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Odfjell Drilling: high day rates offset Deepsea Atlantic outage

Odfjell Drilling reported Q2 revenue rising to $251m (+14.6%), EBITDA of $162m (margin 64.5%) and net profit of $57m. Higher day rates and insurance proceeds compensated for the 106-day outage of the Deepsea Atlantic; net debt fell to around $862–863m with available liquidity of $308m. The quarterly dividend remains $0.25 per share, the firm backlog increased to $2.1bn and the fleet is largely contracted through the end of 2027, supporting the outlook. » More on de.investing.com
Odfjell Drilling posts strong quarter and gives operational reassurance, stock rises

Odfjell Drilling reported a net profit of $57m for Q2 on revenues of $251m; insurance proceeds of $82m offset costs from equipment losses and downtime. The rig Deepsea Atlantic is fully operational again after a 73-day outage, and the growing fleet — including the Deepsea Bergen under contract with Equinor — improves revenue visibility for H2. The stock rose 5.2% to NOK 96.8, outperforming Oslo and industry peers, supported by an expected dividend yield profile of over 10%. » More on de.investing.com

Historical dividends Dividends

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In 2026, Odfjell Drilling has already paid €0.63 in dividends. The last payout was in September.

Financials

In the last quarter, Odfjell Drilling had revenue of €210.64m and net profit of €47.49m

(EUR)	June 2026	YoY
Revenue	210.64m	129.88%
Gross profit	-84.05k	100.16%
Net profit	47.49m	34.23%
EBITDA	68.84m	24.56%

Fundamentals

Metric	Value
Market capitalization	€2.45bn
Number of shares	239.81m
52-week high/low	€10.68 - €7.27
Dividend yield	7.78%
Dividends TTM	€0.80
Beta	0.30
P/E ratio	12.06
PEG ratio	0.10
P/B ratio	1.90
P/S ratio	2.73

Company profile

Odfjell Drilling Ltd. owns and operates mobile offshore drilling units in Norway, the United Kingdom, Europe, Asia, Africa, and internationally. It operates through Mobile Offshore Drilling Units business (MODU), Energy business (Energy), and Well Services business (OWS) segments. The MODU segment offers management services to other owners of drilling units; and operational management, regulatory requirements management, marketing, contract negotiations and client relations, and operation and mobilization preparation services. The Energy segment provides integrated drilling and maintenance services for fixed platform drilling rigs in the North Sea, as well as engineering services, including design, project management, and operation and support services. The OWS segment offers casing and tubular running services; wellbore cleaning; and drilling tool and tubular rental services for exploration wells and production purposes. The company was founded in 1914 and is headquartered in Aberdeen, the United Kingdom. Odfjell Drilling Ltd. is a subsidiary of Odfjell Partners Ltd.