Transocean Q1 2024 Earnings Report
Key Takeaways
Transocean Ltd. reported a net income of $98 million, or $0.11 per diluted share, for the three months ended March 31, 2024. Contract drilling revenues increased sequentially by $22 million to $763 million.
Net income attributable to controlling interest was $98 million, or $0.11 per diluted share.
Adjusted net loss was $22 million, or $0.03 per diluted share.
Contract drilling revenues increased sequentially by $22 million to $763 million.
Secured a 365-day extension on Deepwater Asgard at a rate of $505,000 per day.
Transocean
Transocean
Transocean Revenue by Segment
Forward Guidance
Transocean is encouraged by the demand outlook and expects to see numerous long-term contracts awarded over the next several months and will remain acutely focused on operational execution across our fleet, as we endeavor to maximize the conversion of our industry-leading backlog to cash.
Positive Outlook
- Secured a 365-day extension on Deepwater Asgard at a rate of $505,000 per day.
- Finalized a $1.8 billion debt refinancing transaction, enabling us to improve near-term liquidity
- Started the process of simplifying our balance sheet.
- Completed the extension of our revolving credit facility to mid-2028
- Further enhanced our financial flexibility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income