Transocean posts Q3 2026 profit, adds $2 bn to backlog and moves toward Valaris merger
Transocean Ltd. reported a net profit of $26 million, or $0.02 per diluted share, for the quarter ended September 30, 2026. Adjusted EBITDA reached $313 million, reflecting a margin of about 33.4%. The company added roughly $2 billion of new contract work, bringing total backlog to about $8 billion, and confirmed that the Valaris acquisition is expected to close on December 1, 2026.
Why it matters
The profit and cash flow generation improve the firm’s balance sheet and support debt reduction, while the larger backlog provides visibility for 2027 revenue. Completion of the Valaris deal is expected to create $200 million of annual synergies, according to the company.
Key facts
- 1Contract drilling revenues for Q3 2026 were $937 million. globenewswire.com
- 2Net cash from operating activities was $174 million; after $43 million of capex, free cash flow was $131 million. globenewswire.com
- 3Total liquidity at quarter end was $1.3 billion, including a $510 million undrawn revolving credit facility. globenewswire.com
- 4The company added $2.0 billion of contract backlog at an average dayrate of about $423,000. globenewswire.com
- 5Backlog as of November 2, 2026 was approximately $8.0 billion. globenewswire.com
- 6Valaris acquisition is expected to close on December 1, 2026, with $200 million of annual synergies targeted. globenewswire.com
Summary written by AlphAI AI Desk from 12 of 12 sources. Not investment advice. Figures are as stated by the linked sources.