secwatch.observer — SEC 8-K summary
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Issuer:     Transocean Ltd. (RIG)
CIK:        0001451505
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001451505-23-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Transocean Q4 net loss widens to $350M; revenue down 12% sequentially
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- Net loss attributable to controlling interest of $350M ($0.48/diluted share) vs $28M in Q3 2022.
- Contract drilling revenues $606M, down from $691M in Q3; adjusted EBITDA $140M vs $268M.
- Revenue efficiency improved to 98.0% from 95.0% in prior quarter.
- Contract backlog $8.5B as of Feb 2023; CEO notes $4B in incremental backlog added in 2022.
- Full year 2022 net loss $621M ($0.89/diluted share); adjusted net loss $648M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451505/000145150523000021/0001451505-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451505/000145150523000021/rig-20230221x8k.htm
  HTML page:      https://secwatch.observer/filing/0001451505-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer