Transocean Q2 2024 net loss $123M, revenue $861M, backlog $8.64B

Transocean Ltd.

2024-Q2 EPS reported -$0.03 revenue$1,624,000,000

Net loss attributable to controlling interest $123M ($0.15 diluted loss per share) vs prior quarter net income of $98M.
Contract drilling revenues $861M, up $98M sequentially, driven by higher rig utilization and revenue efficiency.
Adjusted EBITDA $284M (33.0% margin) vs $199M (26.0%) in Q1 2024.
Revenue efficiency improved to 96.9% from 92.9% in the prior quarter.
Backlog $8.64 billion; CEO highlights continued 20K operations with Beacon in U.S. Gulf of Mexico.

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