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Transocean: 2Q Earnings Snapshot

July 29, 2019

STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $208 million in its second quarter.

On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 34 cents.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.

The offshore oil and gas drilling contractor posted revenue of $758 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $773.9 million.

Transocean shares have declined 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Monday, shares hit $5.37, a fall of 58% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIG at https://www.zacks.com/ap/RIG

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