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Borr Drilling Limited (BORR)
NYSE:BORR
Earnings Data
Report Date
May 27, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
>-0.01Last Year’s EPS
-0.07Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive operational and financial position: very high utilization, strong liquidity, successful capital markets activity, accretive acquisition of five premium rigs, and tangible contracting momentum (seven commitments and ~$145M backlog additions). These positives were balanced against short-term headwinds — a Q4 revenue decline (-6.4% QoQ), higher operating costs (+7.4% QoQ), a small Q4 net loss, outstanding Pemex receivables (~$90–100M), and material uncontracted exposure in H2 2026 (48% coverage) including several idle rigs that may require reactivation capital. Management’s outlook is optimistic, expecting tender awards by mid-2026 and a dayrate recovery into 2027, and actions taken in 2025 strengthened liquidity and strategic flexibility.Company Guidance
Strong Operational Utilization
Technical utilization of 98.8% and economic utilization of 97.8% in Q4, indicating high fleet productivity and effective operations.
Robust Adjusted EBITDA Performance
Q4 adjusted EBITDA of approximately $105.4M and full-year adjusted EBITDA of $470.1M, which was at the top end of guidance despite headwinds.
Solid Liquidity Position
Cash and cash equivalents of $379.7M as of Dec 31 and $234.0M undrawn revolving credit facilities, yielding total liquidity of $613.7M—cash increased by $151.9M QoQ.
Accretive Fleet Expansion
Completed acquisition of five premium jackups from Noble (integration ahead of expectations); January cash consideration of $174.0M plus $150.0M letter of credit for remaining consideration—adds scale and near-term opportunity capacity.
Contracting Momentum and Backlog Additions
Secured seven new commitments since last report, including five year-to-date 2026 commitments adding ~ $145.0M to backlog; notable extensions in Mexico, US, West Africa, Asia and Vietnam.
Improving 2026 Coverage and Market Visibility
2026 fleet coverage stands at 64% overall, 80% for H1 (including acquired rigs); management expects coverage to exceed 70% as negotiations progress and anticipates modestly higher contracting days in 2026 vs 2025.
Favorable Industry Tender Pipeline
Citing Petrodata, management highlighted ~120 rig-years in tender/pre-tender phase for opportunities starting within 12 months and expects awards by mid-2026—supporting a potential utilization and rate recovery into 2027.
Capital Markets Execution
Completed $165M bond issuance (due 2030) and equity offering raising gross $84M in December with strong investor demand; progressed listing on Euronext Growth and planning full uplisting to Oslo in 2026.
Safety and Operational Recognition
Multiple rigs achieved notable LTI-free milestones (Idun 6 years, Grid 3 years, Gunnlod and Gerd 1 year) and Arabia 3 received Aramco offshore award for best safety score in 2025.
BORR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BORR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $5.78 | $5.99 | +3.63% |
Nov 05, 2025 | $3.03 | $3.21 | +5.94% |
Aug 13, 2025 | $2.61 | $2.43 | -6.90% |
May 21, 2025 | $1.61 | $1.62 | +0.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Borr Drilling Limited (BORR) report earnings?
Borr Drilling Limited (BORR) is schdueled to report earning on May 27, 2026, TBA (Confirmed).
What is Borr Drilling Limited (BORR) earnings time?
Borr Drilling Limited (BORR) earnings time is at May 27, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BORR EPS forecast?
BORR EPS forecast for the fiscal quarter 2026 (Q1) is >-0.01.