Transocean (RIG) reported a Q2 adjusted earnings late Wednesday of $0.03 per diluted share, up from breakeven a year earlier.

Analysts polled by FactSet expected $0.01.

Contract drilling revenue for the quarter ended June 30 was $966 million, down from $988 million a year earlier.

Analysts surveyed by FactSet expected $956.6 million.

For Q3, the company expects contract drilling revenue of $920 million to $960 million. Analysts expect $893.1 million.

The company now expects 2026 contract drilling revenue of $3.90 billion to $3.98 billion, compared with $3.80 billion to $3.90 billion expected earlier. Analysts expect $3.83 billion.