Noble Corporation Announces Leadership Changes Amid 2024 Earnings Release
United States, Tuesday, 18 February 2025.
Noble reveals strategic executive changes alongside reporting $927 million in Q4 2024 revenue and integrating $50 million synergies from the Diamond acquisition to enhance shareholder value.
Strong Financial Performance
Noble Corporation plc (NYSE: NE) has reported robust fourth-quarter 2024 results, with total revenue reaching $927 million and net income of $97 million [1]. The offshore drilling contractor demonstrated solid financial management, returning over $575 million to shareholders through dividends and share buybacks throughout 2024 [1]. The company’s stock, trading at $29.12 as of February 14, 2025, maintains a significant dividend yield of 6.9% [5].
Diamond Integration Progress
A key highlight of Noble’s strategic execution is the successful integration of the Diamond acquisition, with CEO Robert Eifler confirming that over $50 million of the targeted $100 million in synergies have been realized [1]. The company has also demonstrated its commitment to operational efficiency by announcing the retirement of two cold-stacked drillships, the Pacific Meltem and Pacific Scirocco [3].
Growing Contract Backlog
The company has secured approximately $525 million in new contract awards since November 2024, building its total backlog to $5.8 billion as of February 17, 2025 [1]. Notable contracts include a $171 million agreement for the Noble Venturer with Tullow in Ghana and an $84 million contract for the Noble Developer with Petronas in Suriname [3].
Forward-Looking Outlook
Noble has provided strong guidance for 2025, projecting total revenue between $3,250 and $3,450 million, with Adjusted EBITDA expected to range from $1,050 to $1,150 million [1]. The company’s next quarterly dividend of $0.50 per share is scheduled for payment on March 20, 2025, to shareholders of record as of March 5, 2025 [1].