SED Energy Holdings Plc posted record quarterly revenue of $72 million in Q2 2026, a 40% increase from the same period a year earlier and about 2.7% above Wall Street’s $69.6 million consensus estimate. The offshore energy services group also reported adjusted EBITDA of $43 million and net profit of $25.6 million for the quarter, both up more than 30% year-on-year.
First-half 2026 revenue rose 25% to $141.3 million, while adjusted EBITDA climbed over 30% to $81.1 million. Net profit for the six months totaled $47.4 million, with the group maintaining an EBITDA margin of about 60%. Energy Drilling, the largest subsidiary, contributed $64 million in revenue and $41.6 million in adjusted EBITDA, achieving a 65% EBITDA margin—the highest in recent years.
SeaBird Exploration reported Q2 revenue of $7.3 million and EBITDA of $1.6 million, with a 21% EBITDA margin. First-half figures for SeaBird stood at $15.3 million in revenue and $3.2 million in EBITDA. The group’s unrestricted cash balance increased to $39.4 million at quarter-end, up from $21 million at the start of the year, while total cash including restricted funds reached $53.6 million.
SED Energy’s net interest-bearing debt fell to $17.6 million from $30.5 million at the end of Q1 2026, reflecting strong operating cash flow of $80.6 million in the first half. The group’s leverage ratio stood at about 0.1 times trailing 12-month EBITDA, with a firm revenue backlog of $342 million at quarter-end. Energy Drilling accounted for $318 million of that backlog, while SeaBird held $24 million.
Management proposed a $25 million distribution for Q4 2026, subject to shareholder approval, with full-year guidance ranging from $90 million to $110 million. Since inception, SED Energy has distributed $132.5 million to shareholders, representing roughly 30% of its initial market capitalization. The group has paid out $50 million in distributions in the first half of 2026 alone, equating to a 100% payout ratio of net profit.
Shares of SED Energy slipped 0.9% to $7.90 in early trading on August 26, 2026, paring gains from a 52-week high of $10.25. The stock remains about 3.6% above its 52-week low of $7.47.
