Arabian Drilling Co. 1Q26 Conference Call Takeaways

Arabian Drilling reported improved 1Q26 EBITDA margins and a record backlog of SAR 12.5bn, but warned of a 12% revenue decline in 2Q26 due to offshore rig suspensions.

Key Takeaways

• 1.Arabian Drilling reached a record-high backlog of SAR 12.5bn at the end of 1Q26, supported by significant contract extensions.
• 2.Management expects 2Q26 revenue to decline by up to 12% due to temporary offshore rig suspensions and delayed project starts.
• 3.The company successfully entered the international market with its first GCC contract in April 2026.

Table of Contents

• Key discussion points
• Overview on operational performance
• Financials
• Outlook/guidance
• Valuation and risks
• GS Forecast
• Disclosure Appendix

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