Transocean reports Q1 adjusted EPS (3c), consensus 8c

Reports Q1 revenue $1.08B, consensus $1.03B. As of May 4, 2026, the total backlog is approximately $7.1B. “The Transocean (RIG) team delivered exceptional performance to start the year,” said Keelan Adamson, President and CEO. “During the quarter, we executed new or extended contracts on five rigs increasing our total backlog to $7.1B which, reflecting demand for our differentiated assets, contains an implied average dayrate of over $450,000. We also exceeded our revenue expectations for the quarter and achieved a strong adjusted EBITDA margin above 40%. We continued to enhance our financial flexibility by accelerating debt retirement, reducing interest expense and simplifying our balance sheet.”