Noble Corporation Reports Q3 2026 Results with $6.7 Billion Backlog and Tightening Full-Year Guidance
Noble Corporation (NE) reported third-quarter results characterized by a sequential decrease in Adjusted EBITDA to $201 million, driven primarily by rig transitions and fewer operating days for certain units. Despite the dip in earnings, the company maintains a robust total backlog of $6.7 billion as of late October 2026, supported by recent contract awards totaling $560 million. The company narrowed its full-year 2026 guidance for both Adjusted EBITDA and revenue, while increasing capital expenditure projections due to customer-reimbursable projects. While the U.S. Gulf remains a soft spot in demand, high-end tier-1 drillship day rates remain strong between $450,000 and $500,000, with marketed utilization for these units reaching 99%.
Topics: contract backlog dividend declaration earnings report EBITDA revenue guidance