Seadrill (SDRL) reported Q3 earnings late Tuesday of $0.49 per diluted share, down from $1.10 a year earlier.

Three analysts in a Capital IQ poll expected EPS of $0.02.

Operating revenue in the quarter ended Sept. 30 fell to $354 million from $414 million a year earlier. Analysts surveyed by Capital IQ expected $322 million.

For full-year 2024, the company now expects operating revenue of $1.39 billion to $1.41 billion. It previously projected between $1.36 billion and $1.41 billion. Analysts are looking for $1.35 billion.