Transocean Ltd. (RIG) experienced a significant after-hours decline of 7.70% following the release of its fourth quarter and full year 2025 financial results.

The offshore drilling contractor reported a net loss attributable to controlling interest of $2.915 billion, or $3.04 per diluted share, for the full year 2025. This result included substantial unfavorable items, primarily a $3.036 billion loss on impairment of assets. On an adjusted basis, which excludes these items, the company reported net income of $37 million, or $0.04 per diluted share.

Concurrently, Transocean issued its quarterly Fleet Status Report, detailing contract updates and reporting a total backlog of approximately $6.1 billion as of February 19, 2026. The market's reaction in the extended session appears focused on the headline net loss figure from the annual report.