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Archer — Earnings Release 2026
May 19, 2026
9899_rns_2026-05-19_e600bd4a-c3da-4c88-85d1-c47d76d3257d.html
Earnings Release
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Archer Limited: Archer reports growth and reconfirms guidance for the year
Archer Limited: Archer reports growth and reconfirms guidance for the year
Hamilton, Bermuda (May 19, 2026)
Archer Limited ("Archer") reports another strong quarter and confirms quarterly
cash distribution to shareholders, corresponding to an annualized yield of
roughly 9%. For Q1, we report revenue of $278.4 million and adjusted EBITDA of
$41.1 million, representing a YOY-growth of 15% and 18% respectively, when
excluding the divested workover business in Argentina from 2025 financials.
Archer's CEO, Mr. Skindlo comments:
"We are pleased to deliver another quarter of organic growth, driven in
particular by increased activity within P&A solutions in the Norwegian market.
During the quarter, Archer secured several contract awards, including both new
scope and exercised options, supporting our current backlog of $3.4 billion and
providing strong earnings visibility going forward.
Our cash flow generation in the quarter was below our expectations as we
frontloaded certain growth investments and we saw delay in approval of variation
orders related to project changes and challenges within our offshore wind
business.
As the industry navigates the impacts arising from the current Middle East
conflict, the importance of reliable energy security longer-term has again been
highlighted. Archer is strategically and attractively positioned in brownfield
production and late life activities in our core markets outside of the current
conflict zone".
Highlights from the Q1 trading update:
· Q1 revenue of $278 million, down 7% YoY (up 15% excluding divested workover
business)
· Q1 EBITDA of $37.2 million, in line with same quarter last year (up 12% when
excluding divested workover business)
· EBITDA margin of 13.4%, up from 12.5% same quarter last year
· Distribution to shareholders of $6.4 million in Q1 (NOK 0.62/share)
· Closed transaction to sell workover business in south of Argentina
· Awarded two integrated P&A contracts with Equinor, and a 3-year contract
extension for wireline services with ConocoPhillips Norway
Subsequent events
· Two contract extensions with Equinor for wireline intervention services and
oiltools
· Awarded integrated geothermal drilling contract in Nevis
· Approved $6.6m distribution to be paid to shareholders in Q2 (NOK
0.62/share)
Archer reiterates the financial guidance for the full year 2026, with single
digit growth in EBITDA over 2025. We see a moderate shift in timing with a
stronger first half of 2026 and slightly less growth into second half due to
delayed start-up of some awarded projects, mainly in the UK.
Conference call Tuesday May 19[th] at 09:00 CEST
Archer will host a conference call at 09:00 am CEST on May 19[th], 2025. To
follow the presentation, the following options are available:
A. Webcast
To register for the webcast please go to
https://events.q4inc.com/attendee/721879711
B. Conference call
To access the call, which is open to the public, please dial in at the
participant telephone numbers listed below. Please call in 10 minutes prior to
the scheduled start time and ask for the "Archer Q1 2026 Earning Release
Presentation."
Participants dial-in:
United Kingdom +44 20 3936 2999
United States +1 646 233 4753
Germany +49 32 221098334
All other locations: +44 808 189 0158
Access code: 559685
The operator will ask for your name and company. Following the presentation
there will be a Q&A session. Information on how to ask questions will be given
at the beginning of the Q&A session.
For further information, please contact:
Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:
Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78
748, Email: [email protected]
This information is subject to the disclosure requirements according to Section
5-12 of the Norwegian Securities Trading Act.