Transocean Swings To Profit In Q1

May 05, 2026 — 01:48 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Transocean Ltd. (RIG) returned to profit in the first quarter, supported by higher contract drilling revenues and reduced expenses.

Operating income rose to $287 million from $64 million in the same period last year.

Net income came in at $71 million, reversing a loss of $79 million reported in the prior-year quarter. Earnings per share were $0.06, compared with a loss per share of $0.11 last year.

Excluding one-time items, the company posted a loss of $28 million or $0.03 per share.

Contract drilling revenues increased to $1.081 billion from $906 million year ago.

For the second quarter, the company expects Contract drilling revenues in the range of $930 million - $970 million.

For the full year, revenues are expected between $3.8 billion and $3.9 billion.

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Transocean Swings To Profit In Q1

Tags

Latest Articles