NYSE$SDRL
Seadrill Ltd · Q4 2025 earnings
Q4 2025 earnings · · After market close
Briefing
Seadrill Ltd Q4 2025 Earnings Report
Seadrill reported a net loss of $10 million for the fourth quarter of 2025, with total operating revenues of $362 million. Despite the net loss, the company achieved an Adjusted EBITDA of $88 million and significantly strengthened its contract backlog to $2.5 billion through several new awards and extensions in key deepwater markets.
- Secured $0.5 billion in new contract awards during the quarter, bringing total backlog to $2.5 billion.
- Reported Adjusted EBITDA of $88 million with an improved margin of 25.4% excluding reimbursables.
- Maintained a strong liquidity position with $365 million in cash and cash equivalents at year-end.
- Announced positive 2026 guidance with expected total operating revenues between $1.40 billion and $1.45 billion.
Headline financials
Revenue & EPS history
Seadrill Ltd · Revenue · Quarterly
$362M
Forward guidance
Seadrill provided full year 2026 guidance reflecting a position of strength and increasing multi-year visibility.
Tailwinds
- Total operating revenues expected between $1.40 billion and $1.45 billion.
- Adjusted EBITDA projected between $350 million and $400 million.
- Tightening supply in deepwater rig markets supporting higher dayrates.
- Repricing of legacy contracts expected to drive growth.
- Strong foundation laid for an even more robust 2027.
Headwinds
- Capital expenditure and maintenance spend expected to be $200 million to $240 million.
- Exclusion of $50 million in reimbursable revenues from top-line guidance.
- Potential for continued net losses as seen in the 2025 fiscal year.
- Ongoing impact of depreciation and amortization on GAAP profitability.
- Exposure to international financial market conditions and inflation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 4 quarterly earnings reports · overlaid with Q4 2025
-1.9%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+8.0%
Avg return
30 days after
40%
2 / 5 earnings
Positive
+3.3%
Q1 2026
Best reaction
-6.1%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | +8.9% | — | |
| Q4 2025 | -4.3% | -5.1% | +0.4% | |
| Q3 2025 | -6.1% | +0.3% | +3.6% | |
| Q2 2025 | -5.0% | -2.7% | +10.5% | |
| Q1 2025 | +2.5% | +1.2% | +17.3% |
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