Seadrill Revenue Estimated at $383.76 Million Ahead of Quarterly Results
Key Facts
Attention is turning to Seadrill’s third-quarter 2026 results after Investing.com estimates put revenue at $383.76 million and earnings per share at $0.172 ahead of the announcement. The company said it would release its results on Tuesday, November 3, after trading on the New York Stock Exchange closed, followed by a conference call to discuss them on Wednesday, November 4, at 08:00 Central U.S. time, or 15:00 Central European Time. The expected figures follow a second quarter in which Seadrill reported total operating revenue of $449 million and net income of $29 million, with diluted earnings per share of $0.47. The stock closed at $47.73 on November 2, according to EL7 data. Revenue and earnings-per-share estimates remain pre-announcement forecasts, while the company’s announced schedule is the next milestone for investors.
In the third quarter of 2025, the company reported operating revenue of $363 million, against a net loss of $11 million and diluted loss per share of $0.17. Those prior results provide a basis for year-on-year comparison when third-quarter 2026 figures are released, while results for the second quarter of this year showed a return to positive net income of $29 million. Seadrill said higher operating days for the West Jupiter and West Capella rigs, along with an improved average dayrate across the fleet, supported second-quarter revenue. This partly offset lower operating days for West Tellus. Chief Executive Officer Samir Ali said when the second-quarter results were announced: "We achieved 96% economic utilization, and demand for our high-specification fleet continues to improve."
In August, Seadrill raised its 2026 operating revenue guidance to a range of $1.50 billion to $1.55 billion, excluding $50 million in reimbursable revenue. It also raised its Adjusted EBITDA forecast to a range of $420 million to $450 million. The revised guidance was part of the second-quarter results announcement, which showed operating revenue of $449 million, providing important context for assessing third-quarter performance and any potential update to the annual outlook. At the end of the second quarter, gross principal debt was $750 million, while cash and restricted cash totaled $360 million, resulting in net debt of $390 million. These figures offer a snapshot of debt and liquidity levels ahead of the new results.
In October, the company recorded a contract for West Carina in Indonesia worth approximately $420 million, with an estimated base term of 880 days and priced options for an additional period of up to 880 days. In the same month, it announced an extension of West Capella’s work in Malaysia; priced options added 120 days and approximately $41 million, with a further 120 days through unpriced options carrying a contract value of approximately $53 million. The company expected West Capella’s work to continue through February 2028. These announcements followed Seadrill’s statement that demand for its high-specification fleet continued to improve and that economic utilization reached 96% in the second quarter. Management is scheduled to discuss the third-quarter results on a conference call on November 4, at 08:00 Central U.S. time and 15:00 Central European Time.