Noble Corporation plc (NYSE:NE) announced its second‑quarter 2026 financial results, reporting adjusted earnings per share of $0.01, well below the analyst consensus of $0.19. Revenue for the quarter was $720 million, marginally above the $710.51 million estimate but representing a 15% year‑over‑year decline from $849 million in Q2 2025. The company posted a net loss of $37 million, or $0.23 per diluted share, contrasting with a net profit of $43 million in the comparable prior‑year period. Adjusted EBITDA fell to $212 million from $282 million a year earlier.
The earnings shortfall was attributed primarily to the operational suspension of two offshore rigs in Brazil—the Noble Faye Kozack and Noble Courage—which together reduced revenue by approximately $43 million. Additional pressure stemmed from the conclusion of the Noble Globetrotter I contract in the Black Sea, further curtailing activity.
For the full fiscal year 2026, Noble lowered its revenue guidance to a range of $2.8 billion to $2.9 billion, with a midpoint of $2.85 billion, falling short of the analyst consensus of $2.968 billion. Adjusted EBITDA guidance was also reduced to $850 million‑$925 million, down from the prior range of $940 million‑$1.02 billion. The company maintained its capital‑expenditure outlook at $615 million‑$665 million for the year.
"Our second quarter was adversely impacted by $43 million due to the operational suspension of both of our rigs in Brazil, while operational and financial performance was otherwise strong across the board," said Robert W. Eifler, President and Chief Executive Officer.
Since April, Noble added roughly $200 million of new contract value, including a six‑well contract for the Noble Viking in the Asia‑Pacific region and a three‑well contract for the Noble Claus Bachmann with BP in the UK North Sea. The company's total backlog now stands at $6.8 billion.
Noble also declared a cash dividend of $0.50 per share for the third quarter, payable on September 24 to shareholders of record on September 3.