---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-25-000046"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2025-04-28T23:59:59+00:00"
generated_at: "2026-05-23T04:53:56.082510+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Transocean Q1 net loss $79M; revenue down 5% seq to $906M; adj EBITDA $244M

## Summary
- Net loss attributable to controlling interest $79M ($0.11 diluted loss per share) vs net income $7M in Q4 2024.
- Contract drilling revenues $906M, down $46M sequentially; up $143M YoY from $763M.
- Adjusted EBITDA $244M (26.9% margin) vs $323M (33.9%) in prior quarter.
- Backlog $7.9 billion as of April 2025; repaid $210M in outstanding debt during quarter.
- CEO cites near-term market volatility from uncertain macro conditions but engaged on future opportunities.

## SEC filing metadata
- accession: 0001451505-25-000046
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2025-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000046/0001451505-25-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000046/rig-20250428x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-25-000046
- JSON: https://secwatch.observer/filing/0001451505-25-000046.json
- Plain text: https://secwatch.observer/filing/0001451505-25-000046.txt

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