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Solstad Offshore (SOFF) investor relations material
Solstad Offshore Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 97% fleet utilization in Q3 2025, reflecting strong operational performance and order intake, with increased backlog and earnings visibility for 2026 and beyond.
Board proposed a Q3 2025 dividend of $0.05 per share, totaling $4 million.
Recent oil price volatility introduces uncertainty for future activity and performance.
Financial highlights
Q3 2025 revenue was $73 million, up from $68 million in Q3 2024; year-to-date revenue reached $220 million versus $197 million last year.
Adjusted EBITDA for Q3 was $29 million, compared to $28 million last year; year-to-date adjusted EBITDA was $91 million versus $89 million.
Net result for Q3 was $26 million, up from $11 million last year; year-to-date net result was $88 million versus $52 million.
Utilization remained high at 97% for Q3 2025 and year-to-date.
Cash position at quarter end was $87 million, up from $60 million.
Outlook and guidance
Adjusted full-year 2025 EBITDA guidance set at $115 million, revised from previous $120–150 million; operational guidance unchanged at $60–70 million.
Share of results from associates and joint ventures revised to around $50 million from previous $60–80 million.
High contract coverage for 2026 provides good earnings visibility; several market opportunities for available vessels into 2026.
Long-term demand remains positive, especially in Brazil, but short-term market demand is lower than previously expected.
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