The world’s largest offshore drilling service provider, Transocean, reported a weak set of numbers for the June quarter 2016, owing to the continued weakness in the commodities market. While the company managed to beat the consensus expectations on revenue as well as earnings by a fair margin, depressed average dayrates and weak utilizations resulted in a sharp decline in its top and bottom line.
Transocean's Weak Dayrates And Utilization Weigh On Earnings As Contract Backlog Continues To Drop
Forbes - 5 Aug 2016 14:38
The world’s largest offshore drilling service provider, Transocean, reported a weak set of numbers for the June quarter 2016, owing to the continued weakness in the commodities market. While the company managed to beat the consensus expectations on revenue as well as earnings by a fair margin, depressed average dayrates and weak utilizations resulted in a sharp decline in its top and bottom line.
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