Seadrill Q2 revenue tops estimates on increased operating days - SDRL News | RalliesSeadrill Q2 revenue tops estimates on increased operating days
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SDRL• Outlook
- Seadrill raised its 2026 total operating revenue guidance to $1.50 billion-$1.55 billion, excluding $50 million reimbursables.
- The company lifted its 2026 adjusted EBITDA guidance to $420 million-$450 million.
- Seadrill maintained its 2026 capital expenditure and long-term maintenance guidance at $200 million-$240 million.
Overview
- Offshore drilling contractor's Q2 revenue rose, beating analyst expectations.
- Q2 adjusted EBITDA increased and beat analyst expectations.
- The company extended its share repurchase program and bought back $20 million in Q2.
Analyst coverage
- The current average analyst rating on the shares is buy, with 9 strong buy or buy ratings, 2 hold ratings and no sell or strong sell ratings.
- The average consensus recommendation for the oil and gas drilling peer group is .
buy
Wall Street's median 12-month price target for Seadrill Limited is $55.00, about 27.2% above its August 7 closing price of $43.24.The stock recently traded at 21 times the next 12-month earnings, versus a P/E of 35 three months ago.Result drivers and key details
- Higher operating days for West Jupiter and West Capella drove revenue growth.
- Improved dayrates across the fleet contributed to the revenue increase.
- Strong fleet utilization helped support operational performance, with economic utilization at 96%.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Operating Revenue | Beat | $449 million | $377.52 million (6 analysts) |
| Q2 EPS | | $0.47 | |
| Q2 Net Income | | $29 million | |
| Q2 Adjusted EBITDA | Beat | $144 million | $104.21 million (6 analysts) |
| Q2 Adjusted EBITDA Margin | | 33.50% | |
| Q2 Operating Profit | | $72 million | |
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