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Deep Value Driller (DVD) investor relations material
Deep Value Driller Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Drillship entered a bareboat charter with Saipem in November 2023, later amended and extended through July 2026, with an option for further extension.
Signed a sale and purchase agreement in February 2026 to sell the drillship for $300 million, with $70 million prepaid and $230 million due upon delivery in H2 2026.
Distributed dividends of 0.45 NOK per share in Q1 2026.
Financial highlights
Q1 2026 operating income was $12.4 million, with total income of $15.1 million, and operating profit of $7.5 million.
Net profit for Q1 2026 was $4.5 million, compared to $6.5 million in Q1 2025.
Cash and cash equivalents at March 31, 2026, were $85.4 million, up from $17.8 million at March 31, 2025.
Total assets increased to $178.4 million from $112.3 million at year-end 2025.
Outlook and guidance
Revenue backlog from the amended charter is expected to be $54–55 million for the initial period, with potential for extension.
Delivery of the drillship to the buyer is anticipated in the second half of 2026.
- Stable annual profit and high uptime amid lower Q4 income and major charter extension.DVD
Q4 20259 Feb 2026 - Strong Q3 profit and new charter boost backlog, but equity drops after share premium payout.DVD
Q3 202531 Oct 2025 - Net profit rose to $14.4 million in H1 2025, with a new charter boosting future revenue.DVD
Q2 20258 Aug 2025 - Q3 2024 saw robust operational performance, profitability, and upcoming shareholder distributions.DVD
Q3 202413 Jun 2025 - Strong H1 2024 profit and cash flow driven by high rig utilization and charter contract.DVD
Q2 202413 Jun 2025 - Q1 2025 delivered higher profits, a major charter extension, and continued strong cash returns.DVD
Q1 20256 Jun 2025 - Q4 2024 saw strong earnings, high utilization, and ongoing dividends amid loan facility expansion.DVD
Q4 20245 Jun 2025
Next Deep Value Driller earnings date
Next Deep Value Driller earnings date
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