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Mar 31, 2023
Transocean Q1 2023 Earnings Report
Transocean experienced a net loss but demonstrated strong operational performance and revenue efficiency.
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $465 million, or $0.64 per diluted share, for the three months ended March 31, 2023. However, the company delivered strong operational performance with an adjusted EBITDA margin of 33% on adjusted revenues of $667 million, and a revenue efficiency of nearly 98 percent.
Total contract drilling revenues were $649 million.
Revenue efficiency was 97.8%.
Adjusted EBITDA was $217 million.
Contract backlog was $8.6 billion as of the April 2023 Fleet Status Report.
Revenue by Segment
Forward Guidance
Transocean's CEO indicated the contracts secured during the quarter, predominantly for the harsh environment fleet, complement the wave of ultra-deepwater fixtures announced over the last several quarters, providing further evidence of a broad, sustained upcycle.
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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