Transocean Ltd. Earnings: Here’s Why the Stock is Falling Now
Transocean Ltd. (NYSE:RIG) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.92%.
Transocean Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 69.09% to $0.93 in the quarter versus EPS of $0.55 in the year-earlier quarter.
Revenue: Decreased 5.75% to $2.2 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Transocean Ltd. reported adjusted EPS income of $0.93 per share. By that measure, the company missed the mean analyst estimate of $1. It missed the average revenue estimate of $2.36 billion.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…