Transocean Ltd., in conjunction with its subsidiaries, offers specialized contract drilling services for oil and natural gas wells throughout the world. The ...
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Est. EPS $0.23 · Revenue $3.91B · 7 analysts
Est. EPS $0.27 · Revenue $3.88B · 8 analysts
Est. EPS $0.08 · Revenue $989.66M · 5 analysts
Est. EPS $0.10 · Revenue $1.01B · 5 analysts
EPS $-1.06 · Revenue $988.00M
EPS $-0.11 · Revenue $906.00M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $4.0B | +12.5% | -10.6% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-2.9B | -469.3% | +139.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +83.4% | +5.5% | -57.3% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +17.8% | +68.4% | -39.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -73.5% | -406.0% | +167.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $626.0M | +224.4% | +55.9% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +15.8% | +188.3% | +74.4% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 69.8% | -1.0% | -5.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.56x | +5.6% | +3.3% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $15.6B | -19.3% | +0.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -3.04 vs 0.12 | -2581.2% | 0.14 vs 0.08 | +72.0% |
| Revenue Surprise | $4.0B vs $4.0B | +0.3% | $966.0M vs $989.7M | -2.4% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jul 2, 2026 | DEATON CHAD C | director | Registered Shares | A | 35,000 | $4.95 |
| May 26, 2026 | Lacey William F. | director | Registered Shares | D | 20,934 | $6.70 |
| May 26, 2026 | DEATON CHAD C | director | Registered Shares | D | 20,932 | $6.70 |
| May 26, 2026 | Mohn Frederik Wilhelm | director | Registered Shares | D | 25,597 | $6.70 |
| May 22, 2026 | Lacey William F. | director | Registered Shares | A | 82,353 | $6.81 |
Operator: Thank you for your continued patience. Your meeting will begin shortly. If you need assistance at any time, please press 0, and a member of our team will be happy to help you. Good morning, everyone. Welcome to today's Transocean Ltd. First Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. During the question and answer session, to register to ask a question at any time, please press 1 on your telephone. Additionally, you may remove yourself from the queue by pressing 2. Please note today's call is being recorded. I will be standing by if you should need any assistance. It is now my pleasure to turn the meeting over to David Kiddington, Vice President and Treasurer. David, please go ahead. David Kiddington: Thank you, and good morning, everyone. Welcome to Transocean Ltd.'s first quarter earnings call. Leading today's call will be Transocean Ltd.'s President and Chief Executive Officer, Keelan I. Adamson. Keelan I. Adamson will be joined by other members of Transocean Ltd.'s executive management team, Chief Financial Officer, Thaddeus Vayda, and Chief Commercial Officer, Roderick J. Mackenzie. In addition to the comments that will be shared on today's call, we would like to direct you to our earnings release, fleet status report, and 8-Ks filed yesterday that contain additional information, all of which is available on Transocean Ltd.'s website at www.deepwater.com. Following our prepared comments, we will open the conference line for questions. Please limit your inquiries to one question and one follow-up, as this will allow us to hear from more participants. Before we begin, I would like to remind everyone that today's call will include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially. With that, I will hand it over to Transocean Ltd.'s CEO, Keelan I. Adamson. Keelan I. Adamson: Good morning, and welcome to our first quarter conference call. Today, we will address several topics. First, an overview of our accomplishments in the first quarter. Next, I will provide some market updates, including a few thoughts on the impact of events in the Middle East on our business. Then I will update you on the pending acquisition of Valaris. And finally, Thaddeus will make a few comments on our financial results and guidance. First, the quarter. Operational performance was very strong, with uptime of 98%. Adjusted EBITDA was $440 million, implying a solid margin of over 40%. Our average daily revenue in the period was $476,000, the highest in over a decade. These results were accomplished while working safely and efficiently with zero life-changing injuries or operational integrity events. This exceptional performance is due to our team's dedication to providing best-in-class service to our customers. We are committed to eliminating costs from our business and are on track to deliver, versus a 2024 baseline, savings of $250 …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Jeremy D. Thigpen | Executive Chair | USD 3,365,659 | Male | 1975 | Active |
Keelan I. Adamson | President, Chief Executive Officer & Director | USD 2,955,747 | Male | 1970 | Active |
Brady K. Long | Executive Vice President & Chief Legal Officer | USD 1,717,957 | Male | 1973 | Active |
Robert Thaddeus Vayda | Executive Vice President & Chief Financial Officer | USD 1,692,586 | Male | 1963 | Active |
Roderick J. Mackenzie | Executive Vice President & Chief Commercial Officer | USD 1,511,809 | Male | 1976 | Active |
Jason Pack Mgt. | Senior Vice President & Chief Accounting Officer | USD 1,011,663 | Male | 1976 | Active |
Jess Richards | Senior Vice President of Operations | — | Male | — | Active |
Paul Johnson | Executive Vice President of Operations | — | Male | — | Active |
Alison Johnson | Director of Investor Relations | — | Female | — | Active |
Janelle Daniel | Senior Vice President of Human Capital Management, Administrative Services & Communications | — | Female | — | Active |
Assenagon Asset Management S.A. acquired a new stake in shares of Transocean Ltd. (NYSE: RIG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,664,059 shares of the offshore drilling services provider's stock, valued at approximately $37,477,000. Assenagon Asset
Transocean NYSE: RIG reported second-quarter results that exceeded its prior revenue and cost guidance, supported by 98% fleet uptime, contract additions and lower-than-expected operating expenses. The offshore drilling contractor also said it expects to close its acquisition of Valaris in the fourth quarter, pending remaining regulatory approvals.
Transocean Ltd. (RIG) Q2 2026 Earnings Call Transcript
Transocean (RIG) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to break-even earnings per share a year ago.
Although the revenue and EPS for Transocean (RIG) give a sense of how its business performed in the quarter ended June 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
