Archer Limited: Earnings growth and strong cash flow generation
Hamilton, Bermuda (November 25, 2022) Third Quarter 2022 Highlights · Revenue of $240 million · EBITDA before exceptional items of $23.7 million · Strong cashflow reducing NIBD by $21 million · Awarded new Equinor scope valued at $200 million · Awarded a five-year platform drilling contract extension valued at $50 million · Acquired 50% of renewable energy service company Iceland Drilling (closed November 16th) Dag Skindlo, CEO of Archer, comments: “We are pleased to have delivered a strong quarter, increasing our underlying quarterly EBITDA by 13%. Absent the