Transocean beats by $0.58, beats on revs :
- Reports Q4 (Dec) earnings of $0.63 per share, excluding $13 million of net unfavorable items, $0.58 better than the Capital IQ Consensus of $0.05; revenues fell 47.4% year/year to $974 mln vs the $806.53 mln Capital IQ Consensus.
- Revenue efficiency was 100.3%, compared with 100.7% in the third quarter of 2016
- Contract backlog was $11.3 billion as of the February 2017 Fleet Status Report.
- Co's commentary on outlook:
- "Looking forward, improving market fundamentals along with a steady flow of customer inquiries are increasing our confidence that the offshore drilling market trough is near."
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