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Mar 31, 2021
Transocean Q1 2021 Earnings Report
Transocean reported a net loss for Q1 2021, but adjusted EBITDA and revenue efficiency showed strong performance.
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $99 million, or $0.16 per diluted share, for the three months ended March 31, 2021. However, the company's adjusted EBITDA was $245 million and revenue efficiency was 97.4%.
Total contract drilling revenues were $653 million (total adjusted contract drilling revenues of $709 million).
Revenue efficiency was 97.4%.
Net loss attributable to controlling interest was $99 million, $0.16 per diluted share.
Adjusted EBITDA was $245 million.
Transocean
Transocean
Transocean Revenue by Segment
Forward Guidance
Transocean is encouraged by the increasing number of customer inquiries and is optimistic that oil prices will remain constructive, driving an increase in contracting activity.
Positive Outlook
- Increasing customer inquiries for harsh-environment projects.
- Increasing customer inquiries for ultra-deepwater projects.
- Global economy begins to emerge from the pandemic.
- Optimistic that oil prices will remain constructive.
- Anticipate an increase in contracting activity.