Filing Flows › Transocean (RIG) › Q2 2026 › vs Q1 2026
Transocean (RIG) Q2 2026 vs Q1 2026 (quarter over quarter)
Transocean's revenue fell $115M (-11%) from $1.1B in Q1 2026 to $966M in Q2 2026. The biggest changes: Ultra-deepwater floaters −$125M (-17%); Harsh environment floaters +$10.0M (+3%). Operating margin 15.7% against 26.5% (-10.8 pts).
Transocean, Q2 2026: revenue $966M (-2% year over year), operating margin 15.7%, net earnings $170M, operating cash flow $236M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 15.7% | 26.5% | -10.8 pts |
| Net margin | 17.6% | 6.6% | +11.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Ultra-deepwater floaters | $623M | $748M | −$125M | -17% |
| Harsh environment floaters | $343M | $333M | $10.0M | +3% |
| Revenue | $966M | $1.1B | −$115M | -11% |
| Other income, net | $32.0M | −$270M | $302M | — |
| Operating profit | $152M | $287M | −$135M | -47% |
| Costs & expenses | $814M | $794M | $20.0M | +3% |
| Pre-tax earnings | $184M | $17.0M | $167M | +982% |
| Cost of revenue | $608M | $606M | $2.0M | +0.3% |
| General & admin | $56.0M | $49.0M | $7.0M | +14% |
| Other operating costs | $150M | $139M | $11.0M | +8% |
| Net earnings | $170M | $71.0M | $99.0M | +139% |
| Income tax | $14.0M | −$54.0M | $68.0M | — |
| Depreciation & amortization | $148M | $143M | $5.0M | +3% |
| Share-based compensation | $7.0M | $8.0M | −$1.0M | -12% |
| Working capital & other | $89.0M | $58.0M | $31.0M | +53% |
| Operating cash flow | $236M | $164M | $72.0M | +44% |
Questions
How much did Transocean's revenue grow quarter over quarter in Q2 2026?
Transocean's revenue fell $115M (-11%) from $1.1B in Q1 2026 to $966M in Q2 2026.
What drove Transocean's revenue change in Q2 2026?
Ultra-deepwater floaters −$125M (-17%); Harsh environment floaters +$10.0M (+3%).