Transocean (NYSE: RIG) reported Q2 EPS of ($4.32), $4.23 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $751 million versus the consensus estimate of $711.97 million.

• Revenues were $751 million, compared with $785 million in the first quarter of 2017;
• Revenue efficiency(1) was 97.4 percent, compared with 97.8 percent in the first quarter of 2017;
• Operating and maintenance expense was $333 million, compared with $343 million in the prior period;
• Net loss attributable to controlling interest was $1.690 billion, $4.32 per diluted share, compared with net income attributable to controlling interest of $91 million, $0.23 per diluted share, in the first quarter of 2017;
• Adjusted net income was $1 million, excluding $1.691 billion of net unfavorable items primarily related to the previously announced $1.597 billion loss on the divestiture of the jackup fleet. This compares with $4 million, $0.01 per diluted share, in the prior quarter, excluding $87 million of net favorable items;
• Adjusted Normalized EBITDA margin was $347 million or 49 percent, compared with $361 million or 48 percent in the prior quarter;
• Cash flows from operating activities were $319 million, up from $184 million in the prior quarter;
• Repurchased an aggregate principal amount of debt of $1.343 billion, including cash tender offers of $1.212 billion and open market repurchases of $131 million primarily associated with near‑dated debt; and
• Contract backlog was $10.2 billion as of the July 2017 Fleet Status Report.

For earnings history and earnings-related data on Transocean (RIG) click here.