Overview
Noble Q3 revenue beats analyst expectations
Co's adjusted EPS misses estimates
Company reports Q3 net loss of $21 mln, down from prior quarter
Noble announces $0.50 per share dividend for Q4
Outlook
Noble narrows 2025 revenue guidance to $3,225-$3,275 mln
Company expects 2025 adjusted EBITDA of $1,100-$1,125 mln
Capital expenditures for 2025 expected at $425-$450 mln
Result Drivers
RIG UTILIZATION - Contract drilling services revenue decreased due to lower rig utilization, which fell to 65% in Q3 from 73% in the prior quarter
CONTRACT BACKLOG - Noble secured $740 mln in new contracts, increasing backlog to $7 bln
OPERATIONAL PERFORMANCE - CEO highlights solid operational performance and cash flow generation in Q3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $798 mln | $774.98 mln (8 Analysts) |
Q3 Adjusted EPS | Miss | $0.19 | $0.30 (6 Analysts) |
Q3 EPS | -$0.13 | ||
Q3 Adjusted Net Income | Miss | $30 mln | $48.57 mln (4 Analysts) |
Q3 Net Income | -$21 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "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 $32.00, about 4.5% above its October 24 closing price of $30.56
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nPnbWb1wDa
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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.)