Demand Media has its earnings call tomorrow, and many people are no doubt eagerly awaiting what the company has to say. After recently going public, Google rolled out its Panda update in the U.S. which seemed to leave the company in the clear for the most part, but when they launched the update globally and made more tweaks in the U.S. things worked a bit differently.

Demand Media’s stock has not been doing so great since then. At the time of this writing, it’s currently at $15.75 per share. That’s about $5 less than just after the damage hit.

Conductor, which has the Searchlight SEO Platform, has released some data about Demand Media’s search visibility (eHow specifically) post-Panda.

Conductor Senior Research Analyst Nathan Safran says, “We compared search visibility for the 2,000 high-ranking keywords (84% started out pre-Panda above the fold on the SERPs) pre-Panda (Feb. 13th) to this past week (April 27).”

“When comparing e-how’s search visibility pre-Panda to post Panda nearly three-quarters (72%) of keywords dropped in rank.  Perhaps most tellingly, 42% of keywords dropped from prime visibility positions above the fold (position 4) while 17% dropped entirely off Page 1.”

It will be very interesting to see what Demand Media has to announce tomorrow. The company has been making moves to improve the quality (and perception) of its flagship content site eHow. Recently they launched a redesign with a new feedback feature that is designed to indicate to the company when certain pieces need more work.

In addition to that, they’ve been forming partnerships with celebrities to add authoritative voices to certain categories, and are hiring qualified professionals to write on business topics.