$NE-WTA

Noble Corp plc

CIK:0001895262|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating revenues
Operating revenues	$ 719,688	$ 848,652	$ 1,505,378	$ 1,723,139
Operating costs and expenses
Depreciation and amortization	139,582	147,085	276,922	290,222
General and administrative	26,944	34,976	56,992	70,184
Merger and integration costs	0	5,302	2,615	20,222
(Gain) loss on sale of operating assets, net	0	(4,751)	(89,858)	(4,751)
Loss on impairment	42,270	0	42,270	0
Total operating costs and expenses	689,213	713,399	1,249,595	1,400,547
Operating income (loss)	30,475	135,253	255,783	322,592
Other income (expense)
Interest expense, net of amounts capitalized	(36,203)	(39,997)	(76,762)	(80,464)
Gain (loss) on extinguishment of debt, net	(18,329)	0	(17,603)	0
Interest income and other, net	3,664	4,712	11,861	6,549
Income (loss) before income taxes	(20,393)	99,968	173,279	248,677
Income tax benefit (provision)	(16,291)	(57,096)	(89,238)	(97,502)
Net income (loss)	$ (36,684)	$ 42,872	$ 84,041	$ 151,175
Basic earnings (loss) per share (in usd per share)	$ (0.23)	$ 0.27	$ 0.53	$ 0.95
Diluted earnings (loss) per share (in usd per share)	$ (0.23)	$ 0.27	$ 0.52	$ 0.93
Contract drilling services
Operating revenues
Operating revenues	$ 679,444	$ 812,077	$ 1,421,997	$ 1,644,505
Operating costs and expenses
Cost of services	446,309	502,427	896,434	964,526
Reimbursables and other
Operating revenues
Operating revenues	40,244	36,575	83,381	78,634
Operating costs and expenses
Cost of services	$ 34,108	$ 28,360	$ 64,220	$ 60,144

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ 84,041	$ 151,175
Adjustments to reconcile net income (loss) to net cash flow from operating activities:
Depreciation and amortization	276,922	290,222
Amortization of intangible assets and contract liabilities, net	0	(8,366)
(Gain) loss on extinguishment of debt, net	17,603	0
(Gain) loss on sale of operating assets, net	(89,858)	(4,751)
Loss on impairment	42,270	0
Deferred income taxes	60,101	47,127
Amortization of share-based compensation	20,255	15,574
Other costs, net	898	(10,125)
Net changes in operating assets and liabilities	5,217	6,561
Net cash provided by (used in) operating activities	417,449	487,417
Cash flows from investing activities
Capital expenditures	(308,383)	(230,117)
Proceeds from insurance claims	1,584	22,201
Proceeds from disposal of assets, net	206,400	16,190
Net cash provided by (used in) investing activities	(100,399)	(191,726)
Cash flows from financing activities
Issuance of debt	800,000	0
Repayments of debt	(850,000)	0
Debt extinguishment costs	(40,727)	0
Debt issuance costs	(17,418)	0
Warrants exercised	3,053	38
Share repurchases	0	(20,000)
Dividend payments	(163,220)	(160,921)
Withholding tax related to employee stock transactions	(9,720)	(9,447)
Finance lease payments	(62,526)	(12,187)
Net cash provided by (used in) financing activities	(340,558)	(202,517)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(23,508)	93,174
Cash, cash equivalents, and restricted cash, beginning of period	479,960	252,279
Cash, cash equivalents, and restricted cash, end of period	$ 456,452	$ 345,453

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 456,208	$ 471,399
Accounts receivable, net	547,814	589,597
Taxes receivable	58,960	78,827
Prepaid expenses and other current assets	112,241	132,459
Total current assets	1,175,223	1,272,282
Property and equipment, at cost	6,958,223	6,639,045
Accumulated depreciation	(1,504,613)	(1,236,222)
Property and equipment, net	5,453,610	5,402,823
Other assets	610,273	854,662
Total assets	7,239,106	7,529,767
Current liabilities
Accounts payable	323,958	298,751
Accrued payroll and related costs	52,020	81,754
Taxes payable	59,521	83,256
Interest payable	21,341	35,827
Other current liabilities	156,976	260,141
Total current liabilities	613,816	759,729
Long-term debt	1,888,430	1,975,791
Deferred income taxes	5,703	5,402
Other liabilities	247,215	239,995
Total liabilities	2,755,164	2,980,917
Commitments and contingencies (Note 8)
Shareholders’ equity
Common stock, $0.00001 par value; 159,641,226 and 158,853,799 ordinary shares outstanding as of June 30, 2026, and December 31, 2025, respectively	1	1
Additional paid-in capital	4,270,647	4,257,059
Retained earnings	207,830	286,630
Accumulated other comprehensive income (loss)	5,464	5,160
Total shareholders’ equity	4,483,942	4,548,850
Total liabilities and equity	$ 7,239,106	$ 7,529,767