RIG - Transocean Ltd. (RIG) Q1 2024 Earnings Call Transcript
2024-04-30 13:11:09 ET
Transocean Ltd. (RIG)
Q1 2024 Earnings Conference Call
April 30, 2024 09:00 AM ET
Company Participants
Alison Johnson - Director, IR
Jeremy Thigpen - CEO
Keelan Adamson - President and COO
Mark Mey - EVP and CFO
Roddie Mackenzie - EVP and CCO
Conference Call Participants
Kurt Hallead - Benchmark
Eddie Kim - Barclays
Doug Becker - Capital One
Fredrik Stene - Clarkson Securities
Arun Jayaram - JPMorgan
David Smith - Pickering Energy Partners
Presentation
Operator
Good day, everyone, and welcome to today's Q1 2024 Transocean’s Earnings Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions] Please note, this call is being recorded and I’ll be standing by if you should need any assistance.
It is now my pleasure to turn the conference over to Alison Johnson, Director of Investor Relations.
Alison Johnson
Thank you, Shelby. Good morning and welcome to Transocean’s first quarter 2024 earnings conference call. A copy of our press release covering financial results, along with supporting statements and schedules, including reconciliations and disclosures regarding non-GAAP financial measures, are posted on our website at deepwater.com.
Joining me on this morning’s call are Jeremy Thigpen, Chief Executive Officer; Keelan Adamson, President and Chief Operating Officer; Mark Mey, Executive Vice President and Chief Financial Officer; and Roddie Mackenzie, Executive Vice President and Chief Commercial Officer.
During the course of this call, Transocean management may make certain forward-looking statements regarding various matters related to our business and company that are not historical facts. Such statements are based upon current expectations and certain assumptions and therefore, are subject to certain risks and uncertainties. Many factors could cause actual results to differ materially. Please refer to our SEC filings for our forward-looking statements and for more information regarding certain risks and uncertainties that could impact future results. Also, please note that the company undertakes no duty to update or revise forward-looking statements.
Following Jeremy, Keelan and Mark’s prepared comments, we will conduct a question-and-answer session with our team. During this time, to give more participants an opportunity to speak, please limit yourself to one initial question and one follow-up. Thank you very much.
I’ll now turn the call over to Jeremy.
Jeremy Thigpen
Thank you, Alison, and welcome to our employees, customers, investors and analysts participating on today's call. As reported in yesterday's earnings release, for the first quarter, Transocean delivered adjusted EBITDA of $199 million on $767 million of adjusted contract drilling revenues, resulting in an adjusted EBITDA margin of approximately 26%....
Transocean Ltd. (RIG) Q1 2024 Earnings Call Transcript