Transocean Q2 2023 net loss narrows to $165M; revenue up 12% sequentially to $729M

Transocean Ltd.

2023-Q2 EPS reported -$0.85 revenue$1,378,000,000

Net loss of $165M ($0.22/diluted share) vs $465M loss in Q1 2023; adjusted net loss $110M ($0.15/share).
Contract drilling revenues of $729M, up from $649M in Q1; revenue efficiency 97.2%.
Adjusted EBITDA of $237M vs $217M prior; cash from operations $157M vs -$47M.
Contract backlog of $9.2B; added $1.2B at ~$456K/dayrate via new contracts.
Capital expenditures $76M in Q2; CEO cites robust demand for high-spec floaters.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Transocean Ltd. reported second quarter 2023 results: revenue $729 million, net income $165 million, $0.22 per diluted share, EPS $0.22 per diluted share.

Period: second quarter 2023
Revenue: $729 million
Net income: $165 million, $0.22 per diluted share
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

to this report, is incorporated by reference herein. --- EX-99.1 (EX-99.1) --- TRANSOCEAN LTD. REPORTS SECOND QUARTER 2023 RESULTS ● Total contract drilling revenues were $729 million, compared to $649 million in the first quarter of 2023 (total adjusted contract drilling revenues of $748 million, compared to $667 million in the first quarter of 2023); ●

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Transocean Ltd. filing history →

Source: SEC EDGAR

accession 0001451505-23-000093

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