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Jun 30, 2022
Transocean Q2 2022 Earnings Report
Transocean reported second quarter 2022 results with increased revenues and adjusted EBITDA.
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $68 million, or $0.10 per diluted share, for the three months ended June 30, 2022. Contract drilling revenues increased sequentially by $106 million to $692 million. Adjusted EBITDA was $245 million.
Total contract drilling revenues were $692 million, compared to $586 million in the first quarter of 2022.
Revenue efficiency was 97.8%, compared to 94.9% in the prior quarter.
Net loss attributable to controlling interest was $68 million, $0.10 per diluted share, compared to $175 million, $0.26 per diluted share, in the first quarter of 2022.
Adjusted EBITDA was $245 million, compared to $163 million in the prior quarter.
Revenue by Segment
Forward Guidance
Transocean expects recovery in offshore drilling is underway, as contracting activity, utilization rates for high-specification ultra-deepwater and harsh-environment assets, and dayrates all continue to rise.
Positive Outlook
- Contracting activity is rising.
- Utilization rates for high-specification ultra-deepwater assets are rising.
- Utilization rates for harsh-environment assets are rising.
- Dayrates are rising.
- Hydrocarbon supply challenges
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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