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Public Storage Q3 Earnings Call Highlights

Noble said recent contract awards added $560 million to backlog as day rates improved and 109 of 110 marketed ultra-deepwater rigs are contracted.

  • Noble Corporation PLC reported third quarter 2026 revenue of $684 million with Adjusted EBITDA of $201 million, while total backlog reached $6.7 billion.
  • New contract awards totaling approximately $560 million secured over three months supported 99% utilization for marketed ultra-deepwater rigs, confirming recovery in high-end offshore drilling demand.
  • Management narrowed full-year 2026 revenue guidance to $2.85 billion to $2.9 billion, with Adjusted EBITDA projected between $850 million and $900 million. Higher reimbursable revenue drove the adjustment.
  • Despite third-quarter free cash flow of-$48 million, the board declared a $0.50 per share dividend for the fourth quarter, maintaining Noble Corporation's consistent return of capital program.
  • Contracted fleet capacity will increase approximately 20% in the second half of 2027 versus the first half, providing Noble Corporation a clear line of sight to significant cash flow inflection.
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Lincoln Journal Star broke the news in Cherokee County, United States on Monday, October 26, 2026.
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