TransoceanNYSE: RIG

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 EBITDA by 117%.

LOS ANGELES, CA / ACCESSWIRE / November 3, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Transocean Ltd. ("Transocean" or "the Company") (NYSE:RIG) for violations of the securities laws.

LOS ANGELES, CA / ACCESSWIRE / November 2, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Transocean Ltd. ("Transocean" or "the Company") (NYSE:RIG) for violations of the securities laws.

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-term weakness in deepwater activity.

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.

Transocean (RIG) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.36 per share a year ago.

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.

As offshore investment rebounds, RIG and SDRL eye a merger to leverage deepwater prospects and capitalize on the recent oil and gas discoveries.

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 million to $284 million, indicating better profitability metrics.