NE

It has been about a month since the last earnings report for Patterson-UTI (PTEN). Shares have added about 24.5% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Patterson-UTI due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Patterson-UTI Energy, Inc. before we dive into how investors and analysts have reacted as of late. Patterson-UTI Energy (PTEN) reported second-quarter 2026 adjusted earnings of break-even, outperforming the Zacks Consensus Estimate of a loss of 3 cents per share. The bottom line improved from the year-ago quarter's adjusted loss of 6 cents, primarily due to stronger performance in its Completion Services segment and year-over-year improvement in the Drilling Products and Other operations. Houston, TX-based oil and gas drilling company’s total revenues of $1.23 billion beat the Zacks Consensus Estimate of $1.15 billion by 7%. The top line also increased about 0.7% year over year, driven by improved activity and pricing in the Completion Services segment, along with higher revenues from Drilling Products and Other operations. PTEN’s board of directors declared a quarterly dividend of 10 cents per share, payable on Sept. 15, 2026, to shareholders of record as of Sept. 1. Drilling Services: Revenues in this segment totaled $373.5 million, down 7.5% from the year-ago quarter's $403.8 million, but beat our estimate of $350.7 million. Operating income declined to $22.7 million from $40.6 million a year ago, primarily due to a non-cash charge related to the Colombia exit. The reported figure also missed our operating income estimate of $41.1 million. Completion Services: Segment revenues increased 4.8% year over year to $753.6 million from $719.3 million and beat our estimate of $659.1 million. Operating income totaled $8.2 million against an operating loss of $29.2 million in the prior-year quarter. This improvement was driven by high pressure pumping utilization, better pricing and continued growth in integrated completion services. The reported figure beat our expectation of an operating loss of $17.6 million. Drilling Products: Revenues increased 3.3% year over year to $91.3 million from $88.4 million and beat our estimate of $80.4 million. Operating income improved to $8.3 million from $6.8 million in the year-ago quarter. Record international revenues and stronger U.S. revenue per industry rig offset disruptions in the Middle East and seasonal weakness in Canada. However, the reported operating income beat our estimate of $2.7 million. Other: Revenues amounted to $9.5 million, up 21.8% from the year-ago quarter’s $7.8 million and beat our estimate of $7.7 million. Operating income improved to $5.1 million from a loss of $2 million in the second quarter of 2025, aided by higher oil prices. The reported figure beat our operating income estimate of $2.3 million. In the reported quarter, PTEN spent $155.9 million on capital programs compared with $144.2 million in the prior-year period.  As of June 30, 2026, this company had cash and cash equivalents of $203.2 million and long-term debt of $1.23 billion. Its debt-to-capitalization was 28.5%. In the past month, investors have witnessed a upward trend in estimates revision. The consensus estimate has shifted 96.88% due to these changes. At this time, Patterson-UTI has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Patterson-UTI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Patterson-UTI belongs to the Zacks Oil and Gas - Drilling industry. Another stock from the same industry, Noble Corporation PLC (NE), has gained 12.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Noble Corporation PLC reported revenues of $719.69 million in the last reported quarter, representing a year-over-year change of -15.2%. EPS of $0.01 for the same period compares with $0.13 a year ago. Noble Corporation PLC is expected to post earnings of $0.13 per share for the current quarter, representing a year-over-year change of -31.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -45.7%. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Noble Corporation PLC. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Patterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report Noble Corporation PLC (NE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Nabors Industries (NBR). Shares have added about 10.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Nabors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Nabors Industries reported a second-quarter 2026 adjusted loss of $2.04 per share, wider than the Zacks Consensus Estimate of a loss of $1.54. However, the metric is lower than the prior-year quarter’s reported loss of $2.71 per share, backed by higher year-over-year operating profit from the International Drilling segment. The oil and gas drilling company’s operating revenues of $814.8 million beat the Zacks Consensus Estimate of $812 million, driven by higher year-over-year revenues from the International Drilling segment. However, the top line decreased from the year-ago quarter’s $832.8 million, caused by lower contributions from the U.S. Drilling and Drilling Solutions segments. Adjusted EBITDA totaled $221.7 million, down from $248.5 million in the prior-year quarter but up from $204.8 million in the first quarter of 2026. The metric beat our model estimate of $217.2 million. U.S. Drilling generated operating revenues of $252.5 million, down from the year-ago quarter’s $255.4 million and higher than the prior quarter’s $241.1 million. However, the figure missed our model estimate of $279.2 million. Operating profit totaled $31 million compared with $39.8 million in the year-ago quarter. The figure missed our estimated profit of $35.1 million. Adjusted EBITDA from the segment totaled $94.1 million, down from $101.8 million a year ago but above $88.1 million in the previous quarter. The figure missed our model estimate of $102.4 million. The Lower 48 average rig count increased to 67.8 rigs from 62.4 rigs in the prior-year quarter and 65.3 rigs in the first quarter of 2026. The company noted that it added five rigs in the Lower 48 market during the second quarter, bringing the current working rig count in the region to 73, up 15 rigs since November 2025. International Drilling reported operating revenues of $432.5 million, up from $385 million in the year-ago quarter and $419.5 million in the first quarter. Moreover, the figure beat our estimate of $404 million. Operating profit totaled $45.9 million compared with $36.1 million in the year-ago quarter. The figure beat our estimated profit of $42.4 million. The segment’s adjusted EBITDA was $130.5 million, compared with $117.7 million a year ago and $121.3 million in the preceding quarter. The figure beat our estimate of $123 million. Average rigs working increased to 93.4 from 85.9 in the year-ago period. Nabors stated that its SANAD land drilling joint venture deployed one newbuild rig in Saudi Arabia during the quarter, bringing total newbuild deployments to 16. Three more newbuilds are scheduled for 2026. The company also reactivated one previously suspended SANAD rig. Drilling Solutions recorded operating revenues of $110.6 million, down from $170.3 million a year ago but up from $106.2 million in the prior quarter. The figure slightly beat our estimate of $110.1 million. Operating profit totaled $32.1 million compared with $39.8 million in the year-ago quarter. The figure beat our estimated profit of $31.3 million. Adjusted EBITDA totaled $40 million, compared with $76.5 million in the year-ago quarter and $38.7 million in the first quarter. Moreover, the figure beat our estimate of $39 million. Rig Technologies generated operating revenues of $37.5 million, up from $36.5 million in the year-ago quarter and $27.2 million in the previous quarter. However, the figure slightly missed our estimate of $37.6 million. Operating profit totaled $1.5 million compared with $1.7 million in the year-ago quarter. The figure beat our estimated profit of $1 million. The segment’s adjusted EBITDA was $3.2 million, compared with $5.2 million a year ago and $0.5 million in the prior quarter. The figure beat our estimate of $3 million. Nabors’ total costs and expenses decreased to $802 million from $818 million in the year-ago quarter. Moreover, the amount was lower than our prediction of $806.4 million. As of June 30, 2026, Nabors had $509.8 million in cash and short-term investments. Long-term debt was about $2.1 billion, with a debt-to-capitalization of 79.6%. Net cash provided by operating activities was $135.2 million in the second quarter. Capital expenditures, net of proceeds from asset sales, totaled $122.9 million, resulting in adjusted free cash flow of $12.3 million. It turns out, estimates review flatlined during the past month. The consensus estimate has shifted -364.71% due to these changes. At this time, Nabors has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Nabors has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Nabors is part of the Zacks Oil and Gas - Drilling industry. Over the past month, Noble Corporation PLC (NE), a stock from the same industry, has gained 10.2%. The company reported its results for the quarter ended June 2026 more than a month ago. Noble Corporation PLC reported revenues of $719.69 million in the last reported quarter, representing a year-over-year change of -15.2%. EPS of $0.01 for the same period compares with $0.13 a year ago. For the current quarter, Noble Corporation PLC is expected to post earnings of $0.13 per share, indicating a change of -31.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -45.7% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Noble Corporation PLC. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabors Industries Ltd. (NBR) : Free Stock Analysis Report Noble Corporation PLC (NE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: Contract drilling services revenue for Q2 2026 totaled $679 million. Adjusted EBITDA: Q2 2026 adjusted EBITDA was $212 million, with an adjusted EBITDA margin of 30%. Cash Flow: Q2 2026 cash flow from operations was $144 million; free cash flow was negative $59 million. Capital Expenditures: Q2 2026 capital expenditures were $205 million. Backlog: Total backlog as of July 27, 2026, stands at $6.8 billion. Full-Year 2026 Revenue Guidance: Revised to a range of $2.8 billion to $2.9 billion. Full-Year 2026 Adjusted EBITDA Guidance: Revised to between $850 million and $925 million. Full-Year 2026 Capital Expenditures Guidance: Unchanged at a range of $615 million to $665 million. Shareholder Returns: Returned $80 million to shareholders in Q2 via a $0.50 per share quarterly dividend; a $0.50 per share dividend declared for September. New Contract Awards: Booked approximately $200 million of new backlog from two contracts: the Noble Viking (six-well contract in Asia Pac) and the Noble Claus Bachmann (three-well contract with BP in the UK North Sea at $320,000 per day). Warning! GuruFocus has detected 6 Warning Sign with NWBI. Is NE fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Noble Corp PLC (NYSE:NE) secured two new contracts, adding approximately $200 million in backlog, including a six-well contract for Noble Viking and a three-well contract for Noble Claus Bachmann at $320,000 per day. Global UDW floater demand remains strong with 95% contracted utilization of the marketed fleet, and open demand outside Brazil is 20% higher than two years ago. Day rates are trending higher, with recent fixtures in the mid-$400,000s per day, supported by firming market conditions and tight supply. The company completed a successful debt refinancing in June, issuing $800 million in new notes at 6.25% due 2034, unlocking $35 million in annual cash benefits. Management is optimistic about a meaningful earnings inflection by the second half of 2027, driven by contract start-ups and promising opportunities for available rigs. Second-quarter adjusted EBITDA was adversely impacted by $43 million due to an operational suspension of two rigs in Brazil, leading to revised full-year guidance. Full-year 2026 adjusted EBITDA guidance was reduced to $850 million-$925 million from $940 million-$1.02 billion, driven by revenue headwinds from Brazil rigs and contract swaps. The Noble Stanley Lafosse contract ended earlier than expected in January 2027 instead of July 2027, reducing future backlog. UDW demand in South America declined to 41 units from 44 six months ago, primarily due to Petrobras' activity reduction in Brazil. The US Gulf of Mexico market softened to 19 rigs from 21 six months ago, with limited near-term activity expected to keep rig counts in the high teens. Here are the key highlights from the Noble Corp PLC (NYSE:NE) Q2 2026 earnings call, focusing on the most significant Q&A exchanges. Q: Can you elaborate on the contrasting demand trends you're seeing in the Eastern Hemisphere versus the Western Hemisphere, and how this might inform Noble's future strategy, given your current leverage to the US Gulf and Guyana? A: (Robert Eifler, President & CEO) The increase in open demand and activity in Asia Pacific is a welcome upside. While the situation in India has been fluid, we hope those tenders will return. The region is likely benefiting from heightened energy security concerns. For Noble, I could easily see an additional unit moving to Asia Pacific, but it's too early to say definitively. Similarly, we are optimistic about expanding our presence in West Africa, where we see very real demand growth over the next 2 to 2.5 years. Q: You mentioned being optimistic about near-term contract news. Can you unpack this a bit? Are these opportunities for idle floaters or for adding backlog to existing working rigs? A: (Robert Eifler, President & CEO) Most of the work is weighted towards the second half of 2027. We have a number of opportunities that will help demand across the industry. Specifically, we have at least one opportunity that could potentially start this year, and a couple of others that would start in the first or second quarter of next year. We still have work to do, but we are hopeful to have news in the coming quarter. Q: How should we view the available rig time in 2027? Do you think you can book a one-year job in 2027 at the mid-400s day rate, or do you need to look at multi-year jobs starting in 2028 to achieve that rate? A: (Robert Eifler, President & CEO) The market will track with the norm. Gap-filler work will naturally be priced at a discount, while longer-term work will also be at a slight discount. Everything else fits in the middle. We see a path to full utilization for the high-end floating fleet in 2027. The programs are there, and FIDs are largely in place. We are as optimistic as we've been about the second half of 2027 forward. Q: Can you provide more detail on the administrative solutions being negotiated with Petrobras regarding the operational suspension of the two rigs in Brazil? Are we looking at day rate reductions, additional idle time, or early termination? A: (Robert Eifler, President & CEO) The shutdown in May and June was a result of an ANP (regulator) audit. It is an ongoing matter, and I cannot say much about it. Our revised guidance reflects the $15 million impact mentioned by Richard, but also a range of outcomes that could go on either side of that. Both rigs are operating today, and we are working through the process with the regulator. Q: Looking at the 2027 opportunities in the US Gulf, what are you seeing, and what would it take to potentially move rigs out of that region? A: (Robert Eifler, President & CEO) There are opportunities for our rigs in the US Gulf, West Africa, Asia Pacific, and Central/Northern South America that are yet to be contracted. You could anticipate one or two of our rigs moving regions, which I think is a good thing in the long run. We are working through all of that now. Q: With the Ocean Apex scrapped, are you thinking about the Globetrotter 1? Is a contract realistic, or is disposal more likely? And more broadly, do you think older, lower-spec assets will start to be scrapped more? A: (Robert Eifler, President & CEO) The GT1 is bid for intervention work and a few drilling wells uniquely suited to its design. We are working hard on finding work for it, but have nothing to announce. More broadly, with the demand visibility for late 2027, scrapping would generally be slower. For very old rigs (35+ years), it's a judgment call on whether to put capital into SPS costs. You will see some of that, but the incentive for extreme fleet management discipline has dissipated from a year or two ago. Q: Do you think the recent oil price volatility is holding up projects, or will energy security concerns win out and lead to more contracts? A: (Robert Eifler, President & CEO) I do not think our customers have raised their long-term pricing outlook based on the volatility. The middle part of the Brent curve hasn't changed much. The trend of a rotation from the Permian back into deepwater is ongoing and is driving the FIDs we see. Energy security is a bigger ship to turn and would take longer to manifest. Our view is based on the Brent oil curve, which hasn't changed that much. Q: What could steepen the day rate increases from here? Is it simply a matter of utilization getting to a point where customers get nervous about securing rigs? A: (Robert Eifler, President & CEO) Typically, a sharp turn upward requires a real sense of scarcity. That is not the case right now, though we are closer to it looking into 2027 than we were a year ago. Customers can still choose to wait. We anticipate a less severe, more organic path where demand ticks up towards a fixed supply, creating upward pressure on day rates but not massive spikes. This smoothing of volatility is good for everybody. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Noble Corporation PLC? Here are five stocks we like better. Brazilian rig suspensions weighed on results: Noble reported $212 million in Q2 adjusted EBITDA on $679 million of revenue, while the disruptions reduced results by $43 million. The company lowered 2026 revenue guidance to $2.8 billion–$2.9 billion and adjusted EBITDA guidance to $850 million–$925 million. New contracts added approximately $200 million to backlog: The Noble Viking secured a six-well Asia-Pacific contract, while the Noble Claus Bachmann won a BP contract in the U.K. North Sea. Total backlog reached $6.8 billion, including about $1 billion expected to convert to revenue in the rest of 2026. Management remains optimistic about the offshore drilling market: Noble cited strong international ultra-deepwater demand, with recent fixtures reaching the mid-$400,000-per-day range, and expects a meaningful earnings inflection in the second half of 2027. A debt refinancing is also expected to generate about $35 million in annual cash benefits. 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? Noble (NYSE:NE) reported second-quarter 2026 adjusted EBITDA of $212 million on contract drilling services revenue of $679 million, as operational suspensions involving two rigs in Brazil weighed on results and prompted the offshore driller to lower its full-year outlook. Adjusted EBITDA margin was 30% in the quarter. Cash flow from operations totaled $144 million, while capital expenditures were $205 million, resulting in negative free cash flow of $59 million, according to Chief Financial Officer Richard Barker. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit A $1.5 Billion Wake-Up Call for Every AI Company on Wall Street President and CEO Robert Eifler said the company returned an additional $80 million to shareholders during the quarter through its $0.50-per-share quarterly dividend. Noble’s board also declared another $0.50-per-share dividend payable in September. Noble said second-quarter performance was adversely affected by $43 million from an operational suspension involving the Noble Courage and Noble Faye Kozack in Brazil. Both rigs are now operating, but the company’s updated guidance includes at least an additional $15 million revenue reduction through January 2027 as it works toward administrative solutions following the suspension. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Scotiabank Sees a New Growth Story for Cloudflare Eifler said the shutdowns during May and June followed an audit by Brazil’s ANP regulator. He said Noble could not provide extensive detail because the matter remains ongoing, but noted that the company’s revised outlook reflects a range of possible outcomes. The company reduced its 2026 total revenue guidance to $2.8 billion to $2.9 billion, compared with its prior range of $2.8 billion to $3.0 billion. Full-year adjusted EBITDA guidance was cut to $850 million to $925 million from $940 million to $1.02 billion previously. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Barker said the reduction primarily reflects the Brazil impact, along with the transfer of work from the Noble Innovator to the Noble Intrepid and Noble Viking options that are now more likely to begin in 2027. Capital expenditure guidance was unchanged at $615 million to $665 million, including an estimated $25 million of customer-reimbursable capital spending. Noble secured two new contracts during the past three months, adding approximately $200 million of backlog. The Noble Viking received a six-well contract in the Asia-Pacific region expected to cover most of 2028, with options extending into 2029. Separately, the company’s recently renamed Noble Claus Bachmann, formerly the Ocean GreatWhite, was awarded a three-well contract with BP in the U.K. North Sea. The contract is expected to last 150 to 210 days at a day rate of $320,000, plus mobilization fees, beginning in March 2027. The work is scheduled to occur immediately before the rig starts a three-year contract with Aker BP in Norway. Total backlog stood at $6.8 billion as of July 27, including about $1 billion expected to convert to revenue during the remainder of 2026 and $2.3 billion in 2027. Backlog excludes reimbursable revenue and ancillary services. The current backlog also reflects an anticipated earlier completion of the Noble Stanley Lafosse’s wells-based campaign, now expected in January 2027 rather than July 2027. Eifler said the customer continues to seek rig capacity and Noble is participating in that tender. Eifler said global ultra-deepwater demand remains strong despite oil-price volatility tied to the Iran conflict. During the first half of 2026, 77 rig-years of ultra-deepwater backlog were contracted, the highest level in more than a decade, he said. Open floater demand remains above 95 rig-years, all outside Brazil, while 104 rigs are contracted now or in the future. That represents 95% contracted utilization of the marketed fleet. Current utilization was 79%, based on 87 ultra-deepwater units under contract, and Noble expects that figure to rise as long-term programs begin. Recent fixtures have reached the mid-$400,000-per-day range, according to Eifler, though he said longer-term work farther into the future generally commands higher rates than near-term gap-filler assignments. South America: Regional ultra-deepwater demand stands at 41 units, including 32 in Brazil. Noble expects the broader South American market to absorb two to three additional units over the next year, supported by Guyana-Suriname and opportunities in Colombia, Peru, Uruguay and potentially Venezuela. U.S. Gulf: Demand has declined to 19 units from 21 six months earlier. Noble said current oil prices could support a stabilized 20-rig market over time, while the potential movement of two to three rigs overseas could keep drillship capacity fully utilized. Africa: West Africa and Mozambique have 22 rig-years of open demand across public tenders and pre-tenders. Noble expects the region could grow into the high teens in rig demand by the second half of 2027. Asia-Pacific and India: The region has 42 rig-years of open demand, representing 45% of the global total. Noble said India’s exploration campaign appears delayed by about a year due to planning and funding lead times rather than canceled. Eifler said Noble could move one or two rigs between regions as opportunities develop, with potential work seen in the U.S. Gulf, West Africa, Asia-Pacific, and Central and Northern South America. During June, Noble issued $800 million of 6.25% senior unsecured notes due 2034 to refinance legacy Diamond bonds and a portion of existing Noble bonds. Barker said the refinancing simplifies the company’s capital structure and is expected to produce $35 million in annual cash benefits, primarily from interest expense and tax-related savings. The company also completed an $18 million lease buyout for the third of four Blackships blowout preventer systems. The final buyout is expected in the fourth quarter at the same cost. Noble recorded a $42 million impairment tied to the Ocean Apex sale for scrap; the sale closed in early July and generated $5 million in net proceeds. Looking ahead, Eifler said the company expects a “meaningful earnings inflection” by the second half of 2027, supported by contract startups already in backlog and additional work for its remaining available rig capacity. He said Noble expects to provide further contract news in the coming quarter. Noble (NYSE: NE) is an offshore drilling company that provides drilling services to the global oil and gas industry. The firm operates a fleet of mobile offshore drilling units and delivers contract drilling solutions for exploration and production activities. Its core business centers on executing drilling programs for upstream energy companies across a range of water depths and operating environments. Products and services include the operation and management of offshore drilling rigs — such as drillships, semisubmersibles and jackups — along with associated technical, engineering and project management services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Noble Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Noble Corporation PLC (NE) came out with quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -92.31%. A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.26, delivering a surprise of +23.81%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Noble Corporation PLC, which belongs to the Zacks Oil and Gas - Drilling industry, posted revenues of $719.69 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 7.85%. This compares to year-ago revenues of $848.65 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Noble Corporation PLC shares have added about 53.2% since the beginning of the year versus the S&P 500's gain of 8.3%. While Noble Corporation PLC has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Noble Corporation PLC was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $730.06 million in revenues for the coming quarter and $0.81 on $2.9 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Drilling is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Patterson-UTI (PTEN), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 29. This provider of onshore contract drilling services is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has been revised 400% higher over the last 30 days to the current level. Patterson-UTI's revenues are expected to be $1.15 billion, down 5.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Noble Corporation PLC (NE) : Free Stock Analysis Report Patterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Approximately $200 million in new contract value since the April fleet status report, including a 6-well contract for the Noble Viking and a 3-well contract for the Noble Claus Bachmann; backlog stands at $6.8 billion. Successful refinancing of the legacy Diamond notes, simplifying the capital structure and unlocking $35 million in annual cash benefits (primarily interest and tax related). $0.50 per share cash dividend declared for Q3, maintaining consistent return of capital program. Q2 Net Loss of $37 million, Diluted Loss per Share of ($0.23), Adjusted Diluted Earnings per Share of $0.01, Adjusted EBITDA of $212 million, net cash provided by operating activities of $144 million, and Free Cash Flow of $(59) million. Full Year 2026 Guidance for Revenue and Adjusted EBITDA reduced; capital expenditures guidance maintained. HOUSTON, July 27, 2026 /PRNewswire/ -- Noble Corporation plc (NYSE: NE, "Noble" or the "Company") today reported second quarter 2026 results. Robert W. Eifler, President and Chief Executive Officer of Noble, stated, "Our second quarter was adversely impacted by $43 million due to the operational suspension of both of our rigs in Brazil, while operational and financial performance was otherwise strong across the board. Additionally, we completed a highly successful debt refinancing, which is expected to drive meaningful cash benefits going forward. The continued importance of offshore investment is supportive of strong rig demand, with increasing market tightness for high spec drillships driving leading edge dayrates into the mid $400,000s per day." Second Quarter ResultsContract drilling services revenue for the second quarter of 2026 totaled $679 million compared to $743 million in the prior quarter, with the sequential decrease driven primarily by the operational suspensions impacting the Noble Faye Kozack and Noble Courage in Brazil (comprising approximately $43 million), as well as the conclusion of the Noble Globetrotter I's contract in the Black Sea. Utilization of the 29 marketed rigs was 64% in the second quarter of 2026 compared to 68% in the prior quarter. Contract drilling services costs for the second quarter were $446 million, down from $450 million in the prior quarter. Net income decreased to a $37 million loss in the second quarter of 2026 compared to net income of $121 million in the prior quarter, and Adjusted EBITDA decreased to $212 million in the second quarter of 2026, down from $277 million in the prior quarter. Net cash provided by operating activities in the second quarter of 2026 was $144 million, capital expenditures were $205 million, and free cash flow (non-GAAP) was $(59) million. Balance Sheet & Capital AllocationThe Company's balance sheet as of June 30, 2026, reflected total debt principal value of $1.9 billion and cash (and cash equivalents) of $456 million. In June, the Company refinanced $800 million of existing bonds with a new offering of 6.250% senior unsecured notes due 2034. Second quarter results include an $18 million loss on debt extinguishment. The Company completed the lease buy-out regarding the third (of four total) Blackships BOP systems for $18 million during the second quarter. The buy-out of the last remaining BOP system is expected to occur in the fourth quarter of 2026 for $18 million. Additionally, the idle semisubmersible Ocean Apex was sold for scrapping in July, with net sale proceeds of approximately $5 million corresponding with a $42 million impairment taken during the second quarter. On July 27, 2026, Noble's Board of Directors approved an interim quarterly cash dividend on our ordinary shares of $0.50 per share for the third quarter of 2026. The $0.50 per share dividend is expected to be paid on September 24, 2026, to shareholders of record at close of business on September 3, 2026. Future quarterly dividends and other shareholder returns will be subject to, amongst other things, approval by the Board of Directors. Operating Highlights and BacklogNoble's fleet of 24 marketed floaters was 61% contracted during the second quarter compared with 68% in the prior quarter. Recent contract awards since last quarter have added approximately 16 months of new floater backlog, with leading edge dayrates for Tier-1 drillships increasing to the mid $400,000s. Utilization of Noble's 5 marketed ultra harsh jackups was 80% in the second quarter versus 66% during the prior quarter. Subsequent to last quarter's earnings press release, new contracts with a total contract value of approximately $200 million include the following: Noble Viking was awarded a six-well contract in Asia Pacific scheduled to commence in early 2028 with estimated duration of approximately 300 days. Noble Claus Bachmann was awarded a 3-well contract with bp in the UK North Sea. The contract is expected to commence in March 2027 with estimated duration of 150-210 days at a dayrate of $320,000 per day, plus a $5 million mobilization fee. The rig's 3-year campaign with Aker BP is now scheduled to commence in direct continuation of the new bp contract. Backlog as of July 27, 2026, stands at $6.8 billion. Backlog excludes mobilization and demobilization revenue. OutlookFor the full year 2026, Revenue guidance is reduced to $2,800-$2,900 million (versus $2,800-$3,000 million previously) and Adjusted EBITDA guidance is reduced to $850-$925 million (versus $940-$1,020 million previously). Guidance for capital expenditures is unchanged at $615-$665 million. Commenting on Noble's outlook, Mr. Eifler stated, "Revised guidance primarily reflects reduced revenues for our two rigs operating in Brazil, as well as re-sequenced backlog in the second half of the year for the Noble Viking and Noble Innovator / Noble Intrepid. Despite these near-term revenue headwinds, the market outlook continues to look promising in 2027 and beyond for both deepwater and harsh environment rigs, as demonstrated by recent contract fixtures at increasing dayrates." Due to the forward-looking nature of Adjusted EBITDA and Capital Expenditures (net of reimbursements), management cannot reliably predict certain of the necessary components of the most directly comparable forward-looking GAAP measure, net income and capital expenditures, respectively. Accordingly, the Company is unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measure to the most directly comparable forward-looking GAAP financial measure without unreasonable effort. The unavailable information could have a significant effect on Noble's full year 2026 GAAP financial results. Conference CallNoble will host a conference call related to its second quarter 2026 results on Tuesday, July 28, 2026, at 8:00 a.m. U.S. Central Time. Interested parties may dial +1 833-461-5787 and refer to conference ID 351391458 approximately 15 minutes prior to the scheduled start time. Additionally, a live webcast link will be available on the Investor Relations section of the Company's website. A webcast replay will be accessible for a limited time following the call. About Noble Corporation plcNoble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. Additional information on Noble is available at www.noblecorp.com. Forward-looking StatementsThis communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward looking statements, including, but not limited to, those regarding future guidance, including revenue, earnings and earnings per share, EBITDA and adjusted EBITDA, margins, leverage, operating results, project status, expenses, tax rates and deferred taxes, future cash benefit expectations, the offshore drilling market and demand fundamentals, costs, amount, effect or timing of cost savings, debt, the benefits or results of asset acquisitions and dispositions, cash flows and free cash flow expectations, capital expenditures and capital allocations expectations, including planned dividends and share repurchases, backlog, including projections for the achievement of revenue associated with performance, rig demand, contract awards and expected future contracts, options or extensions on existing contracts, anticipated contract start dates, major project schedules, dayrates and duration, customer actions, needs and the general customer landscape, operational suspensions, projections, strategies and objectives of management for current or future operations and business, any asset sales or the retirement of rigs, access to capital, fleet condition, utilization and strategy, timing and amount of insurance recoveries, current or future market outlook and current or future economic trends or events and their impact on the Company, 2026 financial guidance and any statements or descriptions of assumptions underlying any of the above. Forward-looking statements involve risks, uncertainties and assumptions, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. When used in this communication, or in the documents incorporated by reference, the words "guidance," "anticipate," "aim," "believe," "continue," "could," "estimate," "expect," "future," "goal," "intend," "likely," "likelihood," "may," "might," "on track," "outlook," "plan," "possible," "potential," "predict," "project," "should," "schedule," "would," "achieve," "shall," "seek," "strategy," "target," "will" and similar expressions are intended to be among the statements that identify forward looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. These forward-looking statements speak only as of the date of this communication and we undertake no obligation to revise or update any forward-looking statement for any reason, except as required by law. Actual results may differ materially from any future results expressed or implied by such forward-looking statements and the expectations expressed in forward-looking statements are subject to a number of risks, uncertainties and assumptions which could affect our business, operating results, and financial condition and include, but are not limited to, market conditions and changes in customer demand, the level of activity in the oil and gas industry and the offshore contract drilling industry, current and future prices of oil and gas, customer actions and the general customer landscape, new or substitute contracts, awards and expected future contracts, contract duration, renewal, terminations, and repricing, dayrates and contract duration, operational suspensions, realization of our current backlog of contract drilling revenue, operating hazards, natural disasters, seasonal weather events and related damages or liabilities, acts of war, geopolitical conflicts, including the conflict involving Iran and related geopolitical instability in the Middle East, and their impact on commodity prices, global energy markets and regional and global shipping flows, risks relating to operations in international locations, upgrades, refurbishment, operation, and maintenance of our rigs and related operational interruptions and delays, sales of drilling units, supplier capacity constraints or shortages, nonperformance by third-parties, suppliers and subcontractors, regulatory changes, the impact of governmental laws and regulations on our costs and the offshore drilling industry, potential impacts, liabilities and costs from pending or potential investigations, claims and tax or other disputes, and other factors, including those detailed in Noble's most recent Annual Report on Form 10-K, Quarterly Reports Form 10-Q and other filings with the U.S. Securities and Exchange Commission. We cannot control such risk factors and other uncertainties, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. You should consider these risks and uncertainties when you are evaluating us. With respect to our capital allocation policy, distributions to shareholders in the form of either dividends or share buybacks are subject to the Board of Directors' assessment of factors such as business development, growth strategy, current leverage and financing needs. There can be no assurance that a dividend or buyback program will be declared or continued. Contract Backlog The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension, delays for a variety of reasons, and for certain customers, reallocation of term among contracted rigs, including some beyond Noble's control. The contract backlog represents the maximum contract drilling revenues that can be earned when only considering the contractual operating dayrate in effect during the firm contract period. The actual average dayrate will depend upon a number of factors (e.g., rig downtime, suspension of operations, etc.) including some beyond Noble's control. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, contract preparation, shipyards, or recharges, unless specifically otherwise stated. Dayrates may include revenue associated with performance including, for example, approximately 40% assumed performance revenue realized on a combined basis under certain long-term contracts with Shell (US) and TotalEnergies (Suriname). The outcome of discussions regarding proposed administrative solutions following the operational suspension of the Noble Courage and Noble Faye Kozack remain uncertain and actual revenues earned by the rigs may differ from disclosed backlog. NOBLE CORPORATION plc AND SUBSIDIARIESCALCULATION OF BASIC AND DILUTED EARNINGS/(LOSS) PER SHARE(In thousands, except per share amounts)(Unaudited) The following table presents the computation of basic and diluted earnings (loss) per share: NOBLE CORPORATION plc AND SUBSIDIARIESNON-GAAP MEASURES AND RECONCILIATION Certain non-GAAP measures and corresponding reconciliations to GAAP financial measures for the Company have been provided for meaningful comparisons between current results and prior operating periods. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. The Company defines "Adjusted EBITDA" as net income (loss) adjusted for interest expense, net of amounts capitalized; interest income and other, net; income tax benefit (provision); and depreciation and amortization expense, as well as, if applicable, gain (loss) on extinguishment of debt, net; losses on economic impairments; amortization of intangible assets and contract liabilities, net; restructuring and similar charges; costs related to mergers and integrations; and certain other infrequent operational events. We believe that the Adjusted EBITDA measure provides greater transparency of our core operating performance. We prepare Adjusted Net Income (Loss) by eliminating from Net Income (Loss) the impact of a number of non-recurring items we do not consider indicative of our on-going performance. We prepare Adjusted Diluted Earnings (Loss) per Share by eliminating from Diluted Earnings (Loss) per Share the impact of a number of non-recurring items we do not consider indicative of our on-going performance. Similar to Adjusted EBITDA, we believe these measures help identify underlying trends that could otherwise be masked by the effect of the non-recurring items we exclude in the measure. The Company also discloses free cash flow as a non-GAAP liquidity measure. Free cash flow is calculated as Net cash provided by (used in) operating activities less cash paid for capital expenditures. We believe Free Cash Flow is useful to investors because it measures our ability to generate or use cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. We may have certain obligations such as non-discretionary debt service that are not deducted from the measure. Such business needs, obligations, and other non-discretionary expenditures that are not deducted from Free Cash Flow would reduce cash available for other uses including return of capital. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to key metrics used by our management team for financial and operational decision-making. We are presenting these non-GAAP financial measures to assist investors in seeing our financial performance through the eyes of management, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. These non-GAAP adjusted measures should be considered in addition to, and not as a substitute for, or superior to, contract drilling revenue, contract drilling costs, contract drilling margin, average daily revenue, operating income, cash flows from operations, or other measures of financial performance prepared in accordance with GAAP. Please see the following non-GAAP Financial Measures and Reconciliations for a complete description of the adjustments. View original content:https://www.prnewswire.com/news-releases/noble-corporation-plc-announces-second-quarter-2026-results-302835622.html

As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the oilfield services industry, including Noble Corporation (NYSE:NE) and its peers. Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation. The 26 oilfield services stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 3.8%. In light of this news, share prices of the companies have held steady as they are up 2% on average since the latest earnings results. With origins dating back over a century to 1921, Noble Corporation (NYSE:NE) operates drilling rigs that oil and gas companies charter to drill wells in deep ocean waters and shallow seas. Noble Corporation reported revenues of $785.7 million, down 10.2% year on year. This print exceeded analysts’ expectations by 6.8%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS andEBITDA estimates. Robert W. Eifler, President and Chief Executive Officer of Noble, stated, "We commenced 2026 with solid operational and financial results. Commercial momentum remains brisk, highlighted by the Noble Courage's three year extension with Petrobras and the Noble Deliverer's five-well program with Woodside. We remain intensely focused on project execution, with several important contract commencements scheduled over the course of this year, each of which is progressing well." Interestingly, the stock is up 5% since reporting and currently trades at $52. Is now the time to buy Noble Corporation? Access our full analysis of the earnings results here, it’s free. Managing over 24 billion barrels of produced water annually across major U.S. shale plays, Select Water Solutions (NYSE:WTTR) provides water sourcing, recycling, disposal, and treatment services for oil and gas producers. Select Water Solutions reported revenues of $366 million, down 2.3% year on year, outperforming analysts’ expectations by 6.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. The market seems happy with the results as the stock is up 9.7% since reporting. It currently trades at $18.93. Is now the time to buy Select Water Solutions? Access our full analysis of the earnings results here, it’s free. Operating one of the world's youngest jack-up fleets with an average age under eight years, Borr Drilling (NYSE:BORR) operates jack-up rigs that drill oil and gas wells in shallow waters up to 400 feet deep for exploration and production companies. Borr Drilling reported revenues of $247 million, up 14% year on year, falling short of analysts’ expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates. Borr Drilling delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 9.4% since the results and currently trades at $5.60. Read our full analysis of Borr Drilling’s results here. What began in 1926 with two brothers logging the first electrical measurements in a well, SLB (NYSE:SLB) provides technology and services to help oil and gas companies locate reservoirs, drill wells, and produce hydrocarbons. SLB reported revenues of $8.72 billion, down 6.3% year on year. This number topped analysts’ expectations by 1%. However, it was a slower quarter as it recorded a miss of analysts’ EBITDA estimates. The stock is up 4.5% since reporting and currently trades at $57.21. Read our full, actionable report on SLB here, it’s free. With roots dating back to the first commercial oil boom, Core Laboratories (NYSE:CLB) analyzes rock and fluid samples from oil and gas reservoirs to help energy companies optimize production and recovery. Core Laboratories reported revenues of $121.8 million, down 1.4% year on year. This result beat analysts’ expectations by 0.7%. More broadly, it was a disappointing quarter as it logged a significant miss of analysts’ EBITDA and EPS estimates. The stock is down 17.8% since reporting and currently trades at $14.22. Read our full, actionable report on Core Laboratories here, it’s free. Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure? These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. StockStory’s analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.

HAMILTON, Bermuda, May 20, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the three months ended March 31, 2026. Highlights First Quarter total operating revenues of $247.0 million, a decrease of $12.4 million or 5% compared to the fourth quarter of 2025 First Quarter net loss of $29.0 million compared to net loss of $1.0 million in the fourth quarter of 2025 First Quarter Adjusted EBITDA of $88.5 million, a decrease of $16.7 million or 16% compared to the fourth quarter of 2025 Completed the acquisition of five premium jack-up rigs from Noble Corporation in January 2026 for a total purchase price of $360 million Entered into agreements to acquire five premium jack-up rigs via new 50/50 joint venture for a total purchase price of $287 million Subsequent to quarter-end, completed an offering of $300 million aggregate principal amount of senior unsecured convertible notes due 2033, with proceeds primarily used to repurchase existing convertible bonds due 2028 Year-to-date 2026, the Company has been awarded 13 contract commitments, representing more than 2,250 days and $274 million of Dayrate Equivalent Backlog. In addition, the Company recognized contract commitments of a further 772 days upon completing its acquisition from Noble Corporation. Chief Executive Officer Bruno Morand commented: "Our operational performance in the first quarter of 2026 resulted in technical utilization of 99.4% and economic utilization of 97.0%. Revenue for the period was $247.0 million, while first-quarter Adjusted EBITDA was $88.5 million, primarily impacted by the late contract start-up of the Odin, in addition to a credit loss provision of $8.4 million. In the quarter, the Odin completed its mobilization from Mexico to the U.S. Gulf where operations were expected to start in February. However, start-up was delayed by additional contract preparation work and regulatory approvals. Looking ahead, we expect second quarter results to continue to be affected by the delayed start-up of the Odin, now anticipated to commence late June, as well as rigs transitioning between contracts. Our contracting strategy continues to focus on covering near-term uncontracted days, balancing dayrates with contract tenor. Since our last earnings report, we have secured eight contract commitments, representing over 1,100 days of additional firm work. Our full-year 2026 contract coverage increased to 71% at an average dayrate of approximately $137,000 and coverage in the second half of the year now stands at 65%, as compared to 48% in our prior earnings report. In the first quarter, we entered into an agreement for the acquisition of five premium jack-up rigs through a new joint venture in Mexico with an attractive valuation and financing structure. Upon closing, our fleet will in effect expand to 34 modern rigs. In April, we strengthened our capital structure through a $300 million convertible note offering, used to largely repurchase our existing 2028 convertible bonds. This transaction extended our maturity profile, lowered our financing cost, and increased the conversion price. While the Middle East conflict has created near-term uncertainty, key tenders in the region continue to progress, with some modest delays. More broadly, in our view, recent events have strengthened the longer-term outlook for the sector providing for a higher oil price and a renewed focus on energy security. Shallow-water basins continue to represent an attractive resource, offering low-cost, short-cycle barrels that enable our customers to respond rapidly to the market backdrop. Due to the planning and budgeting processes of our customers, we expect that improved activity and dayrates will lag the oil price development by 6 to 12 months, as evidenced after the military invasion of Ukraine, when dayrates strongly increased. Therefore, we are increasingly confident about the Company's prospects for 2027 and 2028 as we expect the disruptions from the conflict in the Middle East to be both substantial and long lasting. With this backdrop, Borr Drilling's expanded fleet is well placed to support our customers' demand and deliver long-term shareholder value as the cycle develops." Conference Call A conference call and webcast are scheduled for 09:00 New York time (15:00 CEST) on Thursday, May 21, 2026. In order to listen to the live presentation, participants may do one of the following: a) Webcast To access the webcast, please go to the following link:https://edge.media-server.com/mmc/p/inc8qdus b) Conference Call Please use the below link to register for the conference call: https://register-conf.media-server.com/register/BIce9fcdcdcdf44d4d947622b4da3afbd6 Participants will then receive dial-in details on screen and via email and may choose to dial in with their unique pin or select "Call me" and provide telephone details for the system to link them automatically. Participants are encouraged to dial in 10 minutes before the start of the call. Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208 This information was brought to you by Cision http://news.cision.com https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited-announces-first-quarter-2026-results,c4351300 The following files are available for download: View original content:https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html