Borr Drilling Ltd Reports Strong Q2 2025 Performance

Borr Drilling Limited (NYSE: BORR), a leading commercial service provider in the energy sector, has announced robust second-quarter results for 2025, showcasing significant growth and operational efficiency. The company reported total operating revenues of $267.7 million, marking a 24% increase quarter-over-quarter. This impressive performance is underscored by a net income of $35.1 million, a substantial turnaround from the net loss experienced in the first quarter of 2025. Adjusted EBITDA also saw a notable rise, increasing by 39% to $133.2 million.

The company’s operational prowess was evident with a technical utilization rate of 99.6% and 22 out of 24 rigs actively engaged in drilling activities. This high level of activity reflects Borr Drilling’s strong market position and its ability to maintain a steady workflow across its global operations.

In a strategic move to bolster its financial standing, Borr Drilling executed a $102.5 million equity offering in July 2025, alongside securing commitments from commercial banks. This initiative successfully increased the company’s liquidity by over $200 million, enhancing its financial flexibility and capacity to pursue growth opportunities.

A significant leadership transition is on the horizon, with Bruno Morand set to assume the role of CEO on September 1, 2025. Patrick Schorn, the current CEO, will transition to the role of Executive Chair, ensuring continuity and stability at the executive level.

Year-to-date, Borr Drilling has secured 14 new contracts, amounting to approximately $318 million in potential revenue. This achievement represents 84% contract coverage for 2025, with an average day rate of $145,000, highlighting the company’s competitive edge and strong demand for its services.

Analysts had anticipated a strong performance, with expectations set at a profit of $0.103 per share for the quarter, compared to $0.130 per share in the same period the previous year. Despite a slight decrease in revenue from $271.9 million in the prior year’s quarter to $259.6 million, the company’s strategic initiatives and operational efficiency have positioned it well for sustained growth.

Looking ahead, Borr Drilling’s strategic financial maneuvers, coupled with its operational excellence and leadership transition, set a positive trajectory for the company. With a market capitalization of $540.44 million and a price-to-earnings ratio of 13.968, Borr Drilling remains a compelling entity in the energy equipment and services industry, poised for continued success in the dynamic energy sector.