secwatch.observer — SEC 8-K summary
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Issuer:     Transocean Ltd. (RIG)
CIK:        0001451505
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001451505-24-000110
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451505/000145150524000110/0001451505-24-000110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451505/000145150524000110/rig-20240731x8k.htm
  HTML page:      https://secwatch.observer/filing/0001451505-24-000110

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer