Seadrill Q4 net loss $10M; FY25 net loss $77M, adj EBITDA $353M; provides 2026 guidance

Seadrill Ltd

Q4 total operating revenues $362M, net loss $10M ($0.16 diluted loss per share); Adj EBITDA $88M.
Full year 2025 net loss $77M, Adjusted EBITDA $353M; contract backlog $2.5B at Feb 25, 2026.
Secured $0.5B in contract awards across seven rigs; West Capella adds $152M, West Saturn $114M.
2026 guidance: total operating revenues $1.40-1.45B (excl. $50M reimbursable), Adj EBITDA $350-400M, capex $200-240M.
Balance sheet: gross debt $625M, cash $365M, net debt $260M.

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