secwatch.observer — SEC 8-K summary
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Issuer:     Transocean Ltd. (RIG)
CIK:        0001451505
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001451505-23-000057
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Transocean Q1 net loss $465M, revenue up 7% sequentially; backlog $8.6B
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- Net loss attributable to controlling interest of $465M ($0.64 per diluted share) versus $350M loss in Q4 2022.
- Total contract drilling revenues of $649M, up from $606M in Q4 2022; adjusted revenues of $667M.
- Adjusted EBITDA of $217M, compared to $140M in prior quarter; adjusted net loss of $275M ($0.38 per share).
- Revenue efficiency 97.8%; operating and maintenance expense $409M, down from $423M.
- Contract backlog $8.6B as of April 2023; net cash used in operations $47M versus $178M provided in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451505/000145150523000057/0001451505-23-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451505/000145150523000057/rig-20230501x8k.htm
  HTML page:      https://secwatch.observer/filing/0001451505-23-000057

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