drilling: Investors Should Look Beyond Recent Rig Incident Impact - Buy

Summary Diamond Offshore Drilling reported better-than-expected Q4/2023 results and guided Q1 and FY2024 roughly in line with muted expectations. However, the recent Ocean GreatWhite incident is likely to result in the company falling short of its projections. On a more positive note, the company managed to secure long-term contract extensions for two drillships in the U.S. Gulf of Mexico at decent terms. Investors should look beyond mediocre near-term prospects and rather focus on the earnings inflection widely expected for next year and beyond. While I have lowered my estimates for this year, I have increased my Adjusted EBITDA projections for 2025 and 2026. Reiterating "Buy" and increasing the price target from $18 to $19. Read the full article on Seeking Alpha
Articolo di analisi • Mar 31

Unpleasant Surprises Could Be In Store For Diamond Offshore Drilling, Inc.'s (NYSE:DO) Shares

There wouldn't be many who think Diamond Offshore Drilling, Inc.'s ( NYSE:DO ) price-to-sales (or "P/S") ratio of 1.4x...
Articolo di analisi • Feb 29

Is Diamond Offshore Drilling (NYSE:DO) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Seeking Alpha • Feb 17

Diamond Offshore Drilling: Eagerly Awaiting Earnings And Operational Updates

Summary Diamond Offshore Drilling has experienced a consistent downtrend in the stock price despite strong operational results and new contract awards. DO anticipates a strong and lasting upcycle in offshore drilling, with growing rig demand and increased investment in offshore upstream projects. Analysts are bullish on DO due to the expectation of strong earnings growth, but the quant rating indicates a sell. The valuation is challenging due to past negative earnings, but new contracts with higher rates are expected to improve profitability. Read the full article on Seeking Alpha
Articolo di analisi • Jan 24

A Look At The Intrinsic Value Of Diamond Offshore Drilling, Inc. (NYSE:DO)

Key Insights Diamond Offshore Drilling's estimated fair value is US$15.29 based on 2 Stage Free Cash Flow to Equity...
Articolo di analisi • Dec 20

Investor Optimism Abounds Diamond Offshore Drilling, Inc. (NYSE:DO) But Growth Is Lacking

Diamond Offshore Drilling, Inc.'s ( NYSE:DO ) price-to-sales (or "P/S") ratio of 1.5x may not look like an appealing...
Seeking Alpha • Nov 28

Diamond Offshore Drilling - Significant Progress Expected In 2024 - Buy

Summary Diamond Offshore Drilling reported better-than-expected third quarter results with revenues and adjusted EBITDA coming in well above expectations. As a result, the company raised full-year guidance. While the company intends to return capital to shareholders, it will take more time until free cash generation becomes sufficient for the initiation of a dividend and/or a share repurchase program. 2024 should benefit from a much lower number of shipyard days and a resulting decrease in off hire time and capital expenditures. While offshore oil and gas service stocks have been volatile as of late, I consider the recent weakness an opportunity to initiate positions. At current levels, Diamond Offshore Drilling's stock provides for almost 50% upside based on my adjusted EBITDA estimate for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Nov 18

Diamond Offshore: Recontracting Provides Upside Potential Despite Risks

Summary Diamond Offshore's shares have risen 27% in the past year due to a recovery in demand for offshore rigs and a cleaned-up balance sheet after bankruptcy. The company reported a sequential decline in revenue and adjusted EBITDA in its latest quarter due to the completion of a rig contract. Diamond Offshore's short backlog exposes it to both upside and downside risks in the recontracting environment, but the current market conditions suggest potential upside for the company. Read the full article on Seeking Alpha
Articolo di analisi • Oct 08

Are Investors Undervaluing Diamond Offshore Drilling, Inc. (NYSE:DO) By 36%?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Diamond Offshore Drilling fair value estimate is US$21.08...
Seeking Alpha • Sep 13

Diamond Offshore Snags Comprehensive Debt Refinancing At Favorable Terms - Buy

Summary Diamond Offshore Drilling, Inc. successfully places $550 million in 8.50% senior secured notes due 2030. Proceeds will be used to repay all of the company's indebtedness and enhance liquidity. However, with the existing revolving credit facility remaining in place, Diamond Offshore will likely remain precluded from returning capital to shareholders for the time being. Going forward, the company will benefit from its vastly improved financial position, including almost $500 million in available liquidity. Given ongoing, strong industry conditions, I would consider using any major weakness to initiate or add to existing positions. Read the full article on Seeking Alpha
Seeking Alpha • Aug 21

Diamond Offshore Drilling: Second Half Outlook Disappoints, Buy On Weakness

Summary Adjusted for one-time items, Diamond Offshore Drilling reported Q2/2023 results largely in line with expectations. However, on the conference call, management lowered second-half and full-year profitability expectations materially. A host of minor items is anticipated to culminate in a very weak third-quarter performance, which might result in some selling pressure following the Q3 report in November. Considering the disappointing guidance for the remainder of the year, I would advise against chasing the shares near current multi-year highs. However, given ongoing, strong industry conditions, I would consider using any major weakness to initiate or add to existing positions. Read the full article on Seeking Alpha
Seeking Alpha • Aug 05

Diamond Offshore Drilling: Priced For Growth And Perfection

Summary Diamond Offshore Drilling Inc. has promising earnings projections, with a projected p/e of just 11 in 2024. Oil and natural gas are expected to remain significant players in the global energy mix, despite the rise of renewables. DO is well-positioned to benefit from the high demand for oil, with strong earnings potential and contracts worth $212 million. Read the full article on Seeking Alpha
Articolo di analisi • Apr 17

Diamond Offshore Drilling, Inc.'s (NYSE:DO) 27% Jump Shows Its Popularity With Investors

Diamond Offshore Drilling, Inc. ( NYSE:DO ) shareholders would be excited to see that the share price has had a great...
Seeking Alpha • Feb 24

Diamond Offshore Drilling Q4 2022 Earnings Preview

Diamond Offshore Drilling (NYSE:DO) is scheduled to announce Q4 earnings results on Monday, February 27th, after market close. The consensus EPS Estimate is -$0.26 and the consensus Revenue Estimate is $211.2M.
Seeking Alpha • Nov 08

Diamond Offshore Drilling GAAP EPS of $0.05 beats by $0.36, revenue of $226.07M beats by $44.68M

Diamond Offshore Drilling press release (NYSE:DO): Q3 GAAP EPS of $0.05 beats by $0.36. Revenue of $226.07M (+9.9% Q/Q) beats by $44.68M. As of September 30, 2022, Diamond Offshore had total liquidity of $296M, comprised of $23M of unrestricted cash and $273M of available capacity on its revolving credit facility and delayed draw First Lien Notes. Remarking on the outlook for the offshore drilling market, Wolford commented, "Market fundamentals continue to improve in our industry, driving improved dayrates and growing visibility of future demand."
Seeking Alpha • Sep 09

Diamond Offshore: Aiming For A Strong 2023

Summary Diamond Offshore Drilling recently emerged from Chapter 11 bankruptcy and relisted on the NYSE. The company operates in a bullish market and showed a solid backlog addition in the MRQ, totaling over $1.5 billion. The company is currently churning loss and is expected to report an annual loss, but is likely to turn profitable in mid-2023 as its newer contracts kick in. I am bullish on the stock because the market is pricing the stock too conservatively, which is a great time for potential investors to open a position into the stock. Investment Thesis Diamond Offshore Drilling (DO) is a Texas-based global drilling services contractor for the energy industry, with a fleet of 14 floater rigs, including 6 drillships and 8 semisubmersibles, spread across the globe. It was delisted in 2020 pertaining to a Chapter 11 bankruptcy, resulting in its creditors becoming its shareholders and providing the company with over $625 million of newly available capital. The company was recently relisted on the NYSE in March and has since been trading well, with an average daily trading volume of over 1.2 million shares. Since then, it has outperformed the market by double digits. DO data by YCharts This upsurge is likely fueled by favorable macroeconomic factors following the Russia-Ukraine conflict, which has caused an energy crisis around the globe, pushing the oil market fundamentals upward. Europe is severely squeezed for energy resources and is actively looking to be independent of Russia, which naturally turns it toward other western countries, especially the United States. McKinsey & Company This demand vacuum has created a significant incentive for US-based energy companies, especially in the oil and gas sector, to expand their operations and increase production. The inflated oil prices show no signs of imminent reversal and create a highly lucrative opportunity for these companies, uniquely poised to take advantage of the energy market boom. WTI Crude Oil Spot Price data by YCharts Investing in an upstream company like Diamond Offshore, concurrent to the inflated CapEx budgets of oil and gas companies in light of this bullish market, reconciles investors with the world's energy giants. A Bullish Market The recent upsurge in the energy market in response to aggressive global industrialization and urbanization has propelled investors into increased oil & gas sector investments. The high demand growth in transportation, power production, manufacturing industry, infrastructures, etc., is unsustainable solely on renewables and alternative energy sources and will most certainly need to be supported through the fossil fuel industry. EIA Along with shareholder returns, these companies' historically rising cash flows have played an integral role in ramping up the CapEx spending. Following the same pattern, the EIA estimates the net income for global oil & gas producers to double in 2022 due to rising fuel prices, resulting in an unprecedented net income of about $4 trillion. EIA Subsequently, investments in upstream onshore and offshore oil and gas endeavors are expected to rise, in line with the post-pandemic trend and concurrent with the rising demand. EIA The largest increase in these investments in the western world is expected to come from major US companies that plan to increase their spending by over 30% in 2022. Similarly, Middle Eastern national oil companies' CapEx spending has now exceeded the pre-pandemic levels, with Saudi Aramco and ADNOC announcing plans to increase their investments by about 15% to 30% in 2022. EIA This is a great opportunity for upstream companies like Diamond Offshore, as the demand for drilling services is seeing significant growth, with the total rig count in the US exhibiting an almost 53% YoY growth from 497 rigs in 2021 to 760 rigs in September 2022. This increase is almost exclusively driven by the increase in crude oil rigs, which increased 51.2% YoY from 394 to 596. Baker Hughes This bullish sentiment is evident from Diamond Offshore's increasing backlog of over $1.5 billion, including the $610 million in new contracts since July 1st and about 75% of its 2023 marketed capacity already contracted. Profitability Expected In Mid-2023 The company's recent emergence from a Chapter 11 bankruptcy makes it prone to investor doubts, with the market pricing in significant execution risks into its share price. If Diamond Offshore successfully achieves its targets, the market will likely start pricing in the upside potential, realizing material price returns. The company's 2022 guidance has been revised with lower profitability than expected because it has undertaken reactivation and contract preparation activities associated with one of its rigs earlier than anticipated. The activities were planned for 2023 but have been moved up to Q4 2022, adding about $35 to $40 million in costs for 2022. This has inflated the estimated CapEx from $57 million at the midpoint to $77 million and negatively affected the EBITDA guidance from $59 million at the midpoint to $29 million and the free cash flow guidance from negative $75 million at the midpoint to negative $110 million. The revision is primarily because of the mistiming and will result in significant future benefits, as the contract in question will generate about $80 million in revenue, mostly recognizable in 2023. Even though the current year is expected to be loss-making, the company's recently acquired contracts are averaged at higher daily rates. With most of its 2023 capacity contracted out, the company is expected to be profitable from Q2 2023, when its newer contracts start materializing. The company's current revenue under the previous contracts is recorded with average daily revenue of $227,800 per day in the MRQ, up 1.3%. However, its new contracts are substantially lucrative, with daily rates of around $400,000. In addition to higher revenues, the new contracts are also more profitable in terms of the estimated average EBITDA margin, with an about 10% increase from its current contracts in absolute terms. If we exclude the 2 managed rigs, the aggregate percentage point doubles to 20%.
Seeking Alpha • Aug 10

Diamond Offshore Drilling GAAP EPS of -$0.22, revenue of $205.7M

Diamond Offshore Drilling press release (NYSE:DO): Q2 GAAP EPS of -$0.22. Revenue of $205.7M (+10.4% Q/Q). As of June 30, 2022, Diamond Offshore had total liquidity of $339M, comprised of $43M of unrestricted cash and $296M of available capacity on its revolving credit facility and delayed draw First Lien Notes. Commenting on the outlook for the offshore drilling market, Wolford concluded, "The market continues to improve, as reflected by our recent fixtures for both semisubmersibles and drillships across multiple regions. Visible demand, energy security concerns, and tight supply could lead to sustainable demand for our drilling services for years to come."
Seeking Alpha • Jun 12

Diamond Offshore: Buy The Last Domino In The Energy Supercycle

Diamond Offshore Drilling is a pre-eminent player in the energy offshore drilling sub-sector. The company restructured via a Chapter 11 bankruptcy in 2020 and has emerged with a much improved balance sheet. As the Russia/Ukraine conflict flared up we saw a historic shift away from Russian oil & gas which has acted as a major positive catalyst for offshore drillers. With a surge in demand, particularly in the wake of Russia’s invasion of Ukraine, day-rates are increasing and operators are reactivating cold-stacked rigs in order to accommodate long-term demand. Diamond Offshore Drilling is a macro play with a restructured balance sheet and one of the last dominoes to fall as the macro energy super-cycle sweeps all related sub-sectors.

Ripartizione dei ricavi e delle spese

Come Diamond Offshore Drilling guadagna e spende denaro. In base agli ultimi utili dichiarati, su base LTM.

Storico di utili e ricavi

NYSE:DO Ricavi, spese e utili (USD Millions )
DataRicaviUtiliSpese G+ASpese di R&S
30 Jun 241,004-270780
31 Mar 241,028-40710
31 Dec 23984-45720
30 Sep 23912491290
30 Jun 23877199700
31 Mar 23789-62730
31 Dec 22725-103700
30 Sep 22701-176770
30 Jun 22694-1861230
31 Mar 22646-1,8121220
31 Dec 21619-2,139690
30 Sep 21591-2,1641890
30 Jun 21538-2,2571390
31 Mar 21597-7551360
31 Dec 20693-1,255570
30 Sep 20794-1,180610
30 Jun 20907-1,177670
31 Mar 20926-1,146670
31 Dec 19935-357680
30 Sep 19902-362670
30 Jun 19941-318640
31 Mar 19999-273670
31 Dec 181,060-180850
30 Sep 181,172-133730
30 Jun 181,249-71750
31 Mar 181,37614760
31 Dec 171,45118750
30 Sep 171,498166690
30 Jun 171,480169660
31 Mar 171,445-436650
31 Dec 161,525-373630
30 Sep 161,685-734640
30 Jun 161,944-611660
31 Mar 162,20469640
31 Dec 152,360-274660
30 Sep 152,49070710
30 Jun 152,619-14730
31 Mar 152,651-15760
31 Dec 142,737387820
30 Sep 142,771381780
30 Jun 142,734423970
31 Mar 142,829519930
31 Dec 132,844549870
30 Sep 132,876612860

Guadagni di qualità: DO al momento non è redditizia.

Margine di profitto in crescita: DO al momento non è redditizia.

Flusso di cassa libero e analisi degli utili

Analisi della crescita degli utili nel passato

Andamento degli utili: DO non è redditizia, ma ha ridotto le perdite negli ultimi 5 anni a un tasso pari a 26.4% all'anno.

Accelerare la crescita: Impossibile confrontare la crescita degli utili di DO nell'ultimo anno con la sua media quinquennale poiché al momento non è redditizia

Guadagni vs Settore: DO non è redditizia, il che rende difficile confrontare la crescita dei suoi utili dell'anno passato con il settore Energy Services ( -26.2% ).

Rendimento del capitale proprio

ROE elevato: DO ha un Return on Equity negativo ( -40.18% ), in quanto al momento non è redditizio.

Rendimento delle attività

Rendimento del capitale investito

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Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2024/09/03 22:33
Prezzo dell'azione a fine giornata2024/09/03 00:00
Utili2024/06/30
Utili annuali2023/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; abbiamo anche guide su come utilizzare i nostri report e tutorial su Youtube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

Diamond Offshore Drilling, Inc. è coperta da 38 analisti. 5 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
James WestBarclays
Scott GruberBernstein
Alan LawsBMO Capital Markets Equity Research