Transocean

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Transocean reports robust Q4 earnings, eyes growth in global markets

Transocean's strong financial performance, strategic investments, and global contract wins position it well for growth despite cost pressures and operational constraints. The company's focus on simplifying its balance sheet and leveraging advanced drillship capabilities underscore its commitment to long-term success in the offshore drilling industry.

Transocean excels in Q1 2023, eyes growth in harsh environments

Transocean's Q1 performance reflects strong financials and market sustainability, supported by a robust backlog and strategic contract wins. While facing challenges in Norway and industry reactivation pace, the company is well-positioned to capitalize on opportunities in high-demand regions and innovative asset utilization.

Transocean reports solid Q2 performance amidst market opportunities

Transocean's Q2 2023 performance showed strong backlog growth and financial resilience.
The company's focus on top assets and long-term contracts positions it well for market improvements.
Challenges include cost management and potential regulatory impacts.
Opportunities lie in increasing demand, market up cycle, and strategic fleet decisions.

Transocean reports robust Q3 results, eyes revenue growth in 2024

Transocean's Q3 performance reflects strength in backlog growth and contract wins, despite challenges in contract lead times and market uncertainties. The company aims for revenue growth in 2024, focusing on long-term contracts and operational efficiency.

Transocean reports robust Q4 earnings and optimistic outlook for growth

Transocean's Q4 performance reflects financial resilience and operational excellence, supported by a strong backlog and strategic financial decisions. While challenges exist in a competitive market, the company's focus on efficiency and long-term contracts presents promising opportunities for sustained success.

Transocean reports solid Q1 performance and eyes growth opportunities

Transocean's Q1 performance showcases resilience amid operational challenges, with a focus on safety, efficiency, and long-term growth. The company's strategic initiatives and positive market outlook position it well to capitalize on increasing demand for deepwater rigs and drive future profitability.

Transocean reports solid Q2 performance, eyes offshore market growth

Transocean's Q2 2024 performance reflects operational stability and strategic contract wins, despite facing challenges in managing costs and profitability.
The company's focus on maximizing shareholder value and reducing debt aligns with efforts to improve financial health and balance sheet strength.
With opportunities in offshore drilling market growth and regional expansions, Transocean remains positioned for long-term success and revenue growth.

Transocean reports solid Q3 performance and bullish outlook for deepwater

Transocean delivered strong financial results in Q3 2024 and has a robust contracting outlook for the future.
Despite challenges related to blowout preventers, the company's focus on optimization and confidence in market demand are key strengths.
Opportunities for growth lie in the company's solidly booked fleet and strategic positioning in the deepwater drilling market.

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Transocean missed analyst expectations in Q2 2024 earnings, leading to a share price decline of 4.86%. The company's revenue, operating income, and adjusted EBITDA improved year-over-year, but net losses persisted. RIG should be able to generate positive levered cash flow going forward now that the Deepwater Aquila is completed and working.

Transocean: Don't Sweat The Earnings Miss, There Are Clear Signs Of Strength Here

RIG stock surged by 10% after fleet status report, announcing $531 million contract with record high dayrates. Transocean reported a net loss but increasing revenues, positive cash flow, and high dayrates in fleet status report. Management is optimistic about the future, expects the fleet to be fully booked into 2026, improving balance sheet and liquidity projections.

Transocean Records Record High Dayrates, But More Is Yet To Come

Transocean Ltd. (NYSE:RIG ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Alison Johnson - Director, IR Jeremy Thigpen - CEO Keelan Adamson - President and COO Thad Vayda - EVP and CFO Roddie Mackenzie - EVP and CCO Conference Call Participants Eddie Kim - Barclays Greg Lewis - BTIG David Smith - Pickering Energy Partners Kurt Hallead - Benchmark Doug Becker - Capital One Josh Jayne - Daniel Energy Partners Operator Good day, everyone, and welcome to today's Second Quarter 2024 Transocean's Earnings Call.

Transocean Ltd. (RIG) Q2 2024 Earnings Call Transcript

Transocean (RIG) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.15 per share a year ago.

Transocean (RIG) Reports Q2 Loss, Lags Revenue Estimates

STEINHAUSEN, Switzerland, July 31, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $123 million, $0.15 per diluted share, for the three months ended June 30, 2024. Second quarter results included certain favorable and unfavorable items, that were offsetting (see attached schedule).

Transocean Ltd. Reports Second Quarter 2024 Results

STEINHAUSEN, Switzerland, July 31, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $531 million in backlog, excluding additional services and a mobilization fee.

Transocean Ltd. Announces $531 Million Ultra-Deepwater Drillship Contract

Transocean (RIG) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Transocean (RIG) Surges 10.7%: Is This an Indication of Further Gains?

Transocean (RIG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Transocean (RIG) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

Transocean Ltd. (RIG, Financial) released its first-quarter 2024 results and its latest fleet status report in April.

Transocean Is Struggling With Free Cash Flow

STEINHAUSEN, Switzerland, July 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the second quarter 2024 on Wednesday, July 31, 2024.

Transocean Ltd. Announces Second Quarter 2024 Earnings Release Date

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Transocean's (RIG) newbuild ultra-deepwater drillship begins its first assignment for Petrobras, offshore Brazil, at a day rate of $448,000.

Transocean's (RIG) Deepwater Aquila Begins Work Offshore Brazil

Transocean (RIG) secures a $188 million contract extension with Hess for Deepwater Asgard drillship in the U.S. Gulf of Mexico, reinforcing its offshore drilling leadership in harsh environments.

Transocean's (RIG) Asgard Secures $188M Deal Extension

Transocean (RIG) agrees to sell its 5th-generation semisub Deepwater Nautilus and associated assets for $53.5 million, as part of the company's strategy to dispose of non-strategic assets.

Transocean (RIG) Sells Deepwater Nautilus Floater for $53.5M

STEINHAUSEN, Switzerland, June 26, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 365-day contract extension for the Deepwater Asgard with an independent operator in the U.S. Gulf of Mexico. The program is expected to commence in direct continuation of the rig's current program and is estimated to contribute approximately $188 million in backlog, including additional services.

Transocean Ltd. Announces $188 Million Ultra-Deepwater Drillship Contract Extension

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Transocean's (RIG) contract extensions for its semisubmersible rigs reinforce its confidence in the high-specification harsh environment market's positive outlook.

Transocean (RIG) Secures Major Contract Extensions Worth $161M

STEINHAUSEN, Switzerland, June 04, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced contract fixtures for three of its harsh environment semisubmersibles. Together, the fixtures represent approximately $161 million in firm contract backlog.

Transocean Ltd. Announces $161 Million in Contract Extensions and Exercised Options for Harsh Environment Semisubmersibles

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Transocean (RIG) reported earnings 30 days ago. What's next for the stock?

Why Is Transocean (RIG) Up 17.1% Since Last Earnings Report?

Transocean's quarterly earnings announcement caused the stock to drop by over 10%, but the market's reaction was exaggerated. The company's results have improved compared to previous quarters, with increased demand for harsh-environment floaters. Transocean's management is optimistic about improving day rates, longer contracts, and potential reactivation of cold-stacked rigs.

Transocean Stock - The Good News Is Ignored

Transocean (RIG) anticipates annual O&M expenses to be in the range of $2.2-$2.3 billion, with general and administrative expenses of $210 million for full-year 2024.

Transocean (RIG) Q1 Loss Narrower Than Expected, Revenues Miss

STEINHAUSEN, Switzerland, May 01, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that its wholly owned and indirect subsidiary, Transocean Titan Financing Limited (the “Company” and, together with Transocean Ltd., “Transocean”), is soliciting consents (“Consents” and, such solicitation being referred to herein as, the “Consent Solicitation”) from holders (the “Holders”) of its outstanding 8.375% Senior Secured Notes due 2028 (the “Notes”) as of 5:00 p.m. New York City time, on April 29, 2024 to effect an amendment to the indenture governing the Notes (the “Indenture”), as described below, upon the terms and subject to the conditions set forth in the Consent Solicitation Statement, dated May 1, 2024 (as may be amended or supplemented from time to time, the “Consent Solicitation Statement”). The Consent Solicitation will expire at 5:00 p.m. New York City time, on May 7, 2024 (such time and date, as the same may be extended by the Company from time to time, the “Expiration Date”).

Transocean Ltd. Announces Consent Solicitation for 8.375% Senior Secured Notes due 2028

Transocean Ltd. (NYSE:RIG ) Q1 2024 Earnings Conference Call April 30, 2024 9:00 AM ET Company Participants Alison Johnson - Director, IR Jeremy Thigpen - CEO Keelan Adamson - President and COO Mark Mey - EVP and CFO Roddie Mackenzie - EVP and CCO Conference Call Participants Kurt Hallead - Benchmark Eddie Kim - Barclays Doug Becker - Capital One Fredrik Stene - Clarkson Securities Arun Jayaram - JPMorgan David Smith - Pickering Energy Partners Operator Good day, everyone, and welcome to today's Q1 2024 Transocean's Earnings Call.

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