Transocean Ltd. (RIG) reported Thursday higher profit in its fourth quarter, benefited by increased revenues. On a per share basis, the firm turned to a profit from last year's loss. Further, the company issued outlook, expecting lower revenues in fiscal 2026.
In the overnight trading, the shares were losing around 2 percent, after closing Thursday's regular trading 2.3 percent higher at $6.36.
The company's net income attributable to controlling interest was $25 million, compared to $7 million in the prior-year quarter. Earnings per share were $0.02, compared to a loss of $0.11 per share a year earlier.
Adjusted net income for the quarter was $21 million, compared to $27 million in the prior-year period. Adjusted earnings per share were $0.02, compared to a loss of $0.09 per share a year earlier.
Adjusted EBITDA, a key performance metric for the oilfield services industry, was $385 million, up from $323 million in the same quarter of the previous year. The company's adjusted EBITDA margin improved to 36.8 percent from 33.9 percent a year ago.
Contract drilling revenues, the primary source of the company's business, increased to $1.04 billion in the fourth quarter from $952 million in the prior-year period.
Looking ahead, the company provided guidance for the first quarter of 2023, expecting contract drilling revenues between $1.02 billion and $1.05 billion.
For the full year 2023, the company expects contract drilling revenues in the range of $3.80 billion to $3.95 billion. In fiscal 2025, contract drilling revenues were $3.97 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.