Dolphin Drilling AS (DDRIL) Earnings Call Transcripts

Dolphin Drilling AS's Latest Earnings Call - Q1 FY2026

In Q1 2026, Dolphin Drilling AS reported total revenue of $44.7 million, slightly lower than the previous quarter due to fewer operating days. Adjusted EBITDA improved to $8.6 million from $8.2 million, reflecting stable operations and cost discipline. Management highlighted strengthened contract visibility with a firm backlog of $362 million and potential options of $818 million, indicating a positive outlook for cash flow and operational stability.

Reported metrics

Guidance from management

For 2026, management expects higher capital expenditures in Q3 and Q4, particularly due to Borgland's special periodic survey estimated at $12 million. They indicated that the Letter of Intent for Borgland is expected to be firmed up during the second quarter.

What analysts pressed on

Analysts expressed concerns about the impact of recent downtime on future earnings, particularly regarding the Blackford Dolphin rig. There were also questions about the long-term contract visibility and pricing dynamics in a tightening market.

Main topics on the call

• Revenue Performance — Dolphin Drilling generated total revenue of $44.7 million in Q1 2026, which was slightly lower than the previous quarter due to fewer operating days. CFO Ingolf Gillesdal noted, "Charter revenues were in line with the pr...
• Adjusted EBITDA Growth — The company reported an adjusted EBITDA of $8.6 million, up from $8.2 million in the previous quarter, indicating improved operational efficiency. CEO Michael Boyd stated, "We have made material progress towards deliveri...
• Contract Backlog Strengthening — Dolphin Drilling's firm backlog increased to $362 million, bolstered by contract extensions and new Letters of Intent. Boyd emphasized, "This provides stronger cash flow visibility and a stable platform for growth."
• Cost Optimization Efforts — Total rig operating expenses were reduced to $21.3 million, a 6% reduction quarter-on-quarter, showcasing effective cost management. Gillesdal mentioned, "The company continued to make meaningful progress in cost optimiz...

Read the full Dolphin Drilling AS transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 7 Dolphin Drilling AS earnings call transcripts on record, spanning February 26, 2024 to May 29, 2026. Based on this history, Dolphin Drilling AS reports semi-annually. The most recent call on file is dated May 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DDRIL

Exchange

OB

Country

NO

Sector

Energy

Industry

Energy Equipment and Services

Calls on record

7

First call

February 26, 2024

Most recent

May 29, 2026

Reporting cadence

semi-annually