Transocean (RIG) Q2 Revenue Jumps 15%
Transocean (NYSE:RIG), a leading offshore drilling contractor specializing in deepwater and harsh environment rigs, announced its earnings on August 4, 2025. The key news from this release was the company’s GAAP revenue of $988 million, beating expectations of $976.4 million, and an adjusted non-GAAP earnings per share of $0.00, topping the anticipated $(0.01) loss. Year over year, GAAP revenue increased by 14.8%, and adjusted EBITDA reached $344 million. However, the quarter was also marked by a large GAAP net loss due to significant asset impairment charges. Overall, the period demonstrated solid operational momentum and cost discipline, balanced by persistent challenges in asset values and backlog trends.
Source: Analyst estimates for the quarter provided by FactSet.
Transocean (NYSE:RIG) operates a fleet of offshore drilling rigs, providing services mainly to oil and gas companies seeking to access reserves beneath deep or challenging waters. Its rigs include ultra-deepwater floaters and harsh environment floaters, which can operate under extreme conditions in oceans around the world. The company’s core business revolves around leasing drilling time to major oil producers such as Shell, Petrobras, and Equinor.
Source Fool.com
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