Offshore drilling contractor Noble misses Q3 adjusted EPS estimates, narrows 2025 revenue forecast

Noble

27/10/2025 20:17

Overview

Noble Q3 revenue beats analyst expectations

Co's adjusted EPS misses estimates

Company reports Q3 net loss of $21 mln, down from prior quarter

Noble announces $0.50 per share dividend for Q4

Outlook

Noble narrows 2025 revenue guidance to $3,225-$3,275 mln

Company expects 2025 adjusted EBITDA of $1,100-$1,125 mln

Capital expenditures for 2025 expected at $425-$450 mln

Result Drivers

RIG UTILIZATION - Contract drilling services revenue decreased due to lower rig utilization, which fell to 65% in Q3 from 73% in the prior quarter

CONTRACT BACKLOG - Noble secured $740 mln in new contracts, increasing backlog to $7 bln

OPERATIONAL PERFORMANCE - CEO highlights solid operational performance and cash flow generation in Q3

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$798 mln
$774.98 mln (8 Analysts)
Q3 Adjusted EPS
Miss
$0.19
$0.30 (6 Analysts)
Q3 EPS
-$0.13
Q3 Adjusted Net Income
Miss
$30 mln
$48.57 mln (4 Analysts)
Q3 Net Income
-$21 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "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 $32.00, about 4.5% above its October 24 closing price of $30.56

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nPnbWb1wDa

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