Transocean reports Q3 adjusted EPS 6c, consensus 3c

Reports Q3 revenue $1.03B, consensus $1.01B. “In addition to delivering an outstanding quarter of operational performance and Free Cash Flow generation, we took decisive steps to accelerate debt reduction and improve our financial flexibility,” said CEO Keelan Adamson. “Along with meeting scheduled maturities, these transactions are expected to, respectively, reduce total debt by approximately $1.2B by the end of 2025; annual interest expense by approximately $83 million; and restricted cash by $52B. As a result, we have also significantly improved our debt maturity profile over the next several years and believe these actions will further enhance shareholder value.”