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Compared to Estimates, Transocean (RIG) Q4 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, Transocean (RIG) Q4 Earnings: A Look at Key Metrics
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.