Transocean, which owns the world's largest fleet of offshore drilling rigs, is expected to earn 60 cents per share for the quarter, according to analysts surveyed by Thomson Reuters. The company posted earnings of $1.25 per share in the same period last year.
Revenue for the first quarter is expected to come in at $1.9 billion, also lower compared to the $2.3 billion Transocean reported a year ago.
Switzerland-based Transocean is an international provider of offshore contract drilling services for oil and gas wells, operating under the contract drilling services and drilling management services segments.
Separately, TheStreet Ratings team rates TRANSOCEAN LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRANSOCEAN LTD (RIG) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: