Transocean Takes Big Asset Writedown, but Sets the Stage for Something Big
Transocean's (NYSE: RIG) $1.69 billion loss this past quarter was certainly eye-catching. Sure, the market for offshore rigs isn't great, but it isn't that bad. As has been the case in so many prior quarters, this number is nowhere near the complete picture, as almost all of that loss relates to a one-time event.
Let's go digging around in Transocean's most recent earnings report to figure out what happened, find out whether it should concern investors, and see what is in store.
Image source: Getty Images.
Source: Fool.com
