Seadrill reports Q3 GAAP EPS (17c) vs. 49c last year

Reports Q1 revenue $363M, consensus $343.6M. Adjusted EBITDA was $86M vs. $106M in the prior quarter. “We continue to execute our strategy to build backlog coverage through 2025 and 2026, minimizing our exposure to contract gaps. Our commercial team secured over $300 million in new contracts across five rigs, including all three assets in the Sonadrill joint venture in Angola, reaffirming our position as a leading operator in the region. The awards in the U.S. Gulf demonstrate Seadrill’s (SDRL) continued ability to collaborate with customers, leverage advanced technology, and deliver operational excellence,” said President and CEO Simon Johnson. “As industry fundamentals improve and global tendering activity accelerates, Seadrill remains well positioned to create shareholder value and support long-term demand for energy services through a disciplined commercial strategy that drives sustainable growth.”