secwatch.observer — SEC 8-K summary
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Issuer:     Transocean Ltd. (RIG)
CIK:        0001451505
Form:       8-K
Filed at:   2026-02-20T23:59:59+00:00
Accession:  0001451505-26-000012
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Transocean FY25 revenue $3.965B (+13% YoY); adj. EBITDA $1.37B; backlog $6.1B
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- Operating revenues $3.965B, up 13% vs 2024; revenue efficiency 96.5% (up from 94.5%).
- Net loss $2.915B ($3.04/sh) from $3.036B impairment; adjusted net income $37M ($0.04/sh).
- Adjusted EBITDA $1.37B (+19% YoY); cash from ops $749M (+68%); free cash flow $626M.
- Total debt reduced by $1.258B to $5.686B; added $839M backlog at $453k avg dayrate.
- Q4 revenue $1.043B, net income $25M; FY26 guide revenue $3.8-3.95B; backlog $6.1B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1451505/000145150526000012/0001451505-26-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1451505/000145150526000012/rig-20260219x8k.htm
  HTML page:      https://secwatch.observer/filing/0001451505-26-000012

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