Archer (ARCH) Q3 2026 TU earnings summary

Executive summary

• Q3 revenue was $267.6m; reported EBITDA was $44.2m and EBITDA before exceptional items was $48.4m. Backlog was $3.8bn.

• Continuing-operations EBITDA grew 8% YoY excluding the divested Argentina workover business; full-year EBITDA guidance was reiterated.

Financial highlights

• Q3 revenue was $267.6m, versus $263m in Q3-25 and $269m in Q2-26.

• Reported EBITDA was $44.2m, with a 16.5% margin; EBITDA before exceptional items was $48.4m, with an 18.1% margin.

• A Norway offshore industrial strike reduced Q3 EBITDA by ~$3m.

Outlook and guidance

• 2026 guidance calls for single-digit EBITDA growth despite the Argentina workover divestment; EBITDA margin is expected to improve 2–4 percentage points from 2025 on a more favorable mix.

• H2 2026 EBITDA is expected to be 5–15% higher than H1 as projects start and contracted activity ramps up.

• 2026 capex is estimated at 6–7% of revenue, with maintenance capex expected at ~3%; continued EBITDA growth in 2027 and deleveraging remain objectives.