secwatch.observer — SEC 8-K summary
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Issuer:     Seadrill Ltd (SDRL)
CIK:        0001737706
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0001193125-25-036889
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737706/000119312525036889/0001193125-25-036889-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737706/000119312525036889/d888272d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-036889

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