Seadrill Limited (SDRL) Raises 2026 Outlook Following Earnings Beat and New Contract Wins

Seadrill Limited (NYSE: SDRL ) ranks among the best oil and gas drilling stocks to buy now . On May 11, Seadrill Limited (NYSE:SDRL) posted better-than-expected earnings for the first quarter of 2026, with an EPS of -$0.11, much better than the predicted -$0.2758. The company also outperformed revenue forecasts by $358 million, compared to a predicted $326.75 million, representing a 9.56% surprise. Seadrill Limited (NYSE:SDRL) also increased its full-year 2026 outlook, estimating operational revenues of $1.43 billion to $1.48 billion, minus reimbursable revenues. The company forecasts EBITDA to be between $370 million and $420 million, reflecting improved project management and operational efficiency. The same day, Seadrill Limited (NYSE:SDRL) issued its Fleet Status Report, which detailed contract coverage related to its 14 active offshore drilling rigs and provided insight into activities until early 2031. The report also highlighted recent contract awards, including West Capella's deployment to Malaysia for PTTEP, which has a total contractual worth of about $157 million for a 440-day period beginning March 2027, with pricing options available for a further 150 days. Seadrill Limited (NYSE:SDRL) provides offshore drilling services. It owns and operates drill ships, semi-submersibles, and jack-ups. It works in three segments: harsh environment, floaters, and jack-up rigs. While we acknowledge the potential of SDRL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years