Noble swung to a loss in the second quarter and cut its guidance, citing the suspension of two rigs in Brazil.

The offshore drilling contractor said its second quarter includes a $43 million impact from the operational suspension of its two rigs in Brazil.

Noble said it now expects full-year revenue between $2.8 billion and $2.9 billion, cutting the top end of its guidance from $3 billion. The revision largely reflects the reduced revenue from the two Brazilian rigs, as well as a re-sequencing of the company's backlog.

"Despite these near-term revenue headwinds, the market outlook continues to look promising in 2027 and beyond for both deepwater and harsh environment rigs, as demonstrated by recent contract fixtures at increasing dayrates," Chief Executive Officer Robert Eifler said.

Noble on Monday reported a second-quarter loss of $37 million, or 23 cents a share, compared with a profit of $43 million, or 27 cents a share, a year earlier.

Stripping out certain one-time items, the company reported adjusted earnings of 1 cent a share. Analysts polled by FactSet were expecting 15 cents a share.

Revenue fell to $720 million from $849 million, beating analyst expectations for $698 million in revenue.

Apart from the suspension of the rigs in Brazil, "operational and financial performance was otherwise strong across the board," Eifler said.

Shares in Noble fell 4.4% to $41.20 in after-hours trading on Monday, after closing down 0.4% at $43.11. At close, the stock was up 53% this year.

Write to Elias Schisgall at elias.schisgall@wsj.com

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The company also declared an interim quarterly dividend of 50 cents a share. The dividend, which will be paid on Sept. 24 to shareholders of record as of Sept. 3, represents a 1.2% yield based on the company's Monday closing price of $43.11.

(END) Dow Jones Newswires

July 27, 2026 17:02 ET (21:02 GMT)

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