Market Overview

Transocean Reports Q4 Earnings

Related RIG
30 Stocks Moving In Tuesday's Pre-Market Session
Jim Cramer Weighs In On Universal Display, Kinder Morgan And More
Diamond Offshore: Is This Best In Class OSD Still Cheap? (Seeking Alpha)

Transocean (NYSE: RIG) on Wednesday afternoon reported its fourth quarter and full year earnings. Shares of the largest offshore drilling fleet were down $0.61 per share or 1.42 percent in after-hours trading.

Below are some key takeaways from the earnings report:

• Revenue rose by a bit to $2.332 billion, which was up from $2.326 million a year ago;

• Aggregate fleet rig utilization was 75 percent in the quarter, which was compared to 83 percent in the third quarter. Some attribute weather situations to this;

• Transocean's net profit attributable to controlling interest fell to $233 million which is $.64 per share, from $456 million which is $1.26 per share, a year ago;

• Operating and maintenance expenses jumped quite a bit, as they were 1.532 billion in the fourth quarter, while they were $1.491 billion in the third quarter of 2013;

• Cash flows from operating activities skyrocketed up about $150 million or more than 20 percent to $773 million.

Posted-In: Earnings News Guidance


Related Articles (RIG)

View Comments and Join the Discussion!

Partner Center