Seadrill Q1 net loss $7M, raises FY2026 revenue and EBITDA guidance; adds $860M backlog

Seadrill Ltd

2026-Q1 EPS reported -$0.11 revenue$358,000,000

Net loss $7M ($0.11 diluted loss per share); Adjusted EBITDA $97M vs $88M in Q4 2025.
Total operating revenues $358M, down slightly from $362M in prior quarter.
Raised FY2026 guidance: revenues $1.43-$1.48B (prev. $1.40-$1.45B), EBITDA $370-$420M (prev. $350-$400M); capex unchanged at $200-$240M.
Contract backlog $3.1B; added ~$860M including West Polaris Petrobras extension ($480M) and LLOG contracts ($260M).
West Capella and West Jupiter projects completed ahead of schedule, expected to boost H2 2026 cash flow.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seadrill Ltd reported first quarter 2026 results: revenue $358 million, net income $7 million, EPS $(0.11). Guidance raised.

Period: first quarter 2026
Revenue: $358 million
Net income: $7 million
EPS: $(0.11)
Guidance: raised
Result: reported results

Exact text from the filing

security, we see growing tailwinds into 2027 to drive positive dayrate momentum.” Financial and Operational Results First quarter 2026 Total operating revenues decreased to $358 million, compared to $362 million in the prior quarter. The decrease was largely attributable to fewer operating days and lower reimbursable revenues, partially offset by increases in

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Source: SEC EDGAR

accession 0001737706-26-000013

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