Seadrill Q2 net income $29M, revenue $449M; raises FY2026 EBITDA guidance to $420-450M

Seadrill Ltd

Q2 2026 revenue $449M (vs $358M prior qtr); net income $29M vs -$7M loss; diluted EPS $0.47 vs -$0.11.
Adjusted EBITDA $144M (vs $97M); margin ex-reimbursables 33.5% vs 27.9%; 96% economic utilization.
Raised FY2026 guidance: revenue $1.50-1.55B (was $1.43-1.48B); Adjusted EBITDA $420-450M (was $370-420M).
Contract backlog ~$2.9B; West Vela 1-yr U.S. Gulf contract ~$161M; West Capella Malaysia extension ~$26M.
Refinanced 2030 senior notes to 2034; RCF raised to $300M from $225M; repurchased ~$20M shares in Q2.

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