Diamond Offshore Drilling (NYSE: DO) is expected to report Q1 earnings on April 25. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Diamond Offshore Drilling's revenues will wither -7.6% and EPS will wither -14.3%.

The average estimate for revenue is $710.1 million. On the bottom line, the average EPS estimate is $1.14.

Revenue details
 Last quarter, Diamond Offshore Drilling notched revenue of $750.5 million. GAAP reported sales were 0.9% higher than the prior-year quarter's $734.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.41. GAAP EPS of $1.12 for Q4 were 17% lower than the prior-year quarter's $1.35 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 49.0%, 440 basis points better than the prior-year quarter. Operating margin was 34.5%, 480 basis points better than the prior-year quarter. Net margin was 21.0%, 470 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.99 billion. The average EPS estimate is $4.43.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,903 members out of 1,947 rating the stock outperform, and 44 members rating it underperform. Among 370 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 355 give Diamond Offshore Drilling a green thumbs-up, and 15 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diamond Offshore Drilling is hold, with an average price target of $73.87.

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