Diamond Offshore Drilling Earnings Preview: Analysts Expect Rising Revenue

Get ready for Diamond Offshore Drilling DO earnings! Don't be the last to know: The company announces its next round of earnings this Thursday, July 21, 2011.

Need to brush up a bit ahead of Thursday's announcement? We've got just the thing. Here's your essential guide to Diamond Offshore Drilling's second quarter earnings report.

Let's Do the Numbers:

Analysts are looking ahead to a positive EPS reading of $1.89 per share and revenues of $871.8 million. We'll know on Thursday whether Diamond Offshore Drilling has managed the estimated 69% increase in EPS and 106% rise in revenues on a year-over-year basis.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Quarter	Q1	Q4	Q3	Q2
EPS Estimate	$1.44	$1.45	$1.36	$1.75
EPS Actual	$1.80	$1.74	$1.43	$1.61

Stock Performance:

At last check, shares of Diamond Offshore Drilling were trading at $70.46. Since January 1st, shares of Diamond Offshore Drilling have given investors a return of 7.9%.

Average Stock Rating:

The average rating by analysts for Diamond Offshore Drilling is a Moderate Sell. Over the past three months this rating's strength has declined slightly.

Competitors:

Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Diamond Offshore Drilling's peers.

• Atwood Oceanics (ATW): Moderate Buy with a $1.08 recent quarter EPS
• Helmerich & Payne (HP): Hold with a $0.94 recent quarter EPS
• Noble (NE): Moderate Buy with a $0.16 recent quarter EPS
• Patterson-UTI Energy (PTEN): Moderate Buy with a $0.46 recent quarter EPS

Finally, a description of the main business areas of the company, in case you need a little refresher: Diamond Offshore Drilling, Inc. offers a range of services worldwide in various oil and gas drilling markets, including the deep water, harsh environment, conventional semisubmersible and jack-up markets.

Take Action:

That's your advanced look at Diamond Offshore Drilling's upcoming earnings numbers -- be ready to take quick action if the company's report contains any surprises. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.

• To see up-to-date news on Diamond Offshore Drilling, click here
• To see other trading ideas, click here
• To see other company earnings recaps, click here