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Jun 30, 2021
Transocean Q2 2021 Earnings Report
Transocean experienced a slight increase in contract drilling revenues and maintained strong revenue efficiency.
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $103 million, or $0.17 per diluted share, for the three months ended June 30, 2021. Contract drilling revenues increased slightly to $656 million. The company's revenue efficiency remained strong at 98.0%.
Total contract drilling revenues were $656 million (total adjusted contract drilling revenues of $713 million).
Revenue efficiency was 98.0%.
Net loss attributable to controlling interest was $103 million, $0.17 per diluted share.
Adjusted EBITDA was $255 million.
Revenue by Segment
Forward Guidance
Transocean anticipates improved utilization and dayrates for ultra-deepwater assets in 2022, assuming supportive oil prices.
Positive Outlook
- Upcycle unfolding
- Improved liquidity through delayed delivery and payment of newbuild drillships
- ATM program initiation provides additional optionality
- Focus on operational excellence
- Strong uptime performance
Challenges Ahead
- Oil prices need to remain supportive
- Uncertainties and risks
- Estimated duration of customer contracts
- Planned shipyard projects and other out-of-service time
- Operating hazards and delays
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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