Noble Corporation PLC Class A ( (NE) ) has released its Q1 earnings. Here is a breakdown of the information Noble Corporation PLC Class A presented to its investors.
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Noble Corporation PLC is a prominent offshore drilling contractor in the oil and gas sector, known for its modern and versatile fleet that operates in ultra-deepwater and high-specification jackup drilling opportunities worldwide.
In its first quarter of 2025 earnings report, Noble Corporation announced a substantial increase in its contract backlog, reaching $7.5 billion, alongside new contract awards totaling 15 rig years and potential revenue of $2.2 to $2.7 billion. The company maintained its quarterly cash dividend at $0.50 per share, returning approximately $100 million to shareholders in the first quarter.
Key financial highlights for the first quarter include a net income of $108 million, with diluted earnings per share at $0.67 and adjusted EBITDA reaching $338 million. The company also reported net cash provided by operating activities of $271 million and free cash flow of $173 million. Noble’s fleet utilization improved, with 80% of its marketed floaters contracted, and the company secured significant new contracts with major players like Shell and TotalEnergies.
Looking ahead, Noble Corporation maintains its 2025 guidance, with expectations for total revenue between $3,250 to $3,450 million and adjusted EBITDA in the range of $1,050 to $1,150 million. The company remains focused on delivering efficient operations, building strategic backlog, and optimizing costs to enhance shareholder returns.