Noble Q2 FY26 turns to net loss of $37 million; revenue falls to $720 million

NE•2026-07-27

Q2 results turn to a net loss

Noble posts a GAAP Q2 net loss of $37 million, swinging from GAAP net income a year earlier; diluted loss per share was $0.23.

Revenue falls 15.19% year over year to $720 million; contract drilling services revenue drops 16.33% to $679 million.

Cash flow, backlog and guidance

Adjusted EBITDA declines 24.81% to $212 million; operating cash flow was $144 million, and free cash flow was negative $59 million.

The company added about $200 million of new contract value since April; backlog stands at $6.8 billion.

Noble cut full-year revenue guidance to $2.8 billion-$2.9 billion and lowered its adjusted EBITDA view to $850 million-$925 million; capex was left unchanged.

Noble Q2 FY26 turns to net loss of $37 million; revenue falls to $720 million

Q2 results turn to a net loss

Cash flow, backlog and guidance

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