latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/transocean-widens-adjusted-net-loss-for-q4-19-57150600 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Transocean widens adjusted net loss for Q4'19

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020


Transocean widens adjusted net loss for Q4'19

Transocean Ltd. on Feb. 17 reported an adjusted net loss of $263 million, or a loss of 43 cents per share, for the fourth quarter of 2019, compared with a loss of $171 million, or a loss of 34 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the fourth quarter of 2019 was a loss of 30 cents per share.

GAAP net loss for the fourth quarter of 2019 was $51 million, versus a loss of $242 million in the same quarter a year earlier.

The company's contract drilling revenues for the fourth quarter of 2019 was $792 million, up from $748 million in the same year-ago period.

Total drilling fleet utilization for the fourth quarter of 2019 dropped slightly to 61%, from 62% in the same quarter a year ago. The average daily revenue posted for the quarter was $317,700, an increase from $293,100 in the same year-ago period.

For full year 2019, Transocean reported an adjusted net loss of $887 million, or a loss of $1.45 per share, compared with a loss of $369 million, or a loss of 79 cents per share, in 2018. The S&P Global Market Intelligence consensus normalized earnings estimate for the full year of 2019 was a loss of $1.26 per share.

GAAP net loss for the full year 2019 came in at $1.26 billion, versus a loss of $2.00 billion in 2018. Transocean's contract drilling revenues for the full year clocked in at $3.09 billion, an increase from $3.02 billion a year ago.

Total drilling fleet utilization for 2019 decreased to 58%, from 59% in 2018. Meanwhile, the average daily revenue for 2019 hit $313,400, up from $296,200 a year earlier.