Filing Flows › Noble (NE) › Q2 2026 › vs Q2 2025
Noble (NE) Q2 2026 vs Q2 2025 (year over year)
Noble's revenue fell $129M (-15%) from $849M in Q2 2025 to $720M in Q2 2026. The biggest changes: Oil and Gas Service −$133M (-16%); Service, Other +$3.7M (+10%).
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 Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Floaters | $551M | $684M | −$133M | -19% |
| Jackups | $129M | $128M | $761K | +0.6% |
| Oil and Gas Service | $679M | $812M | −$133M | -16% |
| Service, Other | $40.2M | $36.6M | $3.7M | +10% |
| Revenue | $720M | $849M | −$129M | -15% |
| Net loss | $36.7M | −$42.9M | $79.6M | — |
| Costs & expenses | $756M | $849M | −$92.3M | -11% |
| Operating costs | $689M | $713M | −$24.2M | -3% |
| Interest & other, net | $50.9M | $35.3M | $15.6M | +44% |
| Income tax | $16.3M | $57.1M | −$40.8M | -71% |
| General & admin | $26.9M | $35.0M | −$8.0M | -23% |
| Other operating costs | $662M | $678M | −$16.2M | -2% |
| Operating cash sources | $181M | $173M | $7.4M | +4% |
| Share-based compensation | $10.7M | $8.5M | $2.2M | +26% |
| Working capital & other | $170M | $165M | $5.1M | +3% |
| Net loss absorbed | $36.7M | −$42.9M | $79.6M | — |
| Operating cash flow | $144M | $216M | −$72.2M | -33% |
| Capital expenditures | $205M | $117M | $87.9M | +75% |
| Negative free cash flow (OCF − capex) | $60.4M | −$99.8M | $160M | — |
Questions
How much did Noble's revenue grow year over year in Q2 2026?
Noble's revenue fell $129M (-15%) from $849M in Q2 2025 to $720M in Q2 2026.
What drove Noble's revenue change in Q2 2026?
Oil and Gas Service −$133M (-16%); Service, Other +$3.7M (+10%).