Seadrill Ltd (OSL:SDRL)

kr 421 -12.2 (-2.82%) Market Cap: 26.71 Bil Enterprise Value: 24.31 Bil PE Ratio: 5.32 PB Ratio: 0.60 GF Score: 57/100

Q3 2024 Seadrill Ltd (Hamilton) Earnings Call Transcript

Nov 13, 2024 / 02:00 PM GMT

Transcript

Key Points

Positve

Seadrill Ltd (SDRL) exceeded expectations with $93 million in adjusted EBITDA, leading to an increase in full-year guidance by 13% to $385 million.
The company successfully secured additional work for the Svan Louisiana, contributing to the improved financial outlook.
Seadrill Ltd (SDRL) has a strong balance sheet and a significant cash position, providing resilience in a competitive market.
The company has achieved 70% contract utilization for its fleet in 2025, with expectations for further improvement.
Seadrill Ltd (SDRL) has been recognized for its performance in Brazil, with five rigs working for Petrobras, highlighting its strong market position in a key region.

Negative

The market for drillships is becoming increasingly competitive, with utilization slipping below 90% and expected to trend lower.
Seadrill Ltd (SDRL) faces challenges in securing contracts for some rigs, such as the Svan Louisiana, West Capella, and Sono drillships, due to market uncertainties.
The company anticipates lower run-rate EBITDA for the fourth quarter due to reduced operating activity and increased OpEx.
There is a scarcity of immediately available visible opportunities, leading to slow contracting activity and potential downward pressure on rates.
Seadrill Ltd (SDRL) is facing near-term headwinds, including idle time, inflation, and required fleet investment, impacting its operations.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SDRL.N - Seadrill Ltd (Hamilton)
Q3 2024 Seadrill Ltd (Hamilton) Earnings Call
Nov 13, 2024 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the Sea drill. Third quarter, 2024 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question at that time, please press star one on your telephone keypad. I would now like to turn the conference over to Lydia Mabry, Director of Investor Relations. You may begin.

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Unidentified_2 [2]
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Welcome to Cre's third quarter. 2024 earnings call. Today's call will feature prepared remarks from Simon Johnson,

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