Noble Corp. sees FY24 revenue $2.55B-$2.7B, consensus $2.66B

For the full year 2024, Noble is maintaining guidance as follows: Adjusted EBITDA in a range of $925 to $1,025 million, and capital additions in a range of $400 to $440 million. Commenting on Noble’s outlook, Robert Eifler, President and Chief Executive Officer of Noble Corporation stated, “Offshore drilling fundamentals, especially for high-spec floaters, remain supportive of a continuing multi-year uptrend in both dayrates and average term duration, while near-term white space for lower-spec units persists as a 2024 headwind. Our outlook for an earnings and cash flow inflection in the second half of this year is well supported by several meaningful contract startups that are on schedule to commence over the next several months. As Noble progresses into this next stage of earnings growth, we will remain committed to returning the significant majority of free cash flow to shareholders via dividends and share repurchases.”