Transocean Ltd. (RIG)

[Mother Lode]

looks like they have finally turned the corner.
Top and bottom-line beat

Transocean (RIG) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.36 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this offshore oil and gas drilling contractor would post a loss of $0.08 per share when it actually produced a loss of $0.15, delivering a surprise of -87.50%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Transocean , which belongs to the Zacks Oil and Gas - Drilling industry, posted revenues of $948 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.26%. This compares to year-ago revenues of $721 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Transocean shares have lost about 38.3% since the beginning of the year versus the S&P 500's gain of 22.3%.

https://finance.yahoo.com/news/transocean-rig-reports-break-even-220511254.html

Conference call today at 9:00 AM