secwatch.observer — SEC 8-K summary
======================================

Issuer:     Seadrill Ltd (SDRL)
CIK:        0001737706
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001737706-26-000006
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737706/000173770626000006/0001737706-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737706/000173770626000006/sdrl-20260225.htm
  HTML page:      https://secwatch.observer/filing/0001737706-26-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer