Diamond Offshore reports Q4 adjusted EPS ($1.42), consensus 12c

Reports Q4 revenue $297.64M, consensus $291M. Reports $245M in total backlog added in Q4. Bernie Wolford, president and CEO, stated, “2023 was a transformational year for Diamond Offshore. We marked our one-year anniversary of re-listing on the New York Stock Exchange, made measurable improvements in our capital structure, secured $485 million dollars in new contract awards throughout the year, safely completed Special Periodical Surveys on five rigs, and completed eight contract start-ups, including four contract commencements in the fourth quarter, one in each of the regions in which we operate. In the first quarter of 2024, as previously announced, we secured a two-year contract extension for the Ocean BlackLion in the Gulf of Mexico at a leading edge dayrate and secured additional P&A work for the Ocean Patriot to fill a portion of the gap prior to commencement of a long-term P&A campaign in 2025.”