Quarterly ResultAug 5, 2026, 05:02 PM
Transocean Q2 Net Income $170M; Revenue $966M
AI Summary
Transocean Ltd. reported strong financial results for the second quarter of 2026, with net income reaching $170 million, a substantial turnaround from a loss in the prior year. The company generated $966 million in contract drilling revenues and $212 million in free cash flow, contributing to over $1.3 billion in total liquidity. Transocean also added $292 million to its contract backlog, bringing the total to approximately $6.7 billion, and provided a positive outlook for increasing demand for its high-specification rigs.
Key Highlights
- Net income was $170 million, a significant improvement from a loss of $938 million in Q2 2025.
- Contract drilling revenues reached $966 million, with a revenue efficiency of 97.0%.
- Adjusted EBITDA stood at $312 million, reflecting a margin of 32.2%.
- Generated $212 million in free cash flow, up from $104 million in Q2 2025.
- Ended the quarter with total liquidity exceeding $1.3 billion.
- Added $292 million in contract backlog at a weighted average dayrate of about $461,000.
- Total contract backlog is approximately $6.7 billion, excluding a $1.0 billion Equinor agreement.
- Forecasts full-year 2026 contract drilling revenues between $3,900 million and $3,975 million.
Price Impact
More from RIG