Transocean Q2 2024 Adj. EPS $(0.15) Misses $(0.10) Estimate, Sales $861.000M Miss $862.593M Estimate
Portfolio Pulse from Benzinga Newsdesk
Transocean (NYSE:RIG) reported Q2 2024 adjusted EPS of $(0.15), missing the $(0.10) estimate. Sales were $861 million, slightly below the $862.593 million estimate but up 18.11% year-over-year.
July 31, 2024 | 9:19 pm
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NEGATIVE IMPACT
Transocean's Q2 2024 earnings report showed a larger-than-expected loss per share and slightly missed revenue estimates. Despite the revenue miss, sales increased significantly year-over-year.
The larger-than-expected loss per share and slight revenue miss are likely to negatively impact Transocean's stock price in the short term. However, the significant year-over-year sales growth may mitigate some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100