Quarterly ResultMay 11, 2026, 04:12 PM
Seadrill Q1 Revenue $358M, Net Loss $(7)M; LPS $(0.11)
AI Summary
Seadrill reported a reduced net loss of $(7) million for the first quarter of 2026, an improvement from $(14) million in Q1 2025, with total operating revenues increasing to $358 million from $335 million. The company also provided updates on several ongoing legal proceedings, including an appeal against a $37 million judgment for SFL Hercules Ltd. and a $43 million payment made for the first tranche of damages related to the Sonadrill fees claim. Additionally, the letter of credit sub-limit under its Revolving Credit Facility was increased to $100 million.
Key Highlights
- Total operating revenues increased to $358 million in Q1 2026 from $335 million in Q1 2025.
- Net loss improved to $(7) million in Q1 2026 from $(14) million in Q1 2025.
- Basic Loss Per Share (LPS) was $(0.11) in Q1 2026, down from $(0.23) in Q1 2025.
- Operating profit rose to $24 million in Q1 2026 from $18 million in Q1 2025.
- Cash and cash equivalents decreased to $304 million as of March 31, 2026, from $339 million at December 31, 2025.
- The letter of credit sub-limit under the Revolving Credit Facility was increased from $50 million to $100 million on April 3, 2026.
- Seadrill paid $43 million for the first tranche of damages related to the Sonadrill fees claim.
- Income tax expense increased to $23 million in Q1 2026 from $15 million in Q1 2025.
Price Impact
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