Norway · Delayed Price · Currency is NOK Odfjell Drilling Earnings Call Transcripts
Fiscal Year 2025
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Record Q4 and full-year results driven by the Deepsea Bollsta acquisition, major refinancing, and nearly $1 billion in new contract backlog. Strong market outlook, robust dividend growth, and high utilization position the company for continued success.
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Record Q3 results with revenue of $234M, EBITDA of $119M, and net profit of $55M, driven by 99% financial utilization and strong operational performance. Dividend increased to $0.20/share, with a robust backlog and positive market outlook supporting further growth.
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Record Q2 results with $109M EBITDA and $42M net profit, driven by higher day rates and operational excellence. All fleet upgrades are complete, CapEx is set to decline, and dividend increased to $0.18/share, with strong outlook and robust contract backlog.
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Record Q1 results with $100M EBITDA and $204M revenue, driven by higher day rates and strong operational execution. Dividend increased to $0.16 per share, with a $1.8B backlog and positive outlook in Norway. Leverage ratio improved to 1.4 and equity ratio to 64%.
Fiscal Year 2024
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Record Q4 revenue and EBITDA were achieved, driven by high fleet utilization and rising day rates, with a significant dividend increase reflecting strong cash flow. The backlog is secure at higher rates, and further dividend hikes are anticipated as CAPEX commitments ease.
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Q3 2024 delivered strong operational and financial results, with $186 million in revenue, $83 million EBITDA, and a $19 million net profit. Backlog remains robust at $1.1 billion, day rates are rising, and a dividend increase is expected for Q4.
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Q2 2024 saw strong operational and financial performance, with 98% fleet utilization, $85M EBITDA, and a $2.1B backlog. Upgrades and new contracts position the company for higher day rates and increased dividends, supported by robust market demand and ongoing deleveraging.