Seadrill Announces Third Quarter 2026 Results
Seadrill reported Q3 2026 revenue of $428 million, up 18% year-over-year but down from $449 million sequentially, with a net loss of $30 million including a legal provision and Adjusted EBITDA of $121 million versus $144 million in Q2. Cash generation was strong: $195 million of operating cash flow and $179 million of free cash flow, and the company repurchased roughly $22 million of shares in the quarter. The company raised and narrowed FY2026 guidance, increasing revenue to $1.56-$1.58 billion and Adjusted EBITDA to $440-$460 million, and secured roughly $800 million in new contract awards including a $420 million West Carina deal in Indonesia.
Key figures
- Revenue
- 428000000
- Guidance
- FY2026 Total operating revenues raised to $1.56-$1.58B excluding $90M Reimbursable revenues (from $1.50-$1.55B); Adjusted EBITDA raised to $440-$460M (from $420-$450M); capex/maintenance narrowed to $210-$230M
- Revenue Yoy
- 18%
- Net debt
- 244000000
- Gross debt
- 750000000
- Free cash flow
- 179000000
- Adjusted ebitda
- 121000000
- Average dayrate
- $376 thousand
- Contract backlog
- 3300000000
- New contract tcv
- 800000000
- Share buyback q3
- 22000000
- Cash and restricted
- 506000000
- Operating cash flow
- 195000000
- Economic utilization
- 94.5%
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