---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-23-000124"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2023-10-31T23:59:59+00:00"
generated_at: "2026-06-09T04:30:59.245093+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001451505-23-000124
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2023-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000124/0001451505-23-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000124/rig-20231030x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-23-000124
- JSON: https://secwatch.observer/filing/0001451505-23-000124.json
- Plain text: https://secwatch.observer/filing/0001451505-23-000124.txt

## Key facts
- Earnings Releases
  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
  source text: 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); ●
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000124/0001451505-23-000124-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.