---
schema_version: "secwatch.filing_event.v1"
accession: "0001737706-26-000013"
form_type: "8-K"
ticker: "SDRL"
cik: "0001737706"
company_name: "Seadrill Ltd"
filed_at: "2026-05-11T23:59:59+00:00"
generated_at: "2026-05-14T18:47:53.501803+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001737706-26-000013
- form_type: 8-K
- ticker: SDRL
- cik: 0001737706
- company_name: Seadrill Ltd
- filed_at: 2026-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737706/000173770626000013/0001737706-26-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737706/000173770626000013/sdrl-20260511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001737706-26-000013
- JSON: https://secwatch.observer/filing/0001737706-26-000013.json
- Plain text: https://secwatch.observer/filing/0001737706-26-000013.txt

## Source-grounded claims
- claim_id: 17cb8672cb48b2a82bb8f1d900283550b5bd82c2
  claim: Seadrill Ltd reported first quarter 2026 results: revenue $358 million, net income $7 million, EPS $(0.11). Guidance raised.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737706/000173770626000013/0001737706-26-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.