Core Viewpoint - Transocean Ltd. reported a net loss of 79millionforQ12025,reflectingchallengesincontractdrillingrevenuesandincreasedoperatingexpenses,whilemaintainingabacklogof7.9 billion [2][3][8]. Financial Performance - Contract drilling revenues for Q1 2025 were 906million,adecreaseof46 million from the previous quarter and an increase of 143millionyear−over−year[3][21].−Revenueefficiencyimprovedto95.5618 million in Q1 2025, up from 579millioninQ42024,primarilyduetolegalcostsandincreasedshipyardexpenses[4][21].−AdjustedEBITDAforQ12025was244 million, with an adjusted EBITDA margin of 26.9%, down from 33.9% in the previous quarter [8][37]. Earnings and Losses - The net income attributable to controlling interest was a loss of 79million,translatingtoadilutedlosspershareof0.11 [2][21]. - Adjusted net loss for Q1 2025 was 65million,oralossof0.10 per diluted share, after accounting for unfavorable discrete tax items [2][33]. Cash Flow and Capital Expenditures - Cash provided by operating activities was 26million,adecreaseof180 million compared to the prior quarter, largely due to reduced customer collections [7][43]. - Capital expenditures increased to 60millioninQ12025from29 million in Q4 2024, focusing on upgrades for certain rigs [8][43]. Balance Sheet and Debt Management - The company repaid 210millioninoutstandingdebtduringthequarter,improvingitsbalancesheetdespiteongoingmarketvolatility[8][43].−TotalassetsasofMarch31,2025,were19.019 billion, down from 19.371billionattheendof2024[24][25].FleetandOperationalStatistics−Transoceanoperatesafleetof34mobileoffshoredrillingunits,withafocusonultra−deepwaterandharshenvironmentdrilling[11][12].−Theaveragedailyrevenueforultra−deepwaterfloaterswas443,600 in Q1 2025, while for harsh environment floaters it was $443,600, reflecting a slight decrease from the previous quarter [28][29].
Transocean(RIG) GlobeNewswire·2025-04-28 20:15