Norway · Delayed Price · Currency is NOK Ventura Offshore Holding Earnings Call Transcripts
Fiscal Year 2025
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Q4 saw strong operational and financial performance, with high rig uptime, $21.9M adjusted EBITDA, and a $539M backlog. Market outlook is optimistic, driven by robust demand in Southeast Asia, India, Africa, and stable conditions in Brazil, pending Petrobras contract renegotiations.
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Q3 delivered strong operational and financial results, with high rig uptime, $19.7M adjusted EBITDA, and a $576M backlog. Petrobras renegotiations may delay contract awards, but market outlook in Brazil and Southeast Asia remains positive.
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Q2 saw strong adjusted EBITDA and net income, with long-term contracts secured for key rigs and a robust backlog. Operational uptime dipped due to maintenance, but fleet performance has since recovered. Market outlook remains positive, especially in Brazil and Southeast Asia.
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Q1 2025 saw strong safety and financial results, with $16.7M adjusted EBITDA and $22.5M net income, despite a 61-day rig interdiction. Backlog reached $679M, and rigs are contracted through 2026 and beyond, with robust demand expected in Brazil and Southeast Asia.
Fiscal Year 2024
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Secured a major Petrobras contract, boosting backlog and long-term visibility. Q4 Adjusted EBITDA was $17.4M, with strong cash and cost discipline despite operational challenges. Stable rig demand and recontracting activity in Brazil support a positive outlook.
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Q3 2024 saw strong operational and financial performance, with all rigs under contract and high utilization. Adjusted EBITDA was $21.4M, net income $26.3M, and a $401M backlog. Petrobras' robust drilling plans and new tenders support a positive outlook.