NOBLE CORPORATION PLC ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 RESULTS

Core Viewpoint - Noble Corporation plc reported its fourth quarter and full year 2025 results, highlighting solid performance and a strong backlog, with a focus on capital returns to shareholders and fleet optimization [1][2]. Financial Performance - Total revenue for Q4 2025 was $764 million, down from $927 million in Q4 2024, with contract drilling services revenue at $705 million [1][3]. - Net income for Q4 2025 was $87 million, a significant increase from a loss of $21 million in the previous quarter [1][3]. - Adjusted EBITDA for Q4 2025 was $232 million, down from $319 million in Q4 2024 [1][5]. - Basic earnings per share for Q4 2025 were $0.55, compared to $0.60 in Q4 2024 [1][4]. Capital Allocation and Shareholder Returns - The company declared a dividend of $0.50 per share for Q1 2026, bringing total capital returned since Q4 2022 to approximately $1.3 billion [1][2]. - Share repurchases for 2025 totaled $20 million, with $318 million in dividends paid during the year [1][3]. Operational Highlights - The marketed fleet utilization for floaters was 62% in Q4 2025, down from 67% in the prior quarter, while jackup utilization improved to 68% from 60% [1][4]. - Noble's backlog increased to $7.5 billion, with $1.3 billion in new contract awards since the last fleet status report [1][2]. Future Outlook - For full year 2026, guidance includes total revenue of $2,800 to $3,000 million and adjusted EBITDA of $940 to $1,020 million [1][2]. - The company anticipates a tightening market and a transitional year for earnings, with a backlog for 2027 already exceeding the current year [2][3].