NYSE$BORR
Borr Drilling Ltd · Q2 2025 earnings
Q2 2025 earnings · · After market close · Investor relations
Briefing
Borr Drilling Ltd reported strong Q2 2025 results with revenue growth and return to profitability.
Borr Drilling Limited announced unaudited results for the three months ended June 30, 2025, showing total operating revenues of $267.7 million, up 24% sequentially. The company achieved net income of $35.1 million and Adjusted EBITDA of $133.2 million, with high rig utilization rates. New contract awards improved backlog and coverage for 2025 and 2026.
- Q2 2025 revenues reached $267.7 million, including $238.5 million dayrate, $20.3 million bareboat charter, and $8.9 million management contract revenue.
- Net income of $35.1 million and operating income of $96.5 million, with Adjusted EBITDA at $133.2 million (39% sequential increase).
- Technical utilization of 99.6% and economic utilization of 97.8%, with 22 of 24 rigs active.
- YTD new contracts: 14 awards for ~2,584 days and $318 million potential revenue; contract coverage 84% for 2025 at $145k average dayrate.
Headline financials
Revenue & EPS history
Borr Drilling · Revenue · Quarterly
$268M
Revenue by segment
Borr Drilling · $268M total across 3 segments · Q2 2025
- Dayrate revenue$239M—89.1%
- Bareboat charter revenue$20.3M—7.6%
- Management contract revenue$8.9M—3.3%
Forward guidance
Q3 2025 activity expected at comparable levels to Q2; comfortable with consensus 2025 Adjusted EBITDA of ~$470 million.
Tailwinds
- Strong operational performance and new contract awards in Asia and for Arabia II.
- Financing package increasing liquidity by >$200 million post-quarter.
- Positive outlook on Mexico activity with Pemex support.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports
+1.7%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-0.3%
Avg return
30 days after
44%
14 / 32 earnings
Positive
+21.8%
Q1 2022
Best reaction
-27.9%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q2 2025 | — | — | — | |
| Q1 2026 | -2.0% | -10.5% | -25.0% | |
| Q4 2025 | +3.5% | +0.7% | -21.5% | |
| Q3 2025 | +5.9% | +6.2% | +26.2% | |
| Q1 2025 | +0.6% | +8.7% | +29.2% | |
| Q4 2024 | +2.3% | -7.0% | -21.8% | |
| Q2 2024 | +2.8% | -5.7% | -15.6% | |
| Q4 2023 | -4.2% | -4.3% | +5.3% | |
| Q3 2023 | -0.7% | +2.1% | +12.5% | |
| Q2 2023 | -8.7% | -9.7% | -4.7% | |
| Q1 2023 | +2.5% | -1.8% | -8.9% | |
| Q4 2022 | +2.4% | -3.5% | -4.1% | |
| Q3 2022 | -4.9% | -3.9% | -14.5% | |
| Q2 2022 | -8.3% | -3.4% | -9.2% | |
| Q1 2022 | +21.8% | +28.2% | -8.3% | |
| Q4 2021 | -4.1% | -8.7% | +38.5% | |
| Q3 2021 | +20.2% | +22.9% | -12.7% | |
| Q2 2021 | +15.6% | +13.3% | +18.5% | |
| Q1 2021 | -0.9% | +6.2% | -11.6% | |
| Q4 2020 | -3.0% | -5.8% | -14.0% | |
| Q3 2020 | -7.9% | +0.3% | -2.7% | |
| Q2 2020 | -6.0% | -12.0% | -27.3% | |
| Q4 2018 | +17.7% | +10.9% | -27.0% | |
| Q4 2017 | +17.7% | +10.9% | -27.0% | |
| Q1 2020 | +17.9% | +24.2% | +166.2% | |
| Q4 2019 | -27.9% | -43.3% | -82.8% | |
| Q3 2019 | -3.9% | -3.5% | +30.5% | |
| Q2 2019 | +11.7% | -0.4% | +4.4% | |
| Q1 2019 | -0.4% | — | — | |
| Q3 2018 | -0.5% | — | — | |
| Q2 2018 | -1.5% | — | — | |
| Q1 2018 | -1.6% | — | — | |
| Q3 2017 | +0.0% | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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