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.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.