Noble Q3 net loss widens as rigs transition between contracts; company lowers FY revenue guidance
NE•Noble reported a third-quarter net loss of $117 million as rigs transitioned between contracts and lowered its 2026 revenue guidance to $2.85 billion-$2.9 billion. Revenue was $729 million, while adjusted EPS was a loss of $0.57; the company declared a $0.50-per-share fourth-quarter dividend.
1. Quarterly results
Noble reported third-quarter revenue of $729 million and a net loss of $117 million. Adjusted EPS was a loss of $0.57, compared with analyst expectations for earnings of $0.20. The company said results were affected by several rigs transitioning between contracts; both of its rigs in Brazil resumed operations during the quarter.
2. Guidance and contracts
Noble narrowed its 2026 revenue guidance to $2.85 billion-$2.9 billion, from $2.8 billion-$2.9 billion previously, and its adjusted EBITDA guidance to $850 million-$900 million, from $850 million-$925 million. It raised capital expenditure guidance to $680 million-$705 million, citing higher customer-reimbursable capital expenditures. The company secured about $560 million in new contract value since its last fleet status report.
3. Dividend
Noble declared a fourth-quarter dividend of $0.50 per share, maintaining its capital return program.
