Seadrill raised its revenue and EBITDA guidance for fiscal 2026, citing a contract backlog of $2.9 billion. In its third-quarter results, revenue was $428 million, beating expectations by $48.03 million, or 13.16%. However, it reported a GAAP loss of $0.49 per share, missing analyst estimates by $0.62, amid challenges from rising operating costs.
Net loss was $30 million in the third quarter, while operating revenue fell from the previous quarter as some rigs logged fewer operating days.
Read the full storyThe company was scheduled to report third-quarter results after the New York Stock Exchange closed on November 3, with a conference call to discuss them the following day.
The revision came on August 10 after second-quarter results improved, while the backlog stood at $2.9 billion ahead of the third-quarter results announcement on November 3.