Archer Limited reports another strong quarter and confirms quarterly cash distribution to shareholders, corresponding to an annualized yield of roughly 11%. For Q3, we report revenue of $339.3 million and adjusted EBITDA of $40.2 million, representing a YOY-growth of 1% and 11% respectively.

On the quarter, Archer’s CEO, Mr. Skindlo comments:
“We are pleased to deliver another financial quarter with growth in a more challenging oil and gas services market. The acquisition of Premium Oilfield Services was completed in the quarter, strengthening our platform for future growth in the Gulf of America. We continue to advance our late-life and P&A operation capabilities, reinforcing our role as the partner of choice for our customers. Our backlog of USD 4 billion, including options, provides good visibility for activity and earnings going forward “.

Highlights from the Q3 trading update:

• Revenue of $339.3 million, up 1% YOY
• Adjusted EBITDA of $40.2 million, up 11% YOY
• EBITDA of $38.4 million, up 10% YOY
• Paid cash distribution to shareholders of NOK 0.62 per share in Q3
• Acquired the US-based well service provider Premium Oilfield Services
• Raised $20m of new equity in private placement to fund acquisition
• Approved NOK 0.62 per share distribution to shareholders in Q4

Outlook and guidance:

Archer reiterate their financial guidance for 2025, with an EBITDA growth of 8-15% compared to 2024.

KeyFacts Energy Industry Directory: Archer