DIAMOND OFFSHORE DRILLING, INC. [DODRW] has reported a net loss of $1,961,989,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $169.4 million
Based in HOUSTON, Texas, DIAMOND OFFSHORE DRILLING, INC. operates in the MINING sector.
Consolidated Statements of Operations - USD ($) shares in Thousands
In the 4 months ended April 23, 2021, the total revenues were $169.4 million, which increased to $556.1 million in the 8 months ended December 31, 2021, and further rose to $1,056.2 million in the 12 months ended December 31, 2023, compared to $841.3 million in the same period the previous year.
Operating expenses for the same periods were $496.4 million, $707.2 million, $1,005.1 million, and $904.7 million, respectively. Operating income (loss) fluctuated from a loss of $327.1 million in the 4 months ended April 23, 2021, to a loss of $151.2 million in the 8 months ended December 31, 2021, and eventually turned into an income of $51.1 million in the 12 months ended December 31, 2023, after a loss of $63.4 million in the prior year.
In terms of other income (expense), variations were witnessed across the periods. For instance, interest income stood at $30,000, $3,000, $1.6 million, and $18,000, while interest expense was -$34.8 million, -$26.2 million, -$53.4 million, and -$40.4 million for the respective time frames.
The net loss was reported at $1.96 billion, $177.3 million, $44.7 million, and $103.2 million for the mentioned periods. Basic and diluted earnings per share followed the same pattern, showcasing a loss per share of $14.21, $1.77, $0.44, and $1.03, and having a weighted average number of shares outstanding around 138,054, 100,071, 101,842, and 100,561 for the same periods.
Under the Contract Drilling segment, total revenues were $153.4 million, $465.3 million, $984.0 million, and $724.7 million, with operating expenses of $181.6 million, $364.5 million, $757.2 million, and $621.0 million for the corresponding periods.
Additionally, the Reimbursable Expenses segment saw total revenues of $16.0 million, $90.7 million, $72.2 million, and $116.5 million, and operating expenses of $15.5 million, $89.3 million, $68.8 million, and $115.0 million for the respective periods.
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