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Sep 30, 2020
Transocean Q3 2020 Earnings Report
Reported a net income attributable to controlling interest.
Key Takeaways
Transocean Ltd. reported a net income attributable to controlling interest of $359 million, or $0.51 per diluted share. Adjusted net loss was $69 million, or $0.11 per diluted share.
Total contract drilling revenues were $773 million (total adjusted contract drilling revenues of $830 million).
Revenue efficiency was 96.6%.
Operating and maintenance expense was $470 million.
Adjusted net loss was $69 million, $0.11 per diluted share, excluding $428 million of net favorable items.
Transocean
Transocean
Transocean Revenue by Segment
Forward Guidance
Company is growing increasingly encouraged by the contracting activity that could unfold in the second half of 2021.
Positive Outlook
- Company has sufficient liquidity to continue to invest in our workforce
- Company has sufficient liquidity to continue to invest in our assets
- Company has sufficient liquidity to continue to invest in the development of new and differentiating technologies
- Company's high-specification fleet enables it to build upon its position as the leader in ultra-deepwater and harsh environment drilling
- Company's reputation for delivering safe, reliable and efficient operations enables it to build upon its position as the leader in ultra-deepwater and harsh environment drilling
Revenue & Expenses
Visualization of income flow from segment revenue to net income