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What to Expect When Atwood Oceanics (ATW) Posts Q3 Earnings

NEW YORK (TheStreet) -- Shares of Atwood Oceanics (ATW) are gaining 2.37% to $10.78 late Friday afternoon ahead of the company's 2016 fiscal third quarter results, due out before Monday's opening bell.

Analysts are projecting that earnings and revenue will drop year-over-year.

Wall Street is expecting the Houston-based offshore drilling contractor to post earnings of 90 cents per share on revenue of $232.74 million.

Last year, Atwood Oceanics earned $1.73 per diluted share on revenue of $330.56 million.

Additionally, oil prices...