Noble becomes profitable in the third quarter

(RTTNews) – Noble Corporation plc (NE) reported third quarter net profit of $33.59 million or $0.41 per share, compared to a loss of $23.67 million or $0.36 per share the previous year.

Operating revenue for the quarter reached $305.87 million, compared to $250.37 million the previous year.

Noble said the business combination with Maersk Drilling closed on October 3, 2022. Consolidated results for the quarter reflect Noble Corporation’s legacy prior to the business combination.

Noble’s board of directors has authorized a stock buyback program that allows the company to repurchase up to $400 million of the company’s outstanding stock or warrants. The $400 million authorization has no fixed expiration and may be changed, suspended or terminated at any time.

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