Noble Q4 adjusted profit misses estimates

Noble

11/02/2026 21:39

Overview

Offshore drilling contractor's Q4 revenue rose, beating analyst expectations

Adjusted EPS for Q4 missed analyst expectations

Company completed divestiture of five jackups for $360 mln

Outlook

Noble forecasts 2026 revenue between $2,800 mln and $3,000 mln

Company expects 2026 adjusted EBITDA of $940 to $1,020 mln

Noble projects 2026 capital expenditures between $590 mln and $640 mln

Result Drivers

NEW CONTRACT AWARDS - Noble secured $1.3 bln in new contracts, boosting backlog to $7.5 bln

DIVESTITURE STRATEGY - Completed sale of five jackups for $360 mln to refine fleet focus

UTILIZATION CHANGES - Marketed jackup utilization improved to 68%, while floater utilization decreased

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$764 mln
$734.95 mln (8 Analysts)
Q4 Adjusted EPS
Miss
$0.09
$0.22 (6 Analysts)
Q4 EPS
$0.54
Q4 Adjusted Net Income
Miss
$14 mln
$36.70 mln (4 Analysts)
Q4 Net Income
$87 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "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 $33.50, about 20.1% below its February 10 closing price of $41.93

The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 32 three months ago

Press Release: ID:nPn305ntwa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)