Noble Corporation plc


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Noble Corporation plc: Initiation Of Coverage – A Tale Of Increased Demand and Better Rates in the North Sea Drilling Market! 


Noble Corporation’s Q4 2023 earnings revealed a steady operational performance despite certain headwinds. Despite delays in contract commencement due to weather and permitting issues, the company achieved a Q4 adjusted EBITDA of $201 million, taking the full-year adjusted EBITDA to the top end of the guidance range. Free cash flow for Q4 was $165 million, excluding asset sale proceeds, contributing to a solid full-year figure. The positive performance is attributed to strong uptime and cost management across the fleet.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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