Transocean Ltd. (RIG) has officially commenced operations for British energy major BP p.l.c. (BP) in the Gulf of America (formerly the U.S. Gulf of Mexico). This milestone marks the beginning of a significant ultra-deepwater drilling project to further tap into the region’s hydrocarbon potential.During the first quarter of 2025, Transocean, currently carrying a Zacks Rank #3 (Hold), reported total adjusted revenues of $906 million, which increased 18.7% from the prior-year figure of $763 million. The improv ...

There are some uncommon ways to time the financial markets. Still, when these signs show up, investors can gain an unfair advantage over most other participants if they know what to look for and how to read them. The latest sign of potential opportunity comes from the energy sector, specifically in acquisitions. Here's a brief explanation for those unfamiliar with what this might imply. When companies become acquisition targets, even though they might already be a big and established name in an industry, it ...

I have written many articles about Transocean’s (NYSE: RIG ) stock and the company’s fundamentals, namely its financials, its fleet, the backlog, and the management. In this analysis, however, I would like to focus more on the stock’s undervaluation and theA research analyst and a freelance writer looking for value investment opportunities. I have several years of investing experience. I am mostly interested in writing about bargain stocks of large companies. My interest is not limited to American companies ...

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Transocean Ltd. (RIG) reported a first-quarter 2025 adjusted net loss of 10 cents per share, narrower than the Zacks Consensus Estimate of a loss of 12 cents. However, the bottom line underperformed the year-ago period’s loss of 3 cents per share. This underperformance can be attributed to higher costs and expenses.This Switzerland-based offshore drilling powerhouse’s total adjusted revenues of $906 million beat the Zacks Consensus Estimate of $886 million. The top line also increased 18.7% from the prior-y ...

Core Viewpoint - Transocean's latest quarterly earnings report revealed disappointing financial results, leading to a decline in stock price, but the company remains optimistic about its future prospects [1][4]. Financial Performance - The company reported first-quarter revenue of $906 million, which is a nearly 5% decline year-over-year [2]. - On an adjusted basis, Transocean experienced a net loss of $65 million, or $0.10 per share, compared to a profit of $27 million in the same quarter last year [2][3]. - Analysts had anticipated revenue of just under $885 million and a narrower net loss of $0.09 per share, indicating that the actual results fell short of expectations [3]. Operational Challenges - Transocean attributed the revenue decline to operational issues, including one rig needing contract preparation and mobilization, while another rig was idle between contracts [3]. Future Outlook - CEO Jeremy Thigpen expressed confidence in the company's ability to navigate uncertain macroeconomic conditions and highlighted ongoing discussions with customers about future opportunities [4]. - Despite the disappointing quarterly results, the company is viewed as capable of improving performance moving forward [4].

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the transition period from _____ to _____ Commission file number 001-38373 Transocean Ltd. (Exact name of registrant as specified in its charter) Switzerland 98-0599916 (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 ...

Financial Data and Key Metrics Changes - Transocean reported an adjusted EBITDA of $244 million on contract drilling revenues of $906 million, resulting in an adjusted EBITDA margin of approximately 27% [9][23] - The company experienced a net loss attributable to controlling interest of $79 million, equating to a net loss of $0.11 per diluted share [23] - Cash flow from operating activities was $26 million, while free cash flow was negative $34 million due to $60 million in capital expenditures [23][24] - Total liquidity at the end of the first quarter was approximately $1.3 billion, including $263 million in unrestricted cash [25] Business Line Data and Key Metrics Changes - Contract drilling revenues exceeded guidance primarily due to higher utilization on the Transocean Spitzbergen and Transocean Endurance [23] - Average daily revenue was approximately $444,000, with operating and maintenance expenses at $618 million, which was within guidance [23][24] Market Data and Key Metrics Changes - The U.S. Gulf is expected to see up to six programs commence in the second and third quarters of 2026, with three expected to come from public tenders [15] - In Brazil, Petrobras is increasing its rig count and has released tenders for upcoming projects, indicating a strong market outlook [16] - The company anticipates growth in West Africa, with multi-year opportunities expected to arise in 2026 [60] Company Strategy and Development Direction - Transocean is focused on converting its $7.9 billion backlog into revenue and cash to create sustainable value for shareholders [22] - The company is committed to delivering safe, reliable, and efficient operations while optimizing performance and maximizing shareholder returns [6][22] - Management emphasized the importance of deepwater drilling and the strategic shift among European majors towards oil and gas investments [11][14] Management Comments on Operating Environment and Future Outlook - Management noted that market volatility has not materially impacted business operations, with no planned programs delayed or canceled [13] - The outlook for deepwater drilling remains positive, with projections indicating a 40% increase in deepwater investment by 2029 [14][86] - Management expressed confidence in the future of offshore drilling, citing strong fundamentals and increasing offshore drilling activity [21][88] Other Important Information - The company has identified approximately $100 million in cash cost savings for 2025, with a similar amount expected for 2026 [34][70] - There are no significant costs associated with achieving these savings, which primarily come from renegotiating contracts and utilizing local crews [72] Q&A Session Summary Question: Timing of contract announcements - Management expects several contract announcements throughout the year, particularly in the second half, with a focus on long-term awards [44] Question: Day rates for upcoming contracts - There may be near-term pressure on day rates for short-term work, but long-term contracts are expected to remain stable [46][47] Question: Implications of Shell awards from Noble - Management believes there are still opportunities with Shell, as they anticipate additional demand in the Gulf of Mexico [54] Question: Activity assumptions for West Africa - Management sees potential growth in West Africa, with expectations for multi-year opportunities starting in 2026 [60] Question: Cost savings details - Management confirmed $100 million in identified savings for 2025, with a similar expectation for 2026, primarily from operational efficiencies [70] Question: Status of idle and cold stacked vessels - The company is actively looking for opportunities for its idle vessels and continues to assess its cold stacked fleet [76][78]

Transocean (RIG) Q1 2025 Earnings Call April 29, 2025 10:00 AM ET Company Participants Alison Johnson - Director-Investor RelationsJeremy Thigpen - CEO & Executive DirectorKeelan Adamson - President and Chief Operating OfficerThaddeus Vayda - EVP & CFOEddie Kim - Vice President - Equity ResearchRoddie Mackenzie - Executive VP & Chief Commercial OfficerArun Jayaram - Vice PresidentFredrik Stene - Head of ResearchNoel Parks - Managing Director - Energy Research Operator Good day, everyone, and welcome to the ...

Core Viewpoint - Transocean reported a quarterly loss of $0.10 per share, which was better than the Zacks Consensus Estimate of a loss of $0.12, indicating a 16.67% earnings surprise [1] Group 1: Financial Performance - The company posted revenues of $906 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.28%, compared to $767 million in the same quarter last year [2] - Over the last four quarters, Transocean has exceeded consensus EPS estimates two times and topped revenue estimates twice [2] - The current consensus EPS estimate for the upcoming quarter is $0.02 on revenues of $963.5 million, and for the current fiscal year, it is $0.06 on revenues of $3.86 billion [7] Group 2: Stock Performance - Transocean shares have declined approximately 37.9% since the beginning of the year, contrasting with the S&P 500's decline of 6.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Group 3: Industry Outlook - The Oil and Gas - Drilling industry, to which Transocean belongs, is currently ranked in the bottom 13% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]