Filing Flows › Transocean (RIG) › Q2 2026
Transocean (RIG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Transocean (RIG) reported revenue of $966M for the second quarter 2026 (Q2 2026), -2% from a year earlier and -11% from the quarter before. Operating margin was 15.7%, net earnings $170M (17.6% of revenue).
Transocean, Q2 2026: revenue $966M (-2% year over year), operating margin 15.7%, net earnings $170M, operating cash flow $236M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $966M | -11% | -2% |
| Operating profit | $152M | -47% | — |
| Net earnings | $170M | +139% | — |
| Operating cash flow | $236M | +44% | +84% |
| Free cash flow | $212M | — | — |
What changed
Revenue was $966.0M in Q2 2026, down 2% year over year and down 11% from the previous quarter. Ultra-deepwater floaters was the largest line at 64% of revenue. Ultra-deepwater floaters lost $76.0M year over year (down 11%), 345% of the total change.
Operating profit was $152.0M, a 15.7% margin (up 113.3 points year over year). Total costs fell 58% while revenue fell 2%. The fastest-growing cost line was General & admin (+14%). Net earnings were $170.0M. The effective tax rate was 7.6%.
Operating cash flow was $236.0M (up 84% year over year), 139% of net earnings. Non-cash charges added back $148.0M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items used $89.0M. After capital expenditures ($24.0M), free cash flow as the company reports it was $212.0M.
Questions
What was Transocean's revenue in the second quarter 2026?
Transocean (RIG) reported revenue of $966M for the second quarter 2026 (Q2 2026), -2% from a year earlier and -11% from the quarter before.
Was Transocean profitable in the second quarter 2026?
Operating profit was $152M (15.7% of revenue) and net earnings $170M.
Source: Transocean 10-Q on SEC EDGAR.