Seadrill Sees FY24 Revenue $1.355B-$1.405B Vs $1.45B Est.
Portfolio Pulse from Benzinga Newsdesk
Seadrill revised its full-year 2024 guidance, now expecting revenues between $1.355 billion and $1.405 billion, down from the previous estimate of $1.45 billion. The revision is due to the Gulfdrill sale, delayed contract start dates for West Auriga and West Polaris, and uncommitted capacity for Sevan Louisiana and West Phoenix. Adjusted EBITDA is now expected to be between $315 million and $365 million.
August 05, 2024 | 9:11 pm
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Seadrill revised its FY24 revenue guidance to $1.355B-$1.405B, down from $1.45B, due to the Gulfdrill sale and delayed contract start dates. Adjusted EBITDA is now expected to be $315M-$365M.
The downward revision in revenue and EBITDA guidance is likely to negatively impact Seadrill's stock price in the short term. The delays in contract start dates and uncommitted capacity contribute to the reduced financial outlook.
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