SBM Offshore Raises 2026 Guidance After Record First Half

Earnings
โดย GuruFocus·NL·Read original
Summary · why it matters

SBM Offshore raised its full-year 2026 guidance after reporting a record first half. Directional revenue increased to $4.9 billion and directional EBITDA nearly doubled to $1.3 billion, driven by new contracts including the FPSO SEAP 1 and SEAP 2 awards from Petrobras and a feed contract for ExxonMobil Guyana's long-tail development. The company's backlog reached a record $35.6 billion, and it now expects full-year directional revenue of around $7.6 billion and directional EBITDA of around $1.9 billion. Fleet uptime remained around 99% across 16 operating units, and the company is on track to deliver a minimum of $2.1 billion in shareholder returns for 2026-2031. The sale of FPSO One Guyana and a minority interest in FPSO Dalji helped reduce net debt to $3.7 billion, though the company noted a fatality at a subcontractor's yard in China and ongoing working capital drag.

Impact on stocks 3

Energy▲ · 2 stocks
SBM Offshore N.V.
SBMO
▲ PositiveCapitalrelevance

Record first half, raised 2026 guidance, and strong backlog drive positive earnings outlook.

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveDemandrelevance

Feed contract for ExxonMobil Guyana's long-tail development boosts SBM's backlog, indirectly positive for Exxon's project progress.

© 2026 MarketDXNews