Transocean posts Q3 net loss of $220M, revenue down 2% sequentially; backlog reaches $9.4B

Transocean Ltd.

2023-Q3 EPS reported -$1.13 revenue$2,091,000,000

Net loss attributable to controlling interest of $220M ($0.28/diluted share), vs. $165M ($0.22) in Q2 2023.
Adjusted net loss was $280M ($0.36/diluted share) after net favorable items of $60M.
Contract drilling revenues $713M, down from $729M sequentially; adjusted EBITDA $162M vs. $237M.
Backlog grew to $9.4B as of October 2023, marking sixth consecutive quarterly increase.
CEO cites early-stage multi-year upcycle; secured three-year contract for Deepwater Aquila in Brazil.

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 0.9

Transocean Ltd. reported third quarter 2023 results: revenue $713 million, net income Net loss attributable to controlling interest was $220 million, $0.28 per diluted share, EPS $0.28 per diluted share.

Period: third quarter 2023
Revenue: $713 million
Net income: Net loss attributable to controlling interest was $220 million, $0.28 per diluted share
EPS: $0.28 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 THIRD QUARTER 2023 RESULTS ● Total contract drilling revenues were $713 million, compared to $729 million in the second quarter of 2023 (total adjusted contract drilling revenues of $721 million, compared to $748 million in the second quarter of 2023); ●

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Source: SEC EDGAR

accession 0001451505-23-000124

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