Noble Corporation (85V1) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 04, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.22

Last Year’s EPS

0.22

Same Quarter Last Year

Analyst Consensus

Hold

Based on 8 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 11, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveys a fundamentally constructive and confident outlook driven by meaningful backlog growth, strong full-year 2025 financials, disciplined capital recycling, and targeted fleet reinvestment that underpin management's visibility to a substantial earnings and free cash flow inflection in 2027 (~$1.3B EBITDA and ~$600M FCF run-rate). Offsetting this optimism are clear near-term headwinds: lower 2025 Brent prices (-15% YoY), soft dayrates and present utilization gaps (82% present vs 95% contracted), elevated 2026 CapEx tied to strategic projects, Petrobras-related contract uncertainty in Brazil, and potential one-off cash exposures (e.g., up to $85M BOP lease buyout). On balance, the positive operational momentum, backlog quality, commercial wins, and capital allocation actions outweigh the near-term macro and timing challenges, but the recovery is contingent on market execution and demand crystallizing into 2026–2027.

Company Guidance

Noble guided 2026 revenue of $2.8–3.0 billion (including ~ $150 million of reimbursables) and adjusted EBITDA of $940–1,020 million, with Q1 EBITDA expected roughly flat to Q4 2025 and a modestly higher weighting in H2; they forecast total 2026 CapEx of $590–640 million (including roughly half of the $160 million Great White project, ~ $25 million of customer‑reimbursable CapEx, and ~ $50 million of additional project CapEx tied to recent $1.3 billion awards), cash taxes of ~11–12% of adjusted EBITDA, a favorable working capital reduction of ~ $100 million, and note a potential BOP lease buyout of up to $85 million (not in CapEx guidance). The company reported a $7.5 billion backlog (≈ $2.3 billion to convert in the remainder of 2026 and year‑two backlog slightly larger than 2026), ended Q4 2025 with revenue of $705 million, adjusted EBITDA of $232 million (30% margin), Q4 cash from operations $187 million and free cash flow $35 million, and FY2025 results of $3.3 billion revenue, $1.1 billion adjusted EBITDA, $497 million net CapEx and $454 million free cash flow. Looking through 2027, management illustrated a run‑rate scenario (13 of 15 tier‑one drillships working plus D‑rig contributions) of roughly $1.3 billion EBITDA and about $600 million free cash flow, and expects go‑forward sustaining CapEx to trend to the high $300s–$400 million range (excluding remaining Great White spend).

Strong Q4 and Full-Year Financial Results

Q4 contract drilling services revenue of $705,000,000, adjusted EBITDA of $232,000,000 and adjusted EBITDA margin of 30%. Q4 cash flow from operations was $187,000,000, CapEx was $152,000,000, and Q4 free cash flow was $35,000,000. Full-year 2025 revenue was $3,300,000,000 with adjusted EBITDA of $1,100,000,000 and full-year free cash flow of $454,000,000.

Backlog Growth and Bookings

Backlog increased to $7,500,000,000. Management highlighted ~30% year-over-year backlog growth (noted relative to a 15% YoY decline in Brent). Approximately $2,300,000,000 of backlog is scheduled to convert to revenue in the remainder of 2026, and year-two backlog currently exceeds prompt year backlog.

Material Commercial Wins

Key contract awards include: Noble Great White three-year contract in Norway with Aker BP valued at $473,000,000 (includes mobilization) with anticipated project EBITDA potential of ~$240,000,000 over three years; Noble Johnny D’Souza two-year contract in Nigeria valued at $292,000,000; Noble Developer three-well BP contract (Trinidad) at a $375,000/day dayrate starting in early 2027; Noble Black Rhino awarded one firm workover (~50 days) plus one option well in the U.S. Gulf. Additional multi-well awards and extensions across South America and Southeast Asia expand booked rig years.

Fleet Strategy and Capital Recycling

Completed sale of five jackups to Borr Drilling for $360,000,000 (cash proceeds $210,000,000 plus $150,000,000 seller note) and expected $64,000,000 sale of Noble Resolve (close in Q3). Strategic focus sharpened toward high-end deepwater and CJ70 jackup market, and planned reactivation and upgrade investments (e.g., Great White) to enhance NAV and capability.

Forward-Year Visibility and 2027 Run-Rate Goal

2026 guidance: revenue $2,800,000,000–$3,000,000,000 and adjusted EBITDA $940,000,000–$1,020,000,000. Management envisions a 2027 run-rate of ~ $1,300,000,000 in EBITDA and ~ $600,000,000 in free cash flow assuming 13 of 15 tier-one drillships working at current market rates and contribution from all three D rigs.

Maintained Shareholder Returns

Returned $80,000,000 to shareholders in Q4 via $0.50 per share dividend; board declared a $0.50 per share dividend for the current quarter, signaling continued capital return commitment.

Market Recovery Indicators

Contracted UDW rig count recovered to 105 from a recent low of 97 (+8 rigs, ~8.2% increase) and is approaching the 2024 high of 107. Marketed contracted utilization is 95% (with present working rigs at 90 representing an 82% present marketed utilization), and management noted improving demand pockets across South America, West Africa, Mediterranean/Black Sea, and Asia Pacific (Asia Pacific contracted rigs up from 4 to 8).

Noble Corporation (DE:85V1) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:85V1 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 04, 2026	2026 (Q1)	0.22 / -	0.22	―	―	―
Feb 11, 2026	2025 (Q4)	0.15 / 0.08	0.475	-83.93% (-0.40)
Oct 27, 2025	2025 (Q3)	0.22 / 0.16	0.339	-52.50% (-0.18)
Aug 05, 2025	2025 (Q2)	0.40 / 0.11	0.61	-81.94% (-0.50)
Apr 28, 2025	2025 (Q1)	0.38 / 0.22	0.382	-42.22% (-0.16)
Feb 17, 2025	2024 (Q4)	0.56 / 0.47	0.873	-45.63% (-0.40)
Nov 05, 2024	2024 (Q3)	0.68 / 0.34	0.738	-54.02% (-0.40)
Jul 31, 2024	2024 (Q2)	0.54 / 0.61	0.322	89.47% (+0.29)
May 06, 2024	2024 (Q1)	0.46 / 0.38	0.161	136.84% (+0.22)
Feb 22, 2024	2023 (Q4)	0.51 / 0.87	0.348	151.22% (+0.53)

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

DE:85V1 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 11, 2026	€35.05	€35.25	+0.57%
Oct 27, 2025	€25.72	€25.04	-2.67%
Aug 05, 2025	€21.60	€22.18	+2.69%
Apr 28, 2025	€17.49	€18.78	+7.38%

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 Noble Corporation PLC (DE:85V1) report earnings?

Noble Corporation PLC (DE:85V1) is schdueled to report earning on May 04, 2026, After Close (Confirmed).

What is Noble Corporation PLC (DE:85V1) earnings time?

Noble Corporation PLC (DE:85V1) earnings time is at May 04, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is the P/E ratio of Noble Corporation PLC stock?

The P/E ratio of Noble Corporation is N/A.

What is DE:85V1 EPS forecast?

DE:85V1 EPS forecast for the fiscal quarter 2026 (Q1) is 0.22.