Must-Know Highlights from Transocean’s Q2 2018 Results
Transocean (RIG) released its second-quarter results yesterday after the markets closed. The company earned revenue of $790 million—3.18% higher than Reuters’s analyst estimate of $75.6 million. Revenues were 11.1% higher year-over-year and 26% higher sequentially. Transocean’s revenue was supported by higher revenue efficiency and utilization for the company’s ultra-deepwater fleet. Revenue efficiency rose to 97.4% in Q2 2018, compared to 91.5% in the prior quarter.