RIG PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

RIG ▲ 0.00% at T+20d

NEUTRAL call ✗ call lost 0.00% · α vs SPY -4.95% · entry $6.25 → $6.25

Next anchor: T+60d in 6w

Last close $6.04 (close Jun 12) · -3.36% from $6.25 entry

Entry anchored
May 4, 03:59 PM ET
via Databento tick

T+1d

0.00%

call 0.00% · α -1.38%

$6.25

settled 6w ago

T+5d

+4.80%

call +4.80% · α +2.82%

$6.55

settled 5w ago

T+20d

0.00%

call 0.00% · α -4.95%

$6.25

settled 13d ago

T+60d

—

call — · α —

—

in 6w

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Executive Summary

Transocean reported Q1 2026 revenue of $1.08B (beat consensus $1.03B) but GAAP EPS of $0.06 missed consensus of $0.08. Adjusted EBITDA margin exceeded 40% and the company added $1.6B in backlog, while Q2 revenue guidance of $930-970M implies a sequential decline. The mixed quarter reflects strong operational execution offset by a miss on earnings and softer near-term outlook.

Key Financial Metrics

Guidance

$930M - $970M (Q2); $3.8B - $3.9B (FY)

maintained

Free Cash Flow

$136.0M

Actionable Insight

Monitor Q2 2026 revenue guidance trajectory and whether the sequential decline is seasonal or signals weakening demand; the $1.6B backlog addition supports long-term revenue visibility but near-term headwinds from lower Q2 guidance may pressure the stock. Watch for updates on the proposed Valaris merger.

Key Facts

Q1 2026 revenue $1.081B vs consensus $1.03B (+4.9% beat)
GAAP diluted EPS $0.06 vs consensus $0.08 (-25% miss)
Adjusted EBITDA $440M with 40.7% margin
Net cash from operations $164M; free cash flow $136M
Retired $358M of 8.375% Senior Secured Notes due 2028
Added $1.6B in contract backlog; total backlog $7.1B
Q2 2026 revenue guidance $930-970M (midpoint ~12% below Q1)
Total liquidity $1.125B at quarter-end

Financial Impact

Revenue beat by ~$51M, EPS miss by $0.02, Q2 guidance ~$100M below Q1 run-rate

revenueepsbacklogdebt

Risk Factors

Q2 revenue guidance implies material sequential decline
EPS miss highlights higher interest expense and debt retirement costs
Oil price volatility could impact offshore drilling demand
Debt maturity profile: $329M due within one year

Market Snapshot

Exchange

NYSE

Sector

Drilling Oil & Gas Wells

Analyst Consensus

39% bullish (18 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3287226

9 reports for RIG

T+1T+5T+20T+60

100% Hit rate 6 of 6 directional calls best @ T+1▲ +6.46%Apr 16, 2026

Filters

Reports for RIG — sortable, filterable
	Type				Now
May 26, 2026 19d ago	8-K NEUTRAL ★ 3/10	$6.18 $6.25	▲ +1.13%	▼ −0.07%	$6.04 (−2.27%)
May 19, 2026 26d ago	DEFA14A NEUTRAL ★ 4/10	$7.34 $6.22	▼ −15.26%	▼ −17.06%	$6.04 (−17.71%)
May 4, 2026 5w ago	8-K BULLISH ★ 7/10	$6.25 $6.55	▲ +4.80%	▲ +2.82%	$6.04 (−3.36%)
May 4, 2026 5w ago	Press Release MIXED ★ 5/10	$6.25 $6.55	▲ +4.80%	▲ +2.82%	$6.04 (−3.36%)
May 4, 2026 5w ago	Press Release BULLISH ★ 7/10	$6.25 $6.55	▲ +4.80%	▲ +2.82%	$6.04 (−3.36%)
Apr 16, 2026 8w ago	8-K BULLISH ★ 6/10	$6.35 $6.06	▼ −4.57%	▼ −5.55%	$6.04 (−4.88%)
Apr 16, 2026 8w ago	Press Release BEARISH ★ 7/10	$6.35 $6.06	▲ +4.57%	▲ +5.55%	$6.04 (+4.88%)
Apr 14, 2026 8w ago	8-K BULLISH ★ 7/10	$6.17 $6.05	▼ −1.94%	▼ −3.34%	$6.04 (−2.11%)
Apr 2, 2026 10w ago	8-K BULLISH ★ 7/10	$6.59 $6.52	▼ −1.06%	▼ −4.68%	$6.04 (−8.35%)

US Market Status

Market Closed — Opens in 5h 15m

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