Transocean swings to Q3 2026 net income of $26 million from year-earlier loss
RIG•Transocean reported third-quarter 2026 net income of $26 million, compared with a loss a year earlier, as contract drilling revenue fell 9% to $937 million. New awards added about $2 billion to backlog, which totaled about $8 billion as of November 2; the Valaris acquisition is expected to close December 1, with $200 million in identified annual synergies.
1. Quarterly results and backlog
Transocean swung to third-quarter 2026 net income of $26 million from a year-earlier loss, while contract drilling revenues fell 9% year over year to $937 million. New awards added approximately $2 billion in contract backlog, bringing the total to approximately $8 billion as of November 2, 2026. The Valaris acquisition is expected to close December 1, with $200 million in identified annual synergies.
