earnings
confidence high
sentiment positive
materiality 0.75
Noble Q4 2022 revenue $623M, net income $135M; guides FY2023 EBITDA $725-825M
Noble Corp plc
2022-FY EPS reported
$1.73
revenue$1,413,847,000
- Q4 revenue $623M, contract drilling revenue $586M; net income $135M ($0.92 diluted EPS); adjusted EBITDA $157M.
- Integration of Maersk Drilling: $50M synergies realized to date; target $125M; $96M in share repurchases to date.
- Q4 cash from ops $171M, free cash flow $106M; total debt $673M, cash $476M; paid off $150M term loan post-Q4.
- Backlog $3.9B; FY2023 guidance: revenue $2.35-2.55B, adj. EBITDA $725-825M, capex $325-365M.
- Marketed floater utilization 91% in Q4; jackup utilization 85%; avg dayrate on floater backlog ~$400k.