NYSE$RIG
Transocean LTD · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Transocean reported a net loss for Q2 2024, but revenue increased due to higher rig utilization and revenue efficiency.
Transocean Ltd. reported a net loss attributable to controlling interest of $123 million, or $0.15 per diluted share, for the three months ended June 30, 2024. Contract drilling revenues increased sequentially by $98 million to $861 million, driven by increased rig utilization and higher revenue efficiency.
- Contract drilling revenues increased to $861 million due to increased rig utilization and higher revenue efficiency.
- Revenue efficiency reached 96.9%.
- Adjusted EBITDA margin was 33.0%.
- The team recently secured a number of meaningful contracts.
Headline financials
Revenue & EPS history
Transocean · Revenue · Quarterly
$861M
Revenue by segment
Transocean · $713M total across 2 segments · Q3 2023
- Ultra-Deepwater Floaters$516M+19.2%72.4%
- Harsh Environment Floaters$197M-23.6%27.6%
Forward guidance
Transocean is focused on optimizing its portfolio of assets to maximize EBITDA and generate free cash flows, which it can use to de-lever the balance sheet.
Tailwinds
- Strong uptime performance for customers
- Revenue efficiency of 97%
- Adjusted EBITDA margins of 33%
- Secured a number of meaningful contracts
- Continuing 20K operations with Beacon in the U.S. Gulf of Mexico
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.0%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+5.1%
Avg return
30 days after
44%
32 / 72 earnings
Positive
+36.8%
Q1 2020
Best reaction
-13.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | -6.7% | -8.9% | |
| Q4 2025 | +2.5% | +0.8% | -2.2% | |
| Q3 2025 | +1.8% | +1.8% | +15.1% | |
| Q1 2025 | -4.8% | +2.6% | +12.6% | |
| Q4 2024 | +0.6% | -4.8% | -8.2% | |
| Q3 2024 | +10.7% | +12.5% | +12.2% | |
| Q2 2024 | -3.9% | -11.8% | -16.5% | |
| Q1 2024 | -11.1% | -5.1% | +1.2% | |
| Q4 2023 | -4.5% | -4.5% | +24.7% | |
| Q3 2023 | +1.1% | +4.4% | -4.6% | |
| Q2 2023 | -2.1% | -0.7% | -4.4% | |
| Q1 2023 | -2.9% | +4.4% | -3.1% | |
| Q4 2022 | -13.0% | -3.7% | -15.7% | |
| Q3 2022 | +13.7% | +16.4% | +14.5% | |
| Q2 2022 | +10.7% | +1.8% | +7.1% | |
| Q1 2022 | +6.1% | +9.6% | +9.8% | |
| Q4 2021 | +3.9% | -0.6% | +32.2% | |
| Q3 2021 | +4.5% | +1.4% | -17.3% | |
| Q2 2021 | -3.0% | -4.2% | -3.6% | |
| Q1 2021 | +6.2% | +24.2% | +37.6% | |
| Q4 2020 | -6.0% | -0.6% | -6.0% | |
| Q3 2020 | +29.8% | +49.3% | +211.9% | |
| Q2 2020 | +2.0% | +4.4% | -33.8% | |
| Q1 2020 | +36.8% | +30.9% | +41.5% | |
| Q4 2019 | -2.4% | -8.0% | -75.4% | |
| Q3 2019 | +8.7% | +9.4% | +6.8% | |
| Q2 2019 | +7.0% | -5.5% | -21.3% | |
| Q1 2019 | -10.7% | -11.8% | -23.3% | |
| Q4 2018 | -2.2% | -7.6% | +5.9% | |
| Q3 2018 | -1.4% | -0.7% | -12.6% | |
| Q2 2018 | -0.3% | +0.2% | -5.5% | |
| Q1 2018 | -3.1% | -2.7% | +1.2% | |
| Q4 2017 | -0.9% | +6.7% | +10.3% | |
| Q3 2017 | +1.1% | +7.0% | +3.1% | |
| Q2 2017 | +7.7% | +1.9% | -0.3% | |
| Q1 2017 | -0.8% | +6.9% | -13.3% | |
| Q4 2016 | +6.2% | +5.1% | -9.0% | |
| Q3 2016 | +2.9% | +1.5% | +39.2% | |
| Q2 2016 | +7.8% | +12.5% | -4.2% | |
| Q1 2016 | -3.5% | — | — | |
| Q4 2015 | -3.6% | — | — | |
| Q3 2015 | -8.0% | — | — | |
| Q2 2015 | +13.3% | — | — | |
| Q1 2015 | -3.5% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | -1.4% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | +8.8% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +7.1% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q1 2012 | -4.0% | — | — | |
| Q4 2011 | +6.8% | — | — | |
| Q3 2011 | -10.5% | — | — | |
| Q2 2011 | -8.9% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q2 2010 | +15.0% | — | — | |
| Q1 2009 | -4.2% | — | — | |
| Q1 2010 | +6.7% | — | — | |
| Q4 2009 | -6.2% | — | — | |
| Q4 2007 | -6.2% | — | — | |
| Q3 2008 | -0.1% | — | — | |
| Q3 2009 | -0.1% | — | — | |
| Q2 2008 | -6.4% | — | — | |
| Q2 2009 | -6.4% | — | — | |
| Q4 2008 | -6.4% | — | — |
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