Seadrill Shares Rise as SDRL Beats Q1 Revenue Estimates, Flags Stronger 2026 Cash Flow

Seadrill Ltd. (NYSE: SDRL) rose after the offshore drilling contractor reported first-quarter 2026 revenue above Wall Street expectations and said contract repricing and rig reactivations should support stronger cash flow this year. Revenue increased 6.9% from a year earlier to $358 million, while the company posted a non-GAAP loss of 8 cents per share, narrower than analysts expected. Adjusted EBITDA was $97 million, supported by higher utilization, early completion of work on the West Telus and West Capella rigs, and rigs moving onto higher dayrate contracts. Management said demand for deepwater drilling, new contract awards and mobilization payments are expected to improve free cash flow in 2026. Seadrill shares traded at $49.94 after the report, up from $48.32 before the earnings release.