Overview
Norway drilling firm's unaudited Q4 revenue at $26.5 mln
Company contracted rigs with major E&Ps, achieving high fleet utilization
Outlook
NorAm expects 100% rig fleet in operation by early March 2026
Result Drivers
RIG CONTRACTING - Contracted one of two available rigs with a major E&P, increasing contracted rigs to 10 by year-end
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$26.50 mln
$24.11 mln (2 Analysts)
Q4 Adjusted EBITDA
Miss
$3.80 mln
$4.83 mln (2 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "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 Noram Drilling AS is NOK28.00, about 26.3% below its February 19 closing price of NOK38.00
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nObiC7dSca
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(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.)
