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Mar 31, 2022
Transocean Q1 2022 Earnings Report
Transocean reported a net loss for Q1 2022, with revenues decreasing due to lower dayrates and fewer calendar days.
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $175 million, or $0.26 per diluted share, for the three months ended March 31, 2022. Contract drilling revenues decreased to $586 million.
Total contract drilling revenues were $586 million, compared to $621 million in the fourth quarter of 2021.
Revenue efficiency was 94.9%, compared to 94.5% in the prior quarter.
Net loss attributable to controlling interest was $175 million, $0.26 per diluted share, compared to $260 million, $0.40 per diluted share, in the fourth quarter of 2021.
Adjusted EBITDA was $163 million, compared to $250 million in the prior quarter.
Revenue by Segment
Forward Guidance
Transocean is optimistic about its future due to supportive hydrocarbon prices and the recognition of oil and natural gas as important energy resources.
Positive Outlook
- Industry-leading fleet of high-specification, ultra-deepwater and harsh-environment floaters
- Continued deployment of new technologies
- Well-positioned to capitalize on the ongoing recovery in the offshore drilling market
- Hydrocarbon prices remain highly supportive
- Oil and natural gas will continue to be important energy resources for security and economic growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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