Lower Impairments Augment Transocean’s 1Q’16 Earnings; Contract Backlog Continues To Decline
Transocean (NYSE:RIG), an international offshore drilling service provider, reported an improvement in its earnings on a year-on-year basis, despite the ongoing commodity slump. This was largely due to lower impairment charges compared to the same quarter last year. Operationally, it was a tough quarter for the company, as it experienced a notable decline in most of its operational metrics, particularly contract backlog and rig utilization. As a result, the Swiss company continued to witness a drop in its revenue both annually as well as sequentially.
Have more questions about Transocean (NYSE:RIG)? See the links below:
- Plummeting Commodity Prices Likely To Pull Down Transocean’s 1Q’16 Results
- How Is Transocean’s Contract Backlog Correlated To Crude Oil Prices?
- How Will Transocean’s Revenue Move If Crude Oil Prices Average At $50 Per Barrel In 2018?
- How Will Transocean’s Revenue Move If Crude Oil Prices Rebound To $100 Per Barrel By 2018?
- How Has Transocean’s Revenue And EBITDA Changed Over The Last 5 Years?
- How Has Transocean’s Revenue And EBITDA Composition Changed Between 2010 And 2015?
- What Was Transocean’s Revenue And EBITDA Composition In 2015?
- Transocean’s Earnings Suffer Due To Weak Drilling Demand; Diminishing Backlog Likely To Cause Further Damage
- What To Expect From Transocean’s 2015 Financial Results?
- How Will Transocean Weather The Lull In The Offshore Rig Market?
- How Are Transocean’s Key Metrics Expected To Trend?
- Key Takeaways From Transocean’s Q4 Results
- What To Watch As Transocean Reports Q4 Results
- What’s The Outlook Like For Transocean In 2019?
- What’s Transocean’s Outlook Like After Solid Q3?
Notes:
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2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Transocean
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