India, Nov. 2 -- Transocean Ltd. (RIG), an offshore contract drilling services provider specializing in ultra-deepwater and harsh-environment operations, reported a return to profitability in the third quarter of 2026, compared with a substantial loss in the prior-year quarter.
Third-quarter net income was $26 million, or $0.02 per share, compared with a net loss of $1.92 billion, or $2.00 per share, in the year-ago quarter.
The prior-year loss included a $1.91 billion impairment charge on assets.
Contract drilling revenues declined to $937 million from $1.03 billion a year earlier. Revenue efficiency was 96.8 percent, compared with 97.5 percent in the prior-year quarter.
For full-year 2026, Transocean expects contract drilling revenues...