---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-036889"
form_type: "8-K"
ticker: "SDRL"
cik: "0001737706"
company_name: "Seadrill Ltd"
filed_at: "2025-02-26T23:59:59+00:00"
generated_at: "2026-05-26T03:44:12.473736+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Seadrill Q4 net income $101M, revenue $289M; adds $1B backlog with Petrobras contracts

## Summary
- Q4 net income $101M, revenue $289M; Adjusted EBITDA $28M vs $93M in Q3.
- Secured long-term Petrobras contracts for West Jupiter and West Tellus, adding $1B backlog.
- Sold cold-stacked West Prospero for $45M cash; repurchased $100M shares in Q4.
- Total share repurchases $792M since Sep 2023, reducing issued shares by 22%.
- Free Cash Flow negative $31M; cash $505M, net debt $120M; backlog $3.0B.

## SEC filing metadata
- accession: 0001193125-25-036889
- form_type: 8-K
- ticker: SDRL
- cik: 0001737706
- company_name: Seadrill Ltd
- filed_at: 2025-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737706/000119312525036889/0001193125-25-036889-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737706/000119312525036889/d888272d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-036889
- JSON: https://secwatch.observer/filing/0001193125-25-036889.json
- Plain text: https://secwatch.observer/filing/0001193125-25-036889.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.