Seadrill (SDRL) reported a Q4 loss late Wednesday of $0.16 per diluted share, swinging from earnings of $1.54 a year earlier.

Analysts polled by FactSet expected EPS of $0.05.

Operating revenue in the quarter ended Dec. 31 rose to $362 million from $289 million a year earlier.

Analysts surveyed by FactSet expected $337.5 million.

For 2026, the company expects operating revenue of $1.40 billion to $1.45 billion, excluding $50 million of reimbursable revenue.