Diamond Offshore Drilling Inc. (DO - Free Report) incurred second-quarter 2019 adjusted loss of 99 cents per share, wider than the Zacks Consensus Estimate of a loss of 89 cents and the year-ago loss of 33 cents as well.
Moreover, total revenues amounted to $217 million, down from $269 million in the year-ago quarter. The figure also missed the Zacks Consensus Estimate of $227 million.
These weaker results were primarily caused by reduced average day-rates and lower rig utilization.
Rigs recorded an average day-rate of $273,000, lower than $317,000 in the prior year. Moreover, rig utilization slipped to 51% from 53% a year earlier.
In the second quarter, revenues in the Contract Drilling segment dropped 21.8% year over year to approximately $207.3 million.
Transportadora earnings beat the Zacks Consensus Estimate in the last four quarters.
Halcon Resources earnings beat the Zacks Consensus Estimate in three of the previous four quarters.
World Fuel Services earnings beat the Zacks Consensus Estimate in the trailing four quarters.
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