Stock Track | Transocean Soars Over 6% on Stellar Q3 Earnings, Solid Backlog

Stock Track10-31

Shares of Transocean Ltd. (NYSE: RIG), a leading offshore drilling contractor, surged over 6% in early trading on Wednesday, fueled by the company's impressive third-quarter 2024 earnings report and upbeat outlook.

For the quarter ended September 30, Transocean reported revenue of $948 million, exceeding analysts' consensus estimate of $943.83 million. Notably, the company delivered adjusted earnings per share of $0.00, defying expectations of a $0.04 loss per share. This remarkable performance was driven by robust demand for Transocean's high-specification rigs and efficient operations.

Transocean's CEO, Jeremy Thigpen, highlighted the company's unique capabilities and superior operational performance as key factors driving customer demand. The company's backlog stood at a solid $9.3 billion as of October 2024, providing clear visibility into future demand. Thigpen noted that with over 97% of Transocean's active fleet contracted in 2025, customers recognize the value the company's rigs, crews, and superior operational performance add to their programs.

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(NYSE: RIG), a leading offshore drilling contractor, surged over 6% in early trading on Wednesday, fueled by the company's impressive third-quarter 2024 earnings report and ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RIG","symbol_name":"Transocean Ltd.","start_time":0,"source_url":"","article_id":"1170678307","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1170678307","pubTimestamp":1730382613,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Transocean Ltd. , a leading offshore drilling contractor, surged over 6% in early trading on Wednesday, fueled by the company's impressive third-quarter 2024 earnings report and upbeat outlook.For the quarter ended September 30, Transocean reported revenue of $948 million, exceeding analysts' consensus estimate of $943.83 million. 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