Transocean Ltd. (NYSE:RIG) is included among the 10 Best Energy Stocks to Buy Under $20 According to Billionaires.
Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells
Transocean Ltd. (NYSE:RIG) slid after reporting its Q1 2026 results on May 4, with the company’s adjusted loss per share of $0.03 falling short of estimates by $0.11. However, the company’s revenue grew by over 19% YoY to $1.08 billion and managed to top expectations by $50 million. Transocean Ltd. (NYSE:RIG) logged an average daily revenue of $476,000 in the first quarter, the highest in over a decade.
Moreover, the company generated a free cash flow of $136 million, compared to a negative free cash flow of $34 million in the same period last year. Notably, Transocean managed to add $1.6 billion of new contracts and contract extensions on five rigs during the quarter, taking its total backlog to over $7 billion. Transocean Ltd. (NYSE:RIG) reduced the upper end of its full-year 2026 revenue range by $50 million to $3.9 billion.