Earnings Releases·Nov 3, 2026, 4:15 PM ET

Seadrill Limited — Third Quarter 2026 Earnings Summary

Q3 2026 total operating revenues declined to $428 million from $449 million in Q2, while the company reported a net loss of $30 million compared to a $29 million net income in the prior quarter, driven by a legal provision; adjusted EBITDA fell to $121 million from $144 million.
Full-year 2026 guidance was raised, with total operating revenues increased to $1.56–$1.58 billion and adjusted EBITDA raised to $440–$460 million, while capital expenditure guidance narrowed to $210–$230 million.
Strategic momentum remains strong with over 85% of 2027 drillship days contracted and a backlog of approximately $3.3 billion as of November 3, 2026, following $800 million in new awards and extensions including the West Carina repricing and long-term commitments in Angola and Malaysia.
Strong liquidity and capital return were highlighted with $179 million in free cash flow, a net debt position of $244 million, and $22 million in share repurchases during the quarter.