Transocean (RIG) Q4 Earnings Improve Y/Y, Sales Miss Estimates

Transocean, Inc. (RIG) reported an adjusted net loss of 9 cents per share in the fourth quarter of 2023. The figure was narrower than the Zacks Consensus Estimate of a loss of 22 cents per share. Moreover, RIG’s bottom line improved from the year-ago period’s reported loss of 49 cents. This improvement can be attributed to a strong fourth-quarter result from RIG's Ultra-deepwater floaters segment.The offshore drilling powerhouse’s total adjusted revenues of $741 million missed the Zacks Consensus Estimate o ...