Noble Q1 revenue falls 10% to $786M; backlog surges 33% to $7.2B on new contracts

Filed April 27, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 29, 2025 · ~1 min read

Key Changes

• high

  Operating revenues declined 10% YoY to $785.7M despite net income rising 11% to $120.7M, driven by $89.5M gain from selling five jackup rigs and reduced integration costs.

  MD&A: Financial Results verify on EDGAR →
• high

  Contract backlog increased 33% to $7.2B from $5.4B, with 67% of available days committed for remainder of 2026 versus 54% in prior year, signaling stronger forward visibility.

  MD&A: Backlog verify on EDGAR →
• high

  Floater utilization fell from 74% to 65% with operating days down 18%, though average dayrates rose 11% to $422,076, partially offsetting volume headwinds.

  MD&A: Fleet Performance verify on EDGAR →