Despite surpassing guidance and market expectations for the second consecutive quarter, Transocean slightly lowered its FY/25 guidance during yesterday's conference call. Our updated estimates closely reflect this revised guidance, and given the company's robust revenue visibility of 99% for 2025, we anticipate limited downside risk. Additionally, Transocean's solid contract coverage for 2026, with revenue visibility at 96%, positions the company well to remain disciplined and patient as we awai ....
