Transocean Ltd

RIG

Equity

ISIN CH0048265513 / Valor 4826551

New York Stock Exchange, Inc (2024-12-24)

USD 3.53+1.73%

Transocean Ltd
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About company

Transocean Ltd is a leading offshore drilling contractor that has experienced significant growth through mergers in the 2000s. The company is known for its ultra-deepwater and harsh environment floaters, which have set world records in the industry. Transocean Ltd provides drilling services to oil and gas companies worldwide, operating a fleet of advanced drilling rigs to support exploration and production activities in challenging offshore environments.

Summarized from source with an LLMView SourceSector: Energy

Revenue Increase

Transocean Ltd. reported contract drilling revenues of $861 million for the second quarter of 2024, marking a sequential increase of $98 million from the previous quarter. This rise was primarily driven by increased rig utilization and higher revenue efficiency across the fleet.

Net Loss

For the second quarter of 2024, Transocean Ltd. reported a net loss attributable to controlling interest of $123 million, or $0.15 per diluted share. This represents a significant decline from the net income of $98 million reported in the first quarter of 2024.

Operating Expenses

Transocean Ltd.'s operating and maintenance expenses for the second quarter of 2024 were $534 million, up from $523 million in the prior quarter. The increase was mainly due to rigs returning to work after undergoing contract preparation and increased costs associated with the early retirement of certain personnel.

Adjusted EBITDA

Adjusted EBITDA for Transocean Ltd. in the second quarter of 2024 was $284 million, an increase of $85 million from the first quarter. The Adjusted EBITDA margin also improved to 33.0% from 26.0% in the previous quarter.

Cash Flow

Transocean Ltd. reported cash provided by operating activities of $133 million during the second quarter of 2024, a significant increase from the $86 million cash used in operating activities in the prior quarter. This improvement was primarily due to the timing of interest payments and decreased payments for payroll-related costs.

Summarized from source with an LLMView Source

Key figures

-44.5%1Y

15.7%3Y

-46.1%5Y

Performance

47.1%1Y

62.5%3Y

89.8%5Y

Volatility