Filing Flows › Noble (NE) › Q2 2026 › vs Q1 2026
Noble (NE) Q2 2026 vs Q1 2026 (quarter over quarter)
Noble's revenue fell $66.0M (-8%) from $786M in Q1 2026 to $720M in Q2 2026. The biggest changes: Oil and Gas Service −$63.1M (-8%); Service, Other −$2.9M (-7%).
Noble, Q2 2026: revenue $720M (-15% year over year), operating margin 4.2%, net loss $36.7M, operating cash flow $144M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Floaters | $551M | $621M | −$69.6M | -11% |
| Jackups | $129M | $122M | $6.5M | +5% |
| Oil and Gas Service | $679M | $743M | −$63.1M | -8% |
| Service, Other | $40.2M | $43.1M | −$2.9M | -7% |
| Revenue | $720M | $786M | −$66.0M | -8% |
| Net loss | $36.7M | −$121M | $157M | — |
| Costs & expenses | $756M | $786M | −$29.3M | -4% |
| Operating costs | $689M | $560M | $129M | +23% |
| Interest & other, net | $50.9M | $31.6M | $19.2M | +61% |
| Income tax | $16.3M | $72.9M | −$56.7M | -78% |
| General & admin | $26.9M | $30.0M | −$3.1M | -10% |
| Other operating costs | $662M | $530M | $132M | +25% |
| Operating cash sources | $181M | $153M | $28.3M | +19% |
| Share-based compensation | $10.7M | $9.5M | $1.2M | +13% |
| Working capital & other | $170M | $143M | $27.1M | +19% |
| Net loss absorbed | $36.7M | −$121M | $157M | — |
| Operating cash flow | $144M | $273M | −$129M | -47% |
| Capital expenditures | $205M | $104M | $101M | +97% |
| Negative free cash flow (OCF − capex) | $60.4M | −$169M | $230M | — |
Questions
How much did Noble's revenue grow quarter over quarter in Q2 2026?
Noble's revenue fell $66.0M (-8%) from $786M in Q1 2026 to $720M in Q2 2026.
What drove Noble's revenue change in Q2 2026?
Oil and Gas Service −$63.1M (-8%); Service, Other −$2.9M (-7%).