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/Mis Actual Consensu

s s

Estimate

Q2 Beat $849 mln $846.80

Revenue mln (9

Analysts

)

Q2 Miss $0.13 $0.53 (7

Adjusted Analysts

EPS )

Q2 EPS $0.27

Q2 Miss $20 mln $79.20

Adjusted mln (5

Net Analysts

Income )

Q2 Net $43 mln

Income

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 ( NBLWF ) 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:

(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.)