Seadrill Ltd. (NYSE: SDRL) reported Q3 EPS of $0.21, $0.24 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $985 million versus the consensus estimate of $1.02 billion.

Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:

"We have had a strong operating quarter and we continue to make good progress on our cost savings program. Our discussions with the shipyards continue to be constructive regarding deferrals.

We believe that market conditions are likely to remain challenging through 2016 and the coming quarters will provide insight into the 2017 environment. It is important to recognize that we are in a cyclical business. The longer this downturn lasts, the more robust the recovery will be when it happens. Seadrill is in a position to capitalize on the upturn with the the most modern fleet and world class operations."

For earnings history and earnings-related data on Seadrill Ltd. (SDRL) click here.