Seadrill Reports Q3 2026 Results with Increased Full-Year Guidance and $3.3 Billion Backlog
Seadrill Limited (SDRL) reported third-quarter operating revenues of $428 million, a slight decrease from the previous quarter due to fewer operating days for certain rigs. Despite a net loss of $30 million—impacted by a legal provision—the company achieved an Adjusted EBITDA of $121 million and strong free cash flow of $179 million, bolstered by mobilization fees. The company demonstrated significant operational strength by raising its full-year revenue guidance to between $1.56 billion and $1.58 billion and increasing its Adjusted EBITDA outlook. With a contract backlog of $3.3 billion and over 85% of drillship availability for 2027 already booked, Seadrill is benefiting from rising average contractual dayrates, which climbed to $376,000 this quarter.
Tickers: $SDRL
Topics: contract backlog ebitda guidance net loss revenue share repurchases