Filing Flows › Seadrill (SDRL) › Q3 2026
Seadrill (SDRL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Seadrill (SDRL) reported revenue of $428M for the third quarter 2026 (Q3 2026), +18% from a year earlier and -5% from the quarter before. Operating margin was 10.3%, net loss $30.0M (7.0% of revenue).
Seadrill, Q3 2026: revenue $428M (+18% year over year), operating margin 10.3%, net loss $30.0M, operating cash flow $195M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $428M | -5% | +18% |
| Operating profit | $44.0M | -39% | +69% |
| Net earnings | −$30.0M | -203% | — |
| Operating cash flow | $195M | — | +596% |
| Free cash flow | $179M | — | — |
What changed
Revenue was $428.0M in Q3 2026, up 18% year over year and down 5% from the previous quarter.
Operating profit was $44.0M, a 10.3% margin (up 3.1 points year over year). Of the extra revenue versus Q3 2025, 28% reached operating profit, above the 7% margin then. Total costs grew 14% against revenue growth of 18%. The fastest-growing cost line was Other operating costs (+16%). The quarter ended with a net loss of $30.0M, after a profit of $29.0M the previous quarter. Net interest and other expense of $55.0M was the main reason.
Operating cash flow was $195.0M (up 596% year over year). Non-cash charges added back $77.0M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $144.0M. After itions to drilling units and equipment ($16.0M), free cash flow as the company reports it was $179.0M.
Questions
What was Seadrill's revenue in the third quarter 2026?
Seadrill (SDRL) reported revenue of $428M for the third quarter 2026 (Q3 2026), +18% from a year earlier and -5% from the quarter before.
Was Seadrill profitable in the third quarter 2026?
Operating profit was $44.0M (10.3% of revenue) and net loss $30.0M.
Source: Seadrill 10-Q on SEC EDGAR.