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 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.