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Borr Drilling ( (BORR) ) has issued an update.
On February 19, 2025, Borr Drilling Limited reported strong financial results for Q4 2024, with a 9% increase in operating revenues to $263.1 million and a 171% rise in net income to $26.3 million compared to the previous quarter. Despite facing headwinds such as softening demand and declining day rates in the second half of 2024, Borr Drilling anticipates an improved market in the latter half of 2025, supported by increased contracting and tendering activities. The company remains confident in the jack-up rig market fundamentals and has declared a cash distribution of $0.02 per share for Q4 2024, reflecting a prudent cash management approach.
More about Borr Drilling
Borr Drilling Limited is a company operating in the offshore drilling industry, primarily providing jack-up rigs for oil and gas exploration and production. The company focuses on securing contracts for its fleet in various global markets, including West Africa, Southeast Asia, and Mexico.
YTD Price Performance: -26.42%
Average Trading Volume: 5,079,195
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $754.1M
For an in-depth examination of BORR stock, go to TipRanks’ Stock Analysis page.
