Transocean Earnings: Here’s Why the Stock is Up Now

Transocean Ltd. (NYSE:RIG) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.19%.

Transocean Ltd. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 50% to $1.08 in the quarter versus EPS of $0.72 in the year-earlier quarter.

Revenue: Decreased 6.91% to $2.4 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Transocean Ltd. reported adjusted EPS income of $1.08 per share. By that measure, the company met the mean analyst estimate of $1.08. It missed the average revenue estimate of $2.4 billion.

Key Stats (on next page)…

Revenue increased 9.1% from $2.2 billion in the previous quarter. EPS increased 16.13% from $0.93 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.25 to a profit $1.18. For the current year, the average estimate has moved down from a profit of $4.62 to a profit of $4.32 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]