Noble Turns To Profit In Q3

Noble Corporation plc (NE) reported that its third quarter net income was $33.59 million or $0.41 per share compared to a loss of $23.67 million or $0.36 per share in the prior year.

Operating revenues for the quarter grew to $305.87 million from $250.37 million in the prior year.

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

Noble's board has authorized a share repurchase program that allows the company to repurchase up to $400 million of outstanding Company stock or warrants. The $400 million authorization does not have a fixed expiration, and may be modified, suspended or discontinued at any time.

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