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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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.