SDRL
Seadrill Limited30.13
-1.86-5.81%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Day rates to exceed $400s soon
Q&A reinforced the upbeat market call but added punch: management sees day rates topping low $400s soon, maybe 2026, as tenders proliferate and supply tightens. Rigs like West Neptune and Vela could shift from US Gulf to Africa or Asia if economics demand it. Consolidation tempts, yet Seadrill pledges discipline, eyeing only strategic fits post-fleet optimization. Stacked rigs await customer cash for reactivation. Petrobras blend-and-extends simmer outside guidance; buybacks beckon after midyear cash inflection. Rates will climb. Watch tender conversions for 2027 visibility.
Key Stats
Market Cap
1.88BP/E (TTM)
64.11Basic EPS (TTM)
0.47Dividend Yield
0%Recent Filings
10-K
FY2025 results
Seadrill's FY2025 revenues climbed 4% to $1.4B, with contract revenues up 8% to $1.1B on 10 rigs averaging $326K/day (derived) at 90% utilization, versus nine rigs at $296K/day and 95% in FY2024; Brazil drove 43% of topline via West Auriga/Polaris ramps, yet Q4 momentum softened as West Phoenix/Capella stacked, unplanned downtime hit 10%, and impairments dinged $22M on West Eclipse. Operating profit cratered 89% to $47M amid $55M opex surge from Brazil activations, offset by no FY2025 buybacks after $527M in FY2024. Debt steady at $625M (2030s maturities), liquidity $524M. $2.4B backlog secures 86% FY2026 coverage. Oil price volatility threatens demand.
8-K
Q4 results, $0.5B contracts
Seadrill reported Q4 2025 net loss of $10 million and full-year loss of $77 million, with Adjusted EBITDA at $88 million and $353 million, respectively. Secured $0.5 billion in new contracts across seven rigs, boosting backlog to $2.5 billion. Guides 2026 revenues to $1.40-$1.45 billion, Adjusted EBITDA $350-$400 million. Backlog builds strength.
10-Q
Q3 FY2025 results
Seadrill's 10-Q for Q3 ended September 30, 2025 lacks financial statements, so key metrics like revenue, EPS, cash flow, and debt remain undisclosed. No topline growth, margins, or y/y deltas can be assessed from the filing. Balance sheets and cash flow details are absent. Liquidity and segment drivers not provided. No M&A or non-GAAP reconciliations appear. Competition pressures rig rates.
8-K
Q3 loss, $300M contracts
Seadrill reported Q3 2025 net loss of $11 million and Adjusted EBITDA of $86 million, down from prior quarter amid lower utilization. Yet it secured over $300 million in contracts across five rigs, boosting backlog to $2.5 billion. Backlog builds coverage. Full-year guidance narrowed: operating revenue $1,360-$1,390 million, Adjusted EBITDA $330-$360 million.
8-K
Executive salary increases approved
Seadrill Limited's board approved base salary increases for key executives effective September 15, 2025, including $465,000 for CFO Grant Creed and $440,000 each for Chief Commercial Officer Samir Ali and Chief Technology & Sustainability Officer Torsten Sauer-Petersen, whose role expanded on August 27, 2025. These adjustments reflect evolving responsibilities amid the offshore drilling sector's demands. No other compensatory changes disclosed. Executives earn more now.
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