Transocean reports Q2 EPS (22c), consensus (14c)

Reports Q2 revenue $729M, consensus $729.72M. “During the Q2, we continued to benefit from increased demand for our fleet of high-specification floaters. As of our latest fleet status report, we secured an additional $1.2B of backlog at a weighted average dayrate of approximately $456,000,” said CEO, Jeremy Thigpen. “As evidenced by our customers contracting rigs well in advance of their programs and committing to long-term contracts, the outlook for our high-specification assets and services remains robust.” Thigpen concluded, “In addition to securing contracts at market-leading rates, our focus remains on the flawless execution of our offshore operations to maximize the value of our $9.2B backlog for our shareholders.”