Earnings ·
Reports Q3 net income of $26M and adds $2.0B in contract backlog
RIGTransocean Ltd.
Transocean reported third-quarter 2026 net income of $26 million, or $0.02 per diluted share, on contract drilling revenues of $937 million. Adjusted EBITDA was $313 million with a 33.4% margin, and free cash flow reached $131 million after $43 million in capital expenditures. The company added approximately $2.0 billion in new contract backlog at a weighted average dayrate of about $423,000, bringing total backlog to roughly $8.0 billion. Transocean also retired the remaining $200 million of debt associated with the Deepwater Aquila notes ahead of schedule and provided preliminary full-year 2026 revenue guidance of $3.90–$3.95 billion. The company operates in the offshore contract drilling services industry, specializing in ultra-deepwater and harsh environment oil and gas wells.