Seadrill Limited (SDRL) - First Quarter 2020 Results
Material impairments on assets and investments and a focus on restructuringHighlights ·Revenue down 19% at $321 million with lower proportion of reimbursable revenues ·Technical utilization of 95% and economic utilization of 93% ·Operating Loss of $1,284 million after making material asset impairments ·Adjusted EBITDA of $55 million, representing 17.1% margin ·Net loss attributable to shareholder of $1,564 million equivalent to net loss per share of $15.59 ·During the quarter we added $77 million in backlog, maintaining a total backlog figure of $2.