For the quarter ended December 2023, Transocean (RIG - Free Report) reported revenue of $748 million, up 19.7% over the same period last year. EPS came in at -$0.09, compared to -$0.49 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $779.17 million, representing a surprise of -4.00%. The company delivered an EPS surprise of +59.09%, with the consensus EPS estimate being -$0.22.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Transocean performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Utilization - Total fleet average rig utilization: 51.6% versus the three-analyst average estimate of 57.2%.
- Utilization - Ultra-Deepwater Floaters: 46.8% versus the three-analyst average estimate of 52.8%.
- Average Daily Revenue - Harsh Environment Floaters: $354.7 thousand versus the three-analyst average estimate of $352.34 thousand.
- Average Daily Revenue - Total fleet average daily revenue: $407.8 thousand compared to the $391.73 thousand average estimate based on three analysts.
- Average Daily Revenue - Ultra Deepwater Floaters: $432.1 thousand versus the three-analyst average estimate of $414.57 thousand.
- Utilization - Harsh Environment Floaters: 66.7% versus the three-analyst average estimate of 69.9%.
- Contract drilling revenues- Ultra-Deepwater Floaters: $536 million compared to the $559.98 million average estimate based on three analysts. The reported number represents a change of +23.5% year over year.
- Contract drilling revenues- Harsh Environment Floaters: $205 million versus $201.19 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +19.2% change.
View all Key Company Metrics for Transocean here>>>Shares of Transocean have returned -9.8% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended December 2023, Transocean (RIG - Free Report) reported revenue of $748 million, up 19.7% over the same period last year. EPS came in at -$0.09, compared to -$0.49 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $779.17 million, representing a surprise of -4.00%. The company delivered an EPS surprise of +59.09%, with the consensus EPS estimate being -$0.22.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Transocean performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Utilization - Total fleet average rig utilization: 51.6% versus the three-analyst average estimate of 57.2%.
- Utilization - Ultra-Deepwater Floaters: 46.8% versus the three-analyst average estimate of 52.8%.
- Average Daily Revenue - Harsh Environment Floaters: $354.7 thousand versus the three-analyst average estimate of $352.34 thousand.
- Average Daily Revenue - Total fleet average daily revenue: $407.8 thousand compared to the $391.73 thousand average estimate based on three analysts.
- Average Daily Revenue - Ultra Deepwater Floaters: $432.1 thousand versus the three-analyst average estimate of $414.57 thousand.
- Utilization - Harsh Environment Floaters: 66.7% versus the three-analyst average estimate of 69.9%.
- Contract drilling revenues- Ultra-Deepwater Floaters: $536 million compared to the $559.98 million average estimate based on three analysts. The reported number represents a change of +23.5% year over year.
- Contract drilling revenues- Harsh Environment Floaters: $205 million versus $201.19 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +19.2% change.
View all Key Company Metrics for Transocean here>>>Shares of Transocean have returned -9.8% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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