Seadrill Limited (SDRL) Earnings Call Transcripts

Seadrill Limited's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Seadrill Limited reported solid financial results, with contract drilling revenues reaching $277 million, up $4 million quarter-on-quarter. EBITDA was $97 million, a sequential increase of $9 million, driven by early contract commencements and improved economic utilization. Management raised full-year revenue guidance to a range of $1.43 billion to $1.48 billion and EBITDA guidance to $370 million to $420 million, reflecting strong operational execution and a positive outlook for free cash flow generation starting in the second half of 2026.

Reported metrics

Guidance from management

Management raised full-year revenue guidance to $1.43 billion to $1.48 billion and EBITDA guidance to $370 million to $420 million, reflecting strong operational performance and market conditions.

What management said

Thanks, Grant. In closing, I'd like to reiterate our priorities, safe, reliable operations, free cash flow generation and capturing the upside. We are proud of our performance to start 2026, executing key projects ahead of schedule, adding meaningful backlog, delivering first quarter EBITDA that exceeds expectations and raising our full year revenue and EBITDA guidance. Collectively, these achievements enhance our li...

It's hard to quantify right now. But historically, if you look at it, exploration, by definition, is a little less efficient than development because you're not doing exploration wells with an eyesight of each other with a development program, you're kind of rinse and repeat on the same field. So exploration, you have one well here or one well there. So by definition, that will take a bit more time and add more incre...

What analysts pressed on

Analysts expressed concerns regarding the geopolitical landscape and its potential impact on demand and contract pricing. Questions were raised about the sustainability of the current demand trends and how geopolitical tensions might affect future tenders and contracts.

Main topics on the call

• Revenue and EBITDA Guidance Increase — Management raised full-year revenue guidance to $1.43 billion to $1.48 billion and EBITDA guidance to $370 million to $420 million, indicating confidence in operational execution and market conditions. Grant Creed stated...
• Contract Awards and Backlog Growth — Seadrill added approximately $860 million to its backlog, with significant contracts secured in the U.S. Gulf and Brazil. Samir Ali noted, "In April, the West Neptune and West Vela each secured new contracts with LOG, ad...
• Operational Performance and Free Cash Flow Focus — The company emphasized a commitment to operational discipline and free cash flow generation, with expectations for meaningful cash flow starting in the second half of 2026. Ali stated, "We are sharpening our focus on fre...
• Market Demand and Exploration Cycle — Management highlighted a shift towards increased exploration spending among major oil companies, driven by declining production from existing fields. Ali mentioned, "Energy security is back in vogue... deepwater resource...

Read the full Seadrill Limited 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 18 Seadrill Limited earnings call transcripts on record, spanning February 27, 2020 to May 11, 2026. Based on this history, Seadrill Limited reports semi-annually. The most recent call on file is dated May 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SDRL

Exchange

NYSE

Country

US

Sector

Energy

Industry

Energy Equipment and Services

Calls on record

18

First call

February 27, 2020

Most recent

May 11, 2026

Reporting cadence

semi-annually