Noble Corporation Plc A · NYSE:NE
Noble Corporation Plc A — Noble — Q1 2025 Earnings Presentation
12 slides from Noble Corporation Plc A's earnings presentation, Apr 29, 2025
Slide 1: First Quarter 2025 Earnings Conference Call
Noble Corporation plc First Quarter 2025 Earnings Conference Call April 29, 2025
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. All statements other than statements of historical facts included in this communication are forward
Slide 3: Summary
Summary $2.2-$2.7B and ~15 Rig Years in New Contracts, Backlog +30% to $7.5B(1) Multi-year / multi-rig Shell and Total awards, Discoverer, Viking, Regina Allen, Intrepid Resilient Return of Capital Program ~$100M capital returned in Q1 via $0.50 dividend and $20M buybacks. Q2 dividend maintained at
Slide 4: First Quarter Financial Highlights
First Quarter Financial Highlights Capital expenditures, net of insurance Adjusted EBITDA Adjusted EBITDA margin Free cash flow proceeds $338M 39% $98M $173M $319M 34% $2M $134M Net debt Net Leverage Backlog Liquidity $1,675M 1.2x $834M $7.5B(1) $1,733M 1.4x $5.8B $773M Prior quarter figures for Q4
Slide 5: Current Backlog Stands at $7.5 Billion
Current Backlog Stands at $7.5(1) Billion Backlog ($B) and Contract Coverage 58% 41% 29% 20% 5% Floaters 2.1 Jackups 1.9 1.5 1.1 0.9 2025 2026 2027 2028 2029-2031 Percentage of available days committed2 1) Reflects approximately 40% assumed performance revenue realized on a combined basis under the
Slide 6: Drillship Fleet Overview
Drillship Fleet Overview 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Faye Kozack (7g dual BOP) Recent Highlights Noble Stanley Lafosse (7g dual BOP) Noble Valiant (7g dual BOP) • Shell US Gulf Award: Voyager and another V- Noble Venturer (7g dual BOP) class drillship TBN, 4 years in the
Slide 7: Semisubmersible Fleet Overview
Semisubmersible Fleet Overview 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Noble Deliverer (6g) Recent Highlights Noble Developer (6g) • Developer: 16 wells (est 1,060 days) Noble Discoverer (6g) with TotalEnergies in Suriname. Plus Ocean GreatWhite (HE 6g) four one-well extension options. Oc
Slide 8: Jackup Fleet Overview
Jackup Fleet Overview 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ULTRA HARSH ENVIRONMENT Recent Highlights Noble Innovator (CJ70) • Regina Allen: one well (est 65 days) in Noble Integrator (CJ70) Suriname Noble Interceptor (CJ70) Noble Intrepid (CJ70) • Intrepid: one well (est 50-90 days) in
Slide 9: Financial Overview
Financial Overview ($ millions) Quarter End Quarter End 3/31/2025 12/31/2024 Revenue 874 927 Adjusted EBITDA 338 319 margin % 39% 34% Net Income 108 97 Diluted EPS 0.67 0.59 Cash flow from operations 271 136 Cash paid for capital expenditures, net of proceeds 98 134 from insurance claims Free cash f
Slide 10: Full Year 2025 Guidance, Unchanged
Full Year 2025 Guidance, Unchanged $ millions Revenue 3,250 – 3,450 Adjusted EBITDA 1,050 – 1,150 Capital Expenditures, net of reimbursements 375 – 425 10
Slide 11: Appendix: Reconciliation to GAAP Measures
Appendix: Reconciliation to GAAP Measures Three Months Reconciliation of Adjusted EBITDA Three Months Ended March 31, Ended 2025 2024 December 31, 2024 Net income (loss) $ 108,303 $ 95,481 $ 96,648 Income tax (benefit) provision 40,406 (10,213) 27,814 Interest expense, net of amounts capitalized 40,
Slide 12: First Choice Offshore
First Choice Offshore™