Transocean is an . The replay, which will be archived for approximately 30 days, can be accessed at +1 719-457-0820, passcode 9017399 and pin 5449. Transocean will conduct a teleconference starting at 9 a.m. EDT, 3 p.m. CEST, on Thursday, July 30, 2020, to discuss the results. Transocean's stock was trading at $1.36 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Business Ethics is designed to meet the scope and sequence requirements of the single-semester business ethics course. Transocean Ltd. RIG is set to release third-quarter 2020 results after the closing bell on Monday, Nov 2. Interest income was $6 million, compared with $4 million in the previous quarter. (1) Our estimates change as we file tax returns, settle disputes with tax authorities or become aware of other events and include changes in (a) deferred taxes, (b) valuation allowances on deferred taxes and (c) other tax liabilities. Transocean Limited (NYSE: RIG) Q2 2020 Earnings Conference Call July 30 . STEINHAUSEN, Switzerland, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the fourth quarter and full year of 2020, on Monday, February 22, 2021, following the close of trading on the NYSE. As a result, actual results could differ materially from those indicated in these forward-looking statements. Transocean, the U.S. market leader in offshore floating drilling rigs, has $7.1 billion in net debt, while its market value is just under $1 billion. View which stocks have been most impacted by COVID-19. Current and historical debt to equity ratio values for Transocean (RIG) over the last 10 years. -- Earnings Flash (RIG) TRANSOCEAN Reports Q4 Drilling Revenue $690M, vs. Street Est of $695.3M MT Newswires 02/22 16:19 ET Transocean Ltd. Reports Fourth Quarter and Full Year 2020 Results Additionally, the second quarter was favorably impacted by higher revenue efficiency, and an early termination fee of $21 million for Paul B. Loyd Jr., offset by lower revenues due to reductions in dayrates and a non-cash revenue reduction of $53 million, compared to $48 million in the prior quarter, from contract intangible amortization associated with the Songa and Ocean Rig acquisitions. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Supplemental materials that may be referenced during the teleconference will be available at: www.deepwater.com, by selecting Investors, Financial Reports. Operating and maintenance expense was $540 million, compared with $575 million in the prior quarter. This is paradoxical as the perceived invisibility of transportation is derived from its efficiency. Understanding how mobility is linked with geography is main the purpose of this book. The Effective Tax Rate excluding discrete items was (45.6)% compared to (15.0)% in previous quarter. Operating and maintenance expense was $525 million, compared with $540 million in the prior period; Net loss attributable to controlling interest was $497 million, Adjusted net loss was $1 million, excluding $496 million of net unfavorable items. 5 . Please check your download folder. Found inside â Page 127With more than $ 1 billion in contracted backlog , revenue visibility for Transocean's more sophisticated equipment remains strong . Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. in the annual effective tax rate from the previous quarter estimate. See the accompanying schedule entitled “Supplemental Effective Tax Rate Analysis.”. Interest expense, net of amounts capitalized, was $145 million, compared with $153 million, in the prior quarter. According to Transocean, its contract drilling revenues for 1Q 2021 decreased sequentially primarily due to the sale in the first . Operating and maintenance expense was $525 million, compared with $540 million in the prior quarter. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Net cash provided by (used in) operating activities were $87 million, compared to $(48) million in the prior quarter. About Transocean . Transocean is an . The Effective Tax Rate(2) was (7.0)%, down from (6.8)% in the prior quarter. TRANSOCEAN LTD. AND SUBSIDIARIES. As we approach the end of the year, we are growing increasingly encouraged by the contracting activity that could unfold in the second half of 2021. The decrease was primarily due to various discrete period tax items, including revenues recognized for settlement of disputes. Ladies and gentlemen, good day, and . Transocean entered 2020 with its fleet mostly contracted through the first half . Average Daily Revenue (1) 2021 : 2021 : 2020 : 2021 : 2020 . The sequential decrease was the result of lower in-service maintenance cost across our fleet, partially offset by $30 million of higher costs related to the COVID-19 pandemic. The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Adjustments to reconcile to net cash provided by operating activities: Loss on impairment of investment in unconsolidated affiliate, (Gain) loss on restructuring and retirement of debt, Changes in other operating assets and liabilities, net, Net cash provided by operating activities, Proceeds from maturities of unrestricted and restricted investments, Proceeds from issuance of debt, net of discounts and issue costs, Net decrease in unrestricted and restricted cash and cash equivalents, Unrestricted and restricted cash and cash equivalents, beginning of period, Unrestricted and restricted cash and cash equivalents, end of period, Net income (loss) attributable to controlling interest, as reported, Diluted earnings (loss) per share, as reported, Net loss attributable to controlling interest, as reported, Gain on terminated construction contracts, Gain on termination of construction contracts, Adjusted income (loss) before income taxes, Revenues recognized for the settlement of disputes, Adjusted loss before income taxes for determining effective tax rate. Found inside â Page 2... part of his earnings than that spent by the citizens in any other country. ... I find that Eggers' statement means that by the year 2020, the United ... . TRANSOCEAN LTD. AND SUBSIDIARIES: FLEET OPERATING STATISTICS: Three months ended : Six months ended: June 30, March 31, June 30, June 30, June 30, Contract Drilling Revenues (in millions) 2021: 2021: 2020: 2021: 2020: Contract drilling revenues: Ultra-deepwater floaters $ 424 $ 436 $ 636 $ 860 $ 1,164: Harsh environment floaters: 232: 217: 293 . Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean. The initial drilling program is expected to last approximately 255 days and result in approximately $80 million of contract drilling revenue. Please check your download folder. Transocean Q2 2020 Earnings Call Jul 30, 2020, 9:00 a.m. This book offers perspective and context for key decision points in structuring a CSOC, such as what capabilities to offer, how to architect large-scale data collection and analysis, and how to prepare the CSOC team for agile, threat-based ... This volume turns the spotlight on the neglected role of employees by analyzing many of the formal and informal ways that employees are actually involved in the governance of corporations, in U.S. firms and in large corporations in Germany ... Stable Share Price: RIG is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week. Transocean has 5,900 employees across 15 locations and $3.15 B in annual revenue in FY 2020. See the accompanying schedule entitled âRevenue Efficiency.â, Effective Tax Rate is defined as income tax expense divided by income before income taxes.
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