Transocean reported second quarter 2026 financial results that exceeded analyst expectations on both revenue and earnings. The company generated $966 million in contract drilling revenues and a diluted EPS of $0.04, driven by strong operational performance.
Key Highlights
- Contract drilling revenues for the second quarter were $966 million, supported by a strong revenue efficiency of 97.0%.
- The company reported net income of $170 million, or $0.04 per diluted share, a significant improvement from a net loss of $938 million in the prior-year period.
- Transocean generated $212 million in free cash flow during the quarter, ending the period with total liquidity of over $1.3 billion.
- The company added $292 million in new contract backlog during the quarter at a weighted average dayrate of approximately $461,000.