Seadrill Limited · NYSE:SDRL
Seadrill — Q3 2026 Earnings Presentation
9 slides from Seadrill's earnings presentation, Nov 4, 2026
Slide 1: Third Quarter 2026 Earnings Presentation
Third Quarter 2026 Earnings Presentation November 2026
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS: This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts inclu
Slide 3: Third Quarter 2026: Highlights
Third Quarter 2026: Highlights Increased full-year 2026 Total Operating Revenue and Adjusted EBITDA guidance Secured contract awards and extensions in Indonesia, Malaysia, Angola, and the U.S. Gulf, 1 adding ~$800 million of Total Contract Value 2 Generated $179 million of Free Cash Flow Opportunist
Slide 4: Third Quarter 2026: Financial Results
Third Quarter 2026: Financial Results Total Operating Revenues $428m 2Q26: $449m 1Q26: $358m 4Q25: $362m 1 Adjusted EBITDA $121m 2Q26: $144m 1Q26: $97m 4Q25: $88m 2 CapEx and LTM $56m 2Q26: $57m 1Q26: $51m 4Q25: $69m (1) For a definition and a reconciliation to the most comparable GAAP measure, refe
Slide 5: Seadrill Full-Year 2026: Improved Guidance
Seadrill Full-Year 2026: Improved Guidance Total Operating Revenues 1 $1.56b – 1.58b Prior Guidance: $1.50b - $1.55b 2 Adjusted EBITDA $440m – 460m Prior Guidance: $420m - $450m 3 CapEx and LTM $210m - 230m Prior Guidance: $200m - $240m (1) Total Operating Revenues excludes approximately $90 million
Slide 6: Fleet Status Report
Fleet Status Report 1 Firm contract Priced option period Out-of-service time Contract preparation 2026 2027 2028 Rig Name Location O N D J F M A M J J A S O N D J F M A M J J A S O N D Sevan Louisiana U.S. Gulf Active Rig Count by Location West Gemini Angola West Neptune U.S. Gulf 1 West Saturn Braz
Slide 7: Appendix 1: Reconciliation to GAAP Measures
Appendix 1: Reconciliation to GAAP Measures Reconciliation of Net loss/(income) to Adjusted EBITDA (unaudited) Three months ended Twelve months ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2026 (In $ millions) Net (loss)/income (30) 29 (7) (10) (18) Depreciat
Slide 8: Appendix 2: Reconciliation to GAAP Measures
Appendix 2: Reconciliation to GAAP Measures Reconciliation of Net Debt (Unaudited) As Of (In $ millions, except for Net September 30, 2026 Leverage) Gross principal debt 750 Cash and cash equivalents 483 Net Debt 267 Net Leverage 0.6 Reconciliation of Net cash provided by/(used in) operating activit
Slide 9: Seadnill
Seadnill