Filing Flows › Transocean (RIG) › Q3 2025
Transocean (RIG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Transocean (RIG) reported revenue of $1.0B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +4% from the quarter before. Operating margin was -163.1%, net loss $1.9B (187.1% of revenue).
Transocean, Q3 2025: revenue $1.0B (+8% year over year), operating margin -163.1%, net loss $1.9B, operating cash flow $246M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +4% | +8% |
| Operating profit | −$1.7B | — | — |
| Net earnings | −$1.9B | — | — |
| Operating cash flow | $246M | +92% | +27% |
| Free cash flow | $235M | — | — |
What changed
Revenue was $1.0B in Q3 2025, up 8% year over year and up 4% from the previous quarter. Ultra-deepwater floaters was the largest line at 68% of revenue. Harsh environment floaters added $0.05B year over year (up 19%), 65% of the total change.
Operating costs exceeded revenue by $1.7B, an operating margin of -163.1%. Total costs grew 89% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+152%). The quarter ended with a net loss of $1.9B, wider than the previous quarter's $0.94B loss.
Operating cash flow was $0.25B (up 27% year over year). Non-cash charges added back $0.16B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $2.0B. After capital expenditures ($0.01B), free cash flow as the company reports it was $0.23B.
Questions
What was Transocean's revenue in the third quarter 2025?
Transocean (RIG) reported revenue of $1.0B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +4% from the quarter before.
Was Transocean profitable in the third quarter 2025?
Operating loss was $1.7B (-163.1% of revenue) and net loss $1.9B.
Source: Transocean 10-Q on SEC EDGAR.