Overview
Offshore drilling contractor's Q4 revenue rose, beating analyst expectations
Adjusted EPS for Q4 missed analyst expectations
Company completed divestiture of five jackups for $360 mln
Outlook
Noble forecasts 2026 revenue between $2,800 mln and $3,000 mln
Company expects 2026 adjusted EBITDA of $940 to $1,020 mln
Noble projects 2026 capital expenditures between $590 mln and $640 mln
Result Drivers
NEW CONTRACT AWARDS - Noble secured $1.3 bln in new contracts, boosting backlog to $7.5 bln
DIVESTITURE STRATEGY - Completed sale of five jackups for $360 mln to refine fleet focus
UTILIZATION CHANGES - Marketed jackup utilization improved to 68%, while floater utilization decreased
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $764 mln | $734.95 mln (8 Analysts) |
Q4 Adjusted EPS | Miss | $0.09 | $0.22 (6 Analysts) |
Q4 EPS | $0.54 | ||
Q4 Adjusted Net Income | Miss | $14 mln | $36.70 mln (4 Analysts) |
Q4 Net Income | $87 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas drilling peer group is "buy"
Wall Street's median 12-month price target for Noble Corporation PLC is $33.50, about 20.1% below its February 10 closing price of $41.93
The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 32 three months ago
Press Release: ID:nPn305ntwa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)