# Offshore drilling company financial performance > Developing situation record from CLSTR: https://clstr.news/situations/offshore-drilling-company-financial-performance > Updated: 2026-11-04T21:59:13.000Z. Sources: 4. Developments: 2. Offshore drilling contractors Transocean and Seadrill reported varying financial outcomes for the third quarter of 2026. Transocean reported revenue of $937 million, representing an 8.9 percent year-on-year decline that missed analyst estimates. The company also reported an adjusted loss per share of $0, missing non-GAAP earnings expectations of $0.02. Management cited lower customer activity in certain regions as a factor, though the company maintained a 98 percent fleet uptime and a contract backlog of nearly $2 billion. Transocean is also managing transaction costs from its pending acquisition of Valaris. Seadrill reported a widening net loss of $30 million for the quarter, compared to an $11 million loss during the same period in 2025. The company noted this loss included the impact of an unspecified legal provision. However, Seadrill reported operating revenues of $428 million, up from $363 million in Q3 2025, and generated $179 million in free cashflow. The company has secured new contracts in Indonesia, Malaysia, Angola, and the United States Gulf, with over 85 percent of available drillship days contracted for 2027. ## Timeline ### 2026-11-04: Shipping companies report record earnings amid strong market conditions International Seaways, Dorian LPG, and Navigator Gas reported strong third-quarter 2026 earnings, fueled by high market rates and profitable vessel sales. 2 sources. https://clstr.news/cluster/shipping-companies-report-record-earnings-amid-strong-market-conditions ### 2026-11-03: Offshore drilling companies report mixed Q3 2026 financial results Transocean and Seadrill reported mixed Q3 2026 results, with Transocean missing revenue targets and Seadrill seeing its net loss widen to $30 million despite strong free cashflow. 3 sources. https://clstr.news/cluster/offshore-drilling-companies-report-mixed-q3-2026-financial-results --- Cite as: Offshore drilling company financial performance. CLSTR, https://clstr.news/situations/offshore-drilling-company-financial-performance