Loading...
•
Jun 30, 2025
Borr Drilling Q2 2025 Earnings Report
Borr Drilling posted a strong Q2 2025 with rising revenue, profitability, and record utilization across its active fleet.
Key Takeaways
In Q2 2025, Borr Drilling delivered $267.7M in revenue, $35.1M in net income, and $133.2M in Adjusted EBITDA. Rig utilization was near full capacity, and new contracts added $318M to backlog. The company also strengthened its balance sheet with $200M in new liquidity.
Forward Guidance
Borr Drilling expects stable activity in Q3 2025 and reaffirms Bloomberg consensus for full-year Adjusted EBITDA of $470M.
Positive Outlook
- Activity in Q3 expected to be comparable to Q2
- Adjusted EBITDA outlook reaffirmed at ~$470M for FY2025
- 84% contract coverage in 2025 at avg. dayrate of $145,000
- Additional liquidity of $200M raised in July via equity and debt facilities
- Arabia II rig returning to fleet in Q3 to support growth
Challenges Ahead
- Free cash flow impacted by high interest and capex in Q2
- Ongoing volatility in oil markets could affect demand
- Relying on Pemex and Mexican reforms for some expansion
- Only 47% coverage in 2026 with lower avg. dayrate
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...