Transocean Ltd. Stock News

Transocean's CEO is optimistic about the company's future, with a fully contracted fleet for 2024-2026 and high day rates indicating strong market conditions. A potential merger with Seadrill could significantly boost Transocean's backlog and fleet, enhancing its competitive position among offshore drillers. Despite strong fundamentals, Transocean's stock remains undervalued due to market skept...

Transocean owns 26 ultra-deepwater floaters and eight harsh-environment floaters. RIG has a substantial $9.3 billion backlog, positioning it well for future profitability. The industry's big news is Seadrill's potential acquisition. I believe RIG and SDRL will benefit from the transaction. For 3Q24, RIG reported $948 million in revenue and $338 million in EBITDA. YoY revenue grew by 32.9% and E...

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Leading offshore driller Transocean reported better than expected Q3/2024 results with both revenues and profitability exceeding consensus expectations. Backlog of $9.3 billion was up 7.6% on a sequential basis mostly due to a new $531 million contract for the high-specification drillship, Deepwater Invictus. Strong contract coverage will effectively shield the company from anticipated near-ter...

Transocean Ltd. (NYSE:RIG ) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET Company Participants Alison Johnson - Director of Investor Relations Jeremy D.

STEINHAUSEN, Switzerland, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $494 million, $0.58 per diluted share, for the three months ended September 30, 2024.

Earnings season can be a volatile period for stock ownership due to the uncertainty surrounding whether the underlying companies' results will beat or disappoint. However, there are ways for investors to gauge the trends behind certain companies, landing them on the bullish or bearish side of earnings expectations.

Transocean's recent stability in fundamentals contrasts with its volatile share price, justifying a 'hold' rating despite a 24.9% drop since July. Revenue increased by 18.1% year-over-year, driven by higher daily revenue, improved rig utilization, and newbuild floaters, despite some negative impacts. The company's net loss improved from $165 million to $123 million, with EBITDA rising from $237...