Transocean Q3 2022 Earnings Report
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $28 million, or $0.04 per diluted share, for the three months ended September 30, 2022. Contract drilling revenues for the three months ended September 30, 2022 were $691 million.
Total contract drilling revenues were $691 million, compared to $692 million in the second quarter of 2022
Revenue efficiency was 95.0%, compared to 97.8% in the prior quarter
Net loss attributable to controlling interest was $28 million, $0.04 per diluted share, compared to $68 million, $0.10 per diluted share, in the second quarter of 2022
Adjusted EBITDA was $268 million, compared to $245 million in the prior quarter
Transocean
Transocean
Transocean Revenue by Segment
Forward Guidance
The robust demand for our assets and services helped us secure an incremental $1.6 billion since our July 25 Fleet Status Report, contributing to our already industry-leading backlog. We remain encouraged by the sustained strength in the offshore drilling market globally and expect demand for the increasingly scarce high-capability drilling rigs Transocean owns and operates to remain strong for the foreseeable future, resulting in higher utilization and dayrates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income