---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-26-000041"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:52:08.893211+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Transocean Q1 net income $71M, revenue $1.08B, backlog reaches $7.1B with $1.6B new contracts

## Summary
- GAAP net income $71M ($0.06 diluted EPS); adjusted net loss $28M (-$0.03 adjusted EPS).
- Contract drilling revenue $1.08B, up from $906M YoY; revenue efficiency 97.3%.
- Adjusted EBITDA $440M (40.7% margin) vs $244M (26.9%) YoY.
- Early retired $358M of 8.375% notes due 2028, reducing interest cost by ~$40M.
- Added $1.6B in new contracts with weighted avg dayrate ~$410k; total backlog $7.1B.

## SEC filing metadata
- accession: 0001451505-26-000041
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150526000041/0001451505-26-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150526000041/rig-20260504x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-26-000041
- JSON: https://secwatch.observer/filing/0001451505-26-000041.json
- Plain text: https://secwatch.observer/filing/0001451505-26-000041.txt

## Key facts
- Earnings Releases
  Transocean Ltd. reported first quarter 2026 results: revenue $1.08 billion, net income $71 million, EPS $0.06 per diluted share. Guidance initiated.
  - Period: first quarter 2026
  - Revenue: $1.08 billion
  - Net income: $71 million
  - EPS: $0.06 per diluted share
  - Guidance: initiated
  - Result: reported results
  source text: first quarter 2026 Key points ● Contract drilling revenues were $1.08 billion due in part to strong revenue efficiency (1) of 97.3%. ● Net income was $71 million or $0.06 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150526000041/0001451505-26-000041-index.htm

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