Transocean (NYSE: RIG) reported earnings on March 1. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Transocean missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew.

Margins grew across the board.

Revenue details
 Transocean reported revenue of $2.28 billion. The 24 analysts polled by S&P Capital IQ foresaw a top line of $2.37 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.91. The 29 earnings estimates compiled by S&P Capital IQ forecast $0.80 per share. Non-GAAP EPS of $0.91 for Q4 were 296% higher than the prior-year quarter's $0.23 per share. (The prior-year quarter included $0.08 per share in earnings from discontinued operations.) GAAP EPS were $1.26 for Q4 versus -$18.60 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 38.2%, 280 basis points better than the prior-year quarter. Operating margin was 23.4%, 620 basis points better than the prior-year quarter. Net margin was 19.6%, much better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $2.44 billion. On the bottom line, the average EPS estimate is $1.07.

Next year's average estimate for revenue is $10.09 billion. The average EPS estimate is $4.71.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Transocean is outperform, with an average price target of $59.24.

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