We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Transocean (RIG) Soars Past Earnings Estimates, Beats by $0.18
Read MoreHide Full Article
Transocean Ltd. (RIG - Free Report) just released its second quarter fiscal 2016 earnings results, posting diluted earnings of $0.17 per share and revenue of $943 million.
Currently, RIG has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Transocean:
Beat earnings estimates. The company posted diluted earnings of $0.17 per share, soaring past the Zacks Consensus Estimate of a loss of one cent. This number excludes 4 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $943 million, surpassing our consensus estimate of $914 million.
Reported adjusted net income of $64 million, while cash flows from operating activities were $207 million.
Saw operating and maintenance expenses of $500 million, down $665 million from the prior period.
RIG was up $0.15, or 1.44%, to $10.60 as of 4:58 PM ET in after-hours trading shortly after its earnings report was released.
"I am very pleased with the company's second quarter operating and financial results," said President and Chief Executive Officer Jeremy Thigpen. "Thanks to the continued focus and commitment of the entire Transocean team, we delivered excellent safety and uptime performance for our customers, resulting in 96.5 percent quarterly revenue efficiency. We also continued to improve our cost structure through the streamlining of both our organization and our processes."
Here’s a graph that looks at Transocean’s price, consensus, and EPS surprise:
Transocean Ltd is an international provider of offshore contract drilling services for oil and gas wells. The company offers deep-water and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services, as well as explores, develops, and produces oil and gas resources. The company is based in Houston, Texas.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Transocean (RIG) Soars Past Earnings Estimates, Beats by $0.18
Transocean Ltd. (RIG - Free Report) just released its second quarter fiscal 2016 earnings results, posting diluted earnings of $0.17 per share and revenue of $943 million.
Currently, RIG has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Transocean:
Beat earnings estimates. The company posted diluted earnings of $0.17 per share, soaring past the Zacks Consensus Estimate of a loss of one cent. This number excludes 4 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $943 million, surpassing our consensus estimate of $914 million.
Reported adjusted net income of $64 million, while cash flows from operating activities were $207 million.
Saw operating and maintenance expenses of $500 million, down $665 million from the prior period.
RIG was up $0.15, or 1.44%, to $10.60 as of 4:58 PM ET in after-hours trading shortly after its earnings report was released.
"I am very pleased with the company's second quarter operating and financial results," said President and Chief Executive Officer Jeremy Thigpen. "Thanks to the continued focus and commitment of the entire Transocean team, we delivered excellent safety and uptime performance for our customers, resulting in 96.5 percent quarterly revenue efficiency. We also continued to improve our cost structure through the streamlining of both our organization and our processes."
Here’s a graph that looks at Transocean’s price, consensus, and EPS surprise:
TRANSOCEAN LTD Price, Consensus and EPS Surprise
TRANSOCEAN LTD Price, Consensus and EPS Surprise | TRANSOCEAN LTD Quote
Transocean Ltd is an international provider of offshore contract drilling services for oil and gas wells. The company offers deep-water and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services, as well as explores, develops, and produces oil and gas resources. The company is based in Houston, Texas.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>