Seadrill reports $30 million Q3 net loss on legal provision; raises 2026 guidance
Seadrill reported a third-quarter 2026 net loss of $30 million, or $0.49 per diluted share, compared with net income of $29 million in the second quarter. The company said the loss includes a legal provision booked in the third quarter. It also raised its full-year 2026 revenue and Adjusted EBITDA guidance, which matters to shareholders because it points to higher expected earnings for the year despite the quarter's loss.
Key points
- Net loss of $30 million for the quarter ended September 30, 2026, versus net income of $29 million in the quarter ended June 30, 2026; the loss includes a legal provision booked in the third quarter
- Total operating revenues were $428 million, down from $449 million in the prior quarter and up from $363 million a year earlier; Adjusted EBITDA was $121 million, down from $144 million
- Full-year 2026 total operating revenues guidance raised to $1.56 - $1.58 billion excluding $90 million of reimbursable revenues; Adjusted EBITDA guidance raised to $440 - $460 million
- Free Cash Flow of $179 million in the quarter; about $22 million of shares repurchased; contract backlog of about $3.3 billion as of November 3, 2026
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.