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Borr Drilling (BORR)
:BORR
Earnings Data
Report Date
Jun 03, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
>-0.01Last Year’s EPS
0.06Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: 16.44%
|Next Earnings Date:Jun 03, 2025
Earnings Call Sentiment|Neutral
The earnings call revealed a balance of positive achievements such as increased revenue and strong utilization rates, alongside challenges like market uncertainties and rig suspensions. While there were significant achievements in contracting and completion of new builds, the financial outlook was tempered by concerns over market conditions and increased expenses.Company Guidance
During the Borr Drilling Limited Q4 2024 earnings call, the company provided several key metrics and guidance for 2025. The fourth quarter operating revenue increased by $21.5 million from Q3, primarily due to higher day rates, resulting in an adjusted EBITDA of $136.7 million. The company achieved a technical utilization rate of 98.9% and an economic utilization rate of 97.1% for the quarter. For the full year, Borr Drilling delivered an adjusted EBITDA within the guidance range of $500 to $550 million, despite various headwinds. Looking ahead to 2025, the company has approximately 6,700 contracted rig days, representing 77% of total available rig days, with an average day rate of $149,000, up from $136,000 in 2024. Capital expenditures for 2025 are expected to be below $50 million, with liquidity positively impacted by a $125 million Mexican payment arrangement and anticipated mobilization payments of $44 million. The board declared a cash distribution of $0.02 per share for Q4 2024 and emphasized maintaining a strong balance sheet amidst market uncertainties.Increased Operating Revenue and EBITDA
Operating revenue increased by $21.5 million over Q3 2024. Adjusted EBITDA for Q4 2024 was $136.7 million, an increase of $21.2 million or 18% compared to Q3.
High Utilization Rates
Borr Drilling achieved a technical utilization rate of 98.9% and an economic utilization rate of 97.1%.
Successful Completion of New Build Program
In November 2024, Borr Drilling successfully completed a new build program with the delivery of the final rig VAR, marking the end of growth capital expenditures.
Strong Contracting Performance
Borr Drilling secured $795 million in backlog at an average rate of $177,000 per day in 2024.
Positive Cash Flow Impact Expected
Fewer special periodic surveys scheduled for 2025, with budgeted capital expenditures set below $50 million for the year.
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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
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BORR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | $2.98 | $3.05 | +2.35% |
| Nov 06, 2024 | $4.39 | $4.05 | -7.74% |
| Aug 14, 2024 | $6.35 | $6.54 | +2.99% |
| May 23, 2024 | $5.62 | $6.23 | +10.85% |
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.
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FAQ
When does Borr Drilling (BORR) report earnings?
Borr Drilling (BORR) is schdueled to report earning on Jun 03, 2025, TBA Not Confirmed.
What is Borr Drilling (BORR) earnings time?
Borr Drilling (BORR) earnings time is at Jun 03, 2025, TBA Not 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 2025 (Q1) is >-0.01.
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