Seadrill Limited (SDRL)
NYSE:SDRL
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Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.24Last Year’s EPS
-0.68Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial trajectory: Seadrill reported an EBITDA beat, added substantial backlog (~$860M), completed key projects ahead of schedule and raised full-year revenue and EBITDA guidance. Near-term cash was impacted by expected reactivation and reacceptance spending, and some fleet white space and client-funded reactivation constraints remain. Management emphasized a focused path to free cash flow generation beginning mid-2026, supported by expected lump-sum mobilizations (~$70M) and conversion of rigs to market day rates.Company Guidance
EBITDA Beat and Sequential Improvement
Reported adjusted EBITDA of $97 million in Q1 2026, a sequential increase of $9 million (approximately +10% quarter-on-quarter), driven by early contract commencements, higher economic utilization and timing of operating expenditures.
Revenue and Utilization Strength
Contract drilling revenues of $277 million, up $4 million QoQ (≈+1.5%), supported by more operating days and higher day rates for West Vela and increased fleet uptime; overall strong economic utilization reported.
Significant Backlog Additions
Added approximately $860 million of backlog since the last call, including new contracts for West Neptune and West Vela (~$260 million each), a 7-well option exercised for Sangon-Kingyoa (committed to mid-2028), and a 3-year extension for West Polaris with Petrobras.
Operational Execution and Project Delivery
Completed West Tellus reacceptance and West Capella reactivation ahead of schedule and on budget, enabling earlier start-ups and revenue generation; West Jupiter also commenced its new Petrobras contract in late March.
Raised Full-Year Guidance
Updated 2026 guidance upward: operating revenues now $1.43 billion to $1.48 billion (excludes $50 million reimbursables) and EBITDA increased to $370 million to $420 million; CapEx guidance maintained at $200 million to $240 million.
Imminent Cash Receipts and Liquidity
Expect approximately $70 million of lump-sum mobilization receipts from Petrobras over the next two quarters tied to reacceptance projects; ended Q1 with total cash of $329 million and access to total liquidity of about $482 million including revolver capacity.
Path to Free Cash Flow
Management reiterated focus on free cash flow conversion and expects meaningful free cash flow generation starting in mid-2026 as rigs move from legacy to market day rates and lump-sum mobilizations are received.
SDRL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SDRL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $48.32 | $49.96 | +3.39% |
Feb 25, 2026 | $45.22 | $43.26 | -4.33% |
Nov 05, 2025 | $30.89 | $29.02 | -6.05% |
Aug 06, 2025 | $29.64 | $28.17 | -4.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Seadrill Limited (SDRL) report earnings?
Seadrill Limited (SDRL) is schdueled to report earning on Aug 05, 2026, Before Open (Confirmed).
What is Seadrill Limited (SDRL) earnings time?
Seadrill Limited (SDRL) earnings time is at Aug 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SDRL EPS forecast?
SDRL EPS forecast for the fiscal quarter 2026 (Q2) is 0.24.