Brief: Noble Q2 Adjusted EPS USD 0.13 Vs. IBES Estimate USD 0.53

Noble

05/08/2025 21:06

Overview

Noble Q2 2025 revenue beats analyst expectations, adjusted EPS misses, per LSEG data

Co updates 2025 guidance: revenue reduced, adjusted EBITDA increased

Pacific Scirocco and Pacific Meltem disposals completed; other assets held for sale

Outlook

Noble reduces 2025 revenue guidance to $3,200-$3,300 mln

Company raises 2025 adjusted EBITDA guidance to $1,075-$1,150 mln

Capital expenditures for 2025 increased to $400-$450 mln

Noble sees increasing deepwater demand by late 2026

Result Drivers

CONTRACT AWARDS - Approximately $380 mln in new contract awards since April, backlog at $6.9 bln

REVENUE DECLINE - Contract drilling services revenue fell to $812 mln in Q2 from $832 mln in prior qtr due to lower rig utilization

COST INCREASE - Contract drilling services costs rose to $502 mln from $462 mln in the prior qtr, impacting net income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$849 mln
$846.80 mln (9 Analysts)
Q2 Adjusted EPS
Miss
$0.13
$0.53 (7 Analysts)
Q2 EPS
$0.27
Q2 Adjusted Net Income
Miss
$20 mln
$79.20 mln (5 Analysts)
Q2 Net Income
$43 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas drilling peer group is "buy"

Wall Street's median 12-month price target for Noble Corporation PLC is $31.00, about 16.5% above its August 4 closing price of $25.90

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nPn5KpcyGa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)