Filing Flows › Transocean (RIG) › Q1 2025
Transocean (RIG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Transocean (RIG) reported revenue of $906M for the first quarter 2025 (Q1 2025), +19% from a year earlier and -5% from the quarter before. Operating margin was 7.1%, net loss $79.0M (8.7% of revenue).
Transocean, Q1 2025: revenue $906M (+19% year over year), operating margin 7.1%, net loss $79.0M, operating cash flow $26.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $906M | -5% | +19% |
| Operating profit | $64.0M | — | — |
| Net earnings | −$79.0M | — | — |
| Operating cash flow | $26.0M | -87% | — |
What changed
Revenue was $906.0M in Q1 2025, up 19% year over year and down 5% from the previous quarter. Ultra-deepwater floaters was the largest line at 73% of revenue. Ultra-deepwater floaters added $89.0M year over year (up 16%), 62% of the total change.
Operating profit was $64.0M, a 7.1% margin (up 7.5 points year over year). Total costs grew 10% against revenue growth of 19%. The fastest-growing cost line was Cost of revenue (+18%). The quarter ended with a net loss of $79.0M, after a profit of $7.0M the previous quarter. Net interest and other expense of $104.0M was the main reason.
Operating cash flow was $26.0M. Non-cash charges added back $176.0M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items used $79.0M. Capital expenditures of $60.0M exceeded it, leaving free cash flow of −$34.0M.
Questions
What was Transocean's revenue in the first quarter 2025?
Transocean (RIG) reported revenue of $906M for the first quarter 2025 (Q1 2025), +19% from a year earlier and -5% from the quarter before.
Was Transocean profitable in the first quarter 2025?
Operating profit was $64.0M (7.1% of revenue) and net loss $79.0M.
Source: Transocean 10-Q on SEC EDGAR.