The call highlighted significant financial achievements, including notable debt reduction and operational efficiency. However, challenges such as slow contracting pace and potential idle time for some rigs were also discussed.

Company Guidance

During the Transocean Third Quarter 2025 Earnings Call, the company provided several key metrics and guidance updates. Transocean reported contract drilling revenues of $1.03 billion for the third quarter, with an average daily revenue of approximately $462,000. The company has made significant progress in reducing its debt, achieving a reduction of approximately $1.2 billion by the end of 2025, and anticipates a decrease in annualized interest expense by $87 million. For the fourth quarter of 2025, Transocean expects contract drilling revenues between $1.03 billion and $1.05 billion, and operating and maintenance expenses ranging from $595 million to $615 million. Looking ahead to 2026, the company forecasts contract drilling revenue to be between $3.8 billion and $3.95 billion, with operating and maintenance expenses between $2.275 billion and $2.4 billion. Additionally, Transocean expects its liquidity to be slightly more than $1.4 billion by the end of 2025. The company remains focused on strengthening its financial position and optimizing its capital structure through ongoing cost-saving initiatives and leveraging cash flow from operations to meet future obligations.

Debt Reduction and Interest Expense Savings

By the end of 2025, Transocean will have reduced its debt by approximately $1.2 billion versus scheduled maturities of $714 million. The company also reduced its annualized interest expense by approximately $87 million.

Strong Operational Performance

Transocean achieved a revenue efficiency of 97.5% for the entire third quarter, with September posting 100%.

Rig Contracting Success

BP exercised its 1-year $635,000 per day priced option for the Deepwater Atlas, contributing approximately $232 million in backlog.

Fleet Optimization

Transocean continues to refine its fleet, retiring older assets to maintain a portfolio of high-specification, marketable rigs.

Transocean (GB:0QOW) Earnings, Revenues Date & History

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GB:0QOW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 23, 2026	2025 (Q4)	0.08 / -	-0.09	―	―	―
Oct 29, 2025	2025 (Q3)	0.04 / 0.06	0.067	-10.45% (>-0.01)	―
Aug 04, 2025	2025 (Q2)	>-0.01 / 0.00	-0.15	―	―
Apr 28, 2025	2025 (Q1)	-0.11 / -0.10	-0.03	-233.33% (-0.07)	―
Feb 17, 2025	2024 (Q4)	<0.01 / -0.09	-0.09	0.00% (0.00)	―
Oct 30, 2024	2024 (Q3)	-0.04 / 0.07	-0.36	118.61% (+0.43)	―
Jul 31, 2024	2024 (Q2)	-0.11 / -0.15	-0.15	0.00% (0.00)	―
Apr 29, 2024	2024 (Q1)	-0.15 / -0.03	-0.38	92.11% (+0.35)	―
Feb 19, 2024	2023 (Q4)	-0.23 / -0.09	-0.49	81.63% (+0.40)	―
Oct 30, 2023	2023 (Q3)	-0.23 / -0.36	-0.06	-500.00% (-0.30)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:0QOW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2025	$3.81	$3.92	+2.94%
Aug 04, 2025	$2.76	$2.89	+4.67%
Apr 28, 2025	$2.31	$2.25	-2.43%
Feb 17, 2025	$3.51	$3.60	+2.31%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.