Transocean Ltd. (RIG) Form 8-K — Nov 2, 2026
Transocean reported Q3 2026 results with contract drilling revenues of $937 million, net income of $26 million ($0.02 per diluted share), and Adjusted EBITDA of $313 million, a 33.4% margin. The company generated $131 million of free cash flow and retired the remaining $200 million of Deepwater Aquila notes ahead of schedule, cutting total debt principal to $4,975 million. Since its August fleet status report, Transocean added nine fixtures worth roughly $2.0 billion in incremental backlog at a weighted average dayrate of about $423,000, lifting total backlog to approximately $8.0 billion and 2027 contract coverage to about 95%.
Key figures
- Eps
- 0.02
- Revenue
- 937000000
- Guidance
- 4Q26 contract drilling revenues $915-965M; FY26 $3,900-3,950M; preliminary FY27 $3,850-4,000M; FY26 total liquidity ~$1.3B; FY27 liquidity $1.5-1.7B
- Net Income
- 26000000
- Total Debt
- 4975000000
- Revenue Yoy
- -91 million vs Q3 2025
- Total Assets
- 15068000000
- Cash Position
- 499000000
- Net debt
- 4191000000
- Debt retired
- $200 million Deepwater Aquila notes retired ahead of schedule
- Total liquidity
- $1.3 billion
- Contract backlog
- $8.0 billion
- Fleet utilization
- 74.7%
- Free cash flow q3
- 131000000
- New backlog added
- $2.0 billion
- Valaris synergies
- $200 million annual identified synergies
- Adjusted ebitda q3
- 313000000
- Net debt to ebitda
- 2.9x
- Revenue efficiency
- 96.8%
- New backload dayrate
- about $423,000
- Adjusted ebitda margin
- 33.4%
- Operating cash flow q3
- 174000000
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.