Filing Flows › Seadrill (SDRL) › Q2 2025
Seadrill (SDRL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Seadrill (SDRL) reported revenue of $377M for the second quarter 2025 (Q2 2025), +0.5% from a year earlier and +13% from the quarter before. Operating margin was 1.6%, net loss $42.0M (11.1% of revenue).
Seadrill, Q2 2025: revenue $377M (+0.5% year over year), operating margin 1.6%, net loss $42.0M, operating cash flow $11.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $377M | +13% | +0.5% |
| Operating profit | $6.0M | -67% | — |
| Net earnings | −$42.0M | — | — |
| Operating cash flow | $11.0M | — | -86% |
What changed
Revenue was $377.0M in Q2 2025, up 1% year over year and up 13% from the previous quarter.
Operating profit was $6.0M, a 1.6% margin (down 75.2 points year over year). Operating profit fell $282.0M even though revenue rose $2.0M versus a year earlier, so costs grew faster than sales. Total costs grew 326% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+448%). The quarter ended with a net loss of $42.0M, wider than the previous quarter's $14.0M loss.
Operating cash flow was $11.0M (down 86% year over year). Non-cash charges added back $56.0M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items used $8.0M. Capital expenditures of $23.0M exceeded it, leaving free cash flow of −$12.0M.
Questions
What was Seadrill's revenue in the second quarter 2025?
Seadrill (SDRL) reported revenue of $377M for the second quarter 2025 (Q2 2025), +0.5% from a year earlier and +13% from the quarter before.
Was Seadrill profitable in the second quarter 2025?
Operating profit was $6.0M (1.6% of revenue) and net loss $42.0M.
Source: Seadrill 10-Q on SEC EDGAR.