Reports Net income of $35.1 million, an increase of $52.0 million compared to the net loss in the first quarter of 2025; Adjusted EBITDA of $133.2 million, an increase of $37.1 million or 39% compared to the first quarter of 2025; YTD 2025, the company was awarded 14 new contract commitments, representing approximately 2,584 days and $318 million of potential contract revenue. CEO, Patrick Schorn commented: “Our second-quarter results were strong, with technical utilization of 99.6% and economic utilization of 97.8%. As anticipated, our activity rebounded in the second quarter, with 22 out of 24 rigs active. Revenue increased by $51.1 million this quarter, and EBITDA rose by $37.1 million to $133.2 million, up by 39% versus the first quarter of this year, underscoring the profitability of the revenue.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BORR:
- Borr Drilling Completes $102.5 Million Public Offering to Boost Liquidity
- Borr Drilling options imply 7.6% move in share price post-earnings
- Borr Drilling (BORR) Q2 Earnings Cheat Sheet
- Borr Drilling Completes $102.5 Million Share Offering
- Borr Drilling Expands Board and Share Capital Following Special Meeting