NorAm Drilling AS (NORAM) Earnings Call Transcripts

NorAm Drilling AS's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, NorAm Drilling AS reported revenues of $26.2 million, slightly down from $26.5 million in Q4 2025, with a net profit of $2.6 million, up from $2 million in the previous quarter. The company achieved 100% fleet utilization by quarter-end, despite a decline in Permian rig counts. Management maintained a positive outlook, indicating a backlog of $23.3 million and a commitment to return excess cash to shareholders through dividends, with a current yield of approximately 9%.

Reported metrics

Guidance from management

Management maintained a positive outlook, indicating that they expect to continue paying dividends and anticipate a stable backlog. They expect capital expenditures to be between $3 million and $4 million for the year, with a focus on maintaining low operational costs.

What management said

[Operator Instructions] Good. There are -- since there are no further questions in the audience, I would like to thank you for listening to the call. We hope to see you again next quarter, and thank you to NorAm family of employees for the great efforts made during the first quarter. Goodbye.

What analysts pressed on

Analysts expressed concerns regarding the availability of skilled labor and potential cost increases due to inflation. There were also questions about the sustainability of current revenue levels and the impact of geopolitical events on future operations.

Main topics on the call

• Fleet Utilization — NorAm achieved 100% fleet utilization by the end of Q1 2026, a significant accomplishment given the overall decline in Permian rig counts. CEO Martin Jimmerson noted, "This 100% achievement was remarkable considering thi...
• Revenue Performance — The company's revenue was reported at $26.2 million, down from $26.5 million in Q4 2025. Despite this decline, management indicated that improved utilization and lower reimbursables contributed to operational stability.
• Adjusted EBITDA Growth — Adjusted EBITDA improved to $4.5 million, up from $3.8 million in the previous quarter, driven by the reactivation of two rigs. This increase reflects operational efficiency despite flat revenue.
• Dividend Policy — NorAm paid dividends of $3.9 million in Q1 2026, marking its 42nd consecutive monthly payout. The commitment to return excess cash flow to shareholders remains strong, with management stating, "We will continue to pay di...

Read the full NorAm 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 5 NorAm Drilling AS earnings call transcripts on record, spanning February 20, 2025 to May 28, 2026. Based on this history, NorAm Drilling AS reports semi-annually. The most recent call on file is dated May 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NORAM

Exchange

OB

Country

NO

Sector

Energy

Industry

Energy Equipment and Services

Calls on record

5

First call

February 20, 2025

Most recent

May 28, 2026

Reporting cadence

semi-annually