Earnings Releases·Oct 26, 2026, 5:03 PM ET

Noble Corporation plc — Third Quarter 2026 Earnings Summary

Q3 2026 revenue declined 8.7% year-over-year to $729 million but rose 1.3% sequentially to $720 million; net loss widened to $(117) million (vs. $(21) million YoY and $(37) million QoQ), while adjusted EBITDA fell 20.8% YoY to $201 million and 5.2% QoQ to $212 million.
Full-year 2026 guidance was narrowed for revenue ($2,850-$2,900 million) and adjusted EBITDA ($850-$900 million), while capital expenditure guidance increased to $680-$705 million primarily due to higher customer reimbursable costs.
Fleet utilization improved sequentially across all segments (total marketed rigs to 70%, floaters to 66%, ultra-harsh jackups to 86%), with backlog reaching $6.7 billion and recent awards adding 44 months of floater and 26 months of jackup capacity.
Management anticipates a meaningful inflection in fleet utilization and cash flow in the second half of 2027, supported by contracted capacity expected to be 20% higher in H2 2027 versus H1 2027.
The Board declared a Q4 2026 interim cash dividend of $0.50 per share; meanwhile, the sale of the Noble Resolve was finalized for $45 million, with the Noble Globetrotter II sale expected to close in Q4 2026 for $38 million.