Quarterly ResultMay 11, 2026, 06:07 AM
Seadrill Q1 Net Loss $7M; Raises FY26 Revenue & EBITDA Guidance
AI Summary
Seadrill Limited announced its first quarter 2026 results, reporting a net loss of $7 million and Adjusted EBITDA of $97 million. The company secured over $860 million in new contract awards, increasing its Contract Backlog to $3.1 billion. Following these achievements, Seadrill raised its full-year 2026 guidance for Total operating revenues to $1.43 - $1.48 billion and Adjusted EBITDA to $370 - $420 million.
Key Highlights
- Reported Q1 2026 net loss of $7 million, an improvement from $10 million net loss in Q4 2025.
- Achieved Q1 2026 Adjusted EBITDA of $97 million, up from $88 million in Q4 2025.
- Secured over $860 million in new contract awards, increasing Contract Backlog to $3.1 billion.
- Increased full-year 2026 Total operating revenues guidance to $1.43 - $1.48 billion.
- Increased full-year 2026 Adjusted EBITDA guidance to $370 - $420 million.
- Q1 2026 Total operating revenues were $358 million, slightly down from $362 million in Q4 2025.
- Diluted loss per share for Q1 2026 was $0.11, an improvement from $0.16 in Q4 2025.