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

Issuer:     Seadrill Ltd (SDRL)
CIK:        0001737706
Form:       8-K
Filed at:   2026-08-07T22:02:38+00:00
Accession:  0001737706-26-000023
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737706/000173770626000023/0001737706-26-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737706/000173770626000023/sdrl-20260810.htm
  HTML page:      https://secwatch.observer/filing/0001737706-26-000023

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