Transocean Q3 Adj EPS $(0.36) Misses $(0.23) Estimate, Sales $713.00M Miss $722.57M Estimate
Portfolio Pulse from Benzinga Newsdesk
Transocean (NYSE:RIG) reported Q3 adjusted losses of $(0.36) per share, missing the analyst consensus estimate of $(0.23) by 56.52%. This is a 500% increase in losses from the same period last year. The company also reported quarterly sales of $713.00 million, missing the analyst consensus estimate of $722.57 million by 1.32%. However, this is a 3.18% increase over sales of $691.00 million the same period last year.
October 30, 2023 | 9:45 pm
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NEGATIVE IMPACT
Transocean's Q3 results missed estimates, with a significant increase in losses compared to the same period last year. Sales also missed estimates, but showed a slight increase year over year.
Transocean's Q3 results missed both earnings and sales estimates, which is likely to negatively impact investor sentiment and potentially the stock price in the short term. The significant increase in losses compared to the same period last year is particularly concerning. However, the slight increase in sales year over year may provide some offsetting positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100