Transocean Q4 2019 Earnings Report
Key Takeaways
Transocean Ltd. reported a net loss attributable to controlling interest of $51 million, or $0.08 per diluted share, for the three months ended December 31, 2019. Total contract drilling revenues were $792 million, with adjusted EBITDA at $223 million. The company's contract backlog was $10.2 billion as of the February 2020 Fleet Status Report.
Total contract drilling revenues were $792 million (total adjusted contract drilling revenues of $839 million).
Revenue efficiency was 96.2%.
Net loss attributable to controlling interest was $51 million, $0.08 per diluted share.
Adjusted EBITDA was $223 million.
Transocean
Transocean
Transocean Revenue by Segment
Forward Guidance
Transocean anticipates increasing contracting activity, utilization and day-rates.
Positive Outlook
- Improving longer-term market fundamentals
- Increasing list of opportunities
- Year-over-year increase in contracting activity
- Year-over-year increase in utilization
- Year-over-year increase in day-rates
Challenges Ahead
- Risks COVID-19 presents to near-term oil demand
Revenue & Expenses
Visualization of income flow from segment revenue to net income