> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Noble's $133 Million Tax Bill On $16 Million Of Pre-Tax Profit Drives $117 Million Loss - URL: https://www.bullished.co/nobles-133-million-tax-bill-on-16-million-of-pre-tax-profit-drives-117-million-loss-860d4325/ - Published: 2026-10-27T16:31:04.000Z - Updated: 2026-10-27T16:31:04.000Z - Description: The offshore driller's quarterly tax provision dwarfed its pre-tax income, and backlog slipped to about $6.8 billion. - Author: Matteo Parrino - Tags: SEC Filings, NE, Industry: Energy [Noble](https://www.bullished.co/tag/ne/), the offshore drilling contractor, booked a [$133.0 million income tax provision](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000150/ne-20260930.htm?ref=bullished.co) against just $16.0 million of pre-tax income in the third quarter, turning a small operating profit into a $117.0 million net loss, or $0.73 per diluted share, its 10-Q shows. ## Tax charge swamps operations Operating income rose to $60.1 million from $50.4 million a year earlier, on revenue of $728.8 million, down from [$798.0 million](https://markets.ft.com/data/announce/detail?dockey=600-202610261645PR%5FNEWS%5FUSPRX%5F%5F%5F%5FDA81284-1&ref=bullished.co). Interest income and other swung to an expense of $9.1 million, which the company tied to a fair-value markdown of the seller loan it holds from the Borr jackup sale. The tax line was the problem. The provision included recurring quarterly accruals of $117.3 million, mostly in Ghana, Guyana, Luxembourg, Switzerland and the United States, plus $15.8 million of net expense from valuation-allowance adjustments, primarily in Switzerland. The [second-quarter filing](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000141/ne-20260630.htm?ref=bullished.co) showed a $16.3 million provision and recurring accruals of $39.3 million; the third quarter of 2025 carried a $31.7 million provision. For the first nine months, Noble reported a net loss of $33.0 million, against net income of $130.1 million a year earlier. ## A driller with a thinner backlog Noble, which owns and operates mobile offshore rigs and earns a fixed dayrate for each working day, had a fleet of 36 rigs at the end of 2025 and now lists 29\. Backlog stood at about $6.8 billion at September 30, down from about $7.1 billion at June 30\. A customer option on the Noble Viking was pushed from the fourth quarter of 2026 into 2027. Floater revenue fell to $563.4 million from $630.1 million a year earlier, and jackup revenue to $120.3 million from $127.3 million. The company's [earnings release](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000147/exhibit991-q32026pressrele.htm?ref=bullished.co) put adjusted EBITDA at $201 million and free cash flow at negative $48 million. CEO Robert W. Eifler said the company had secured about $560 million of new contract awards that support "a strengthening fleet utilization profile as we move through 2027." ## Dividend and asset sales continue The board declared a [$0.50 per share dividend](https://markets.ft.com/data/announce/detail?dockey=600-202610261645PR%5FNEWS%5FUSPRX%5F%5F%5F%5FDA81284-1&ref=bullished.co), payable December 17 to holders of record on November 25\. Noble ended the quarter with $337 million of cash and $1.9 billion of debt principal. In October it completed the sale of the Noble Resolve, with the sale of the Noble Globetrotter II expected to close in the fourth quarter for $38 million. For 2026, it narrowed revenue guidance to $2,850-$2,900 million and adjusted EBITDA guidance to $850-$900 million. Eifler said the company's contracted capacity in the second half of 2027 is already about 20% higher than in the first half. ### Sources - [10-Q Filing — Noble Corp. (NE)](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000150/ne-20260930.htm?ref=bullished.co) — SEC EDGAR - [10-Q Filing — Noble Corp. (NE), Q2 FY2026 filed 2026-07-28 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000141/ne-20260630.htm?ref=bullished.co) — SEC EDGAR - [Earnings release (8-K Item 2.02, exhibit991-q32026pressrele.htm) — Noble Corp., filed 2026-10-26](https://www.sec.gov/Archives/edgar/data/0001895262/000189526226000147/exhibit991-q32026pressrele.htm?ref=bullished.co) — SEC EDGAR - [Noble Corporation (NYSE:NE) posts better-than-expected sales in Q3 2026 but stock drops](https://uk.finance.yahoo.com/news/noble-corporation-nyse-ne-posts-212401467.html?ref=bullished.co) — Yahoo Finance - [Noble Corporation PLC (NE) Reports Q3 Loss, Tops Revenue Estimates](https://finance.yahoo.com/markets/stocks/articles/noble-corporation-plc-ne-reports-212502035.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance - [NOBLE CORPORATION PLC ANNOUNCES THIRD QUARTER 2026 RESULTS – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610261645PR%5FNEWS%5FUSPRX%5F%5F%5F%5FDA81284-1&ref=bullished.co) — Financial Times - [Noble Non-GAAP EPS of -$0.57 misses by $0.80, revenue of $729M beats by $16.25M (NYSE:NE)](https://seekingalpha.com/news/4657627-noble-non-gaap-eps-of-0%5F57-misses-by-0%5F80-revenue-of-729m-beats-by-16%5F25m?ref=bullished.co) — seekingalpha.com - [Noble Corporation (NE) Q3 earnings: what to expect](https://finance.yahoo.com/markets/stocks/articles/noble-corporation-ne-q3-earnings-034904522.html?ref=bullished.co) — Yahoo Finance ### More on Noble - [Noble CEO: 'I Don't Think We've Seen Any Demand' From Higher Oil Prices](https://www.bullished.co/noble-ceo-i-dont-think-weve-seen-any-demand-from-higher-oil-prices-22573d75/) - [Noble's 2027 Backlog Now Tilts 20% Toward Second Half, A Reversal From Recent Years](https://www.bullished.co/nobles-2027-backlog-now-tilts-20-toward-second-half-a-reversal-from-recent-years-d7f4a8c6/) - [Noble Swings To $117 Million Quarterly Loss On Tax Bill, Even As Backlog Holds At $6.7 Billion](https://www.bullished.co/noble-swings-to-117-million-quarterly-loss-on-tax-bill-even-as-backlog-holds-at-6-7-8c402cc4/) [All Noble (NE) coverage →](https://www.bullished.co/tag/ne/)